Filecoin Launches Cross-Chain Data Bridge with Avalanche C-Chain
Filecoin (FIL) exhibited a volatility range of 5.4% in the last 24 hours, trading between $2.39 and $2.52. Key points include:
- Mid-session decline to $2.39 followed by a recovery of 5%.
- Trading volume exceeded 2.8 million units during the correction phase, indicating institutional interest.
- Launch of a cross-chain data bridge between Avalanche C-Chain and Filecoin enhances connectivity for smart contracts and data infrastructure.
- Wider crypto market rose, with the Coindesk 20 up 3.1%.
- Current trading price of FIL is approximately $2.50, reflecting a 2% increase over 24 hours.
Technical Analysis:
- Controlled volatility within a $0.13 range during the trading period.
- Upward momentum began at 19:00, continuing through the night.
- Institutional participation confirmed by elevated volumes exceeding 2.8 million units during corrections.
- Sustained corporate adoption potential indicated by volume spikes above 50,000 units.