Since the integration of Chainlink into the Filecoin network, FIL has increased by almost 370 percent in the last month. The integration partner, on the other hand, cannot benefit.
Filecoin (FIL) is clearly one of last month’s winners. In the last 24 hours alone, the cryptocurrency was able to increase by almost 24 percent. If you look at the past 30 days, the decentralized crypto project can look back on a full 368 percent. FIL even reached a new all-time high (US $ 158.56) and was at US $ 154.57 at the time of going to press.
The current price rally thus represents the fruits of the labor that Filecoin sown a week ago. When the open-source project announced the integration of Chainlink (LINK), the reaction of the market followed promptly. Three days after the announcement, the FIL rate was already at US $ 138.28.
The integration will create a bridge between the FIL network and smart contract-capable platforms such as Ethereum, according to a press release. The integration of Filecoin and Chainlink should enable decentralized storage solutions for Web 3.0 developers and offer a wide range of use cases.
In addition, the announcement in mid-March that Grayscale, the largest asset manager for digital assets, had expanded its product range by five Altcoins, including Filecoin and Chainlink, caused price gains. FIL rose from $ 54.83 to $ 87.93 within two days. LINK was also able to capitalize on the announcement, rising from US $ 27.14 to US $ 30.87.
In addition to FIL and LINK, Grayscale also took on three other Altcoins: Basic Attention Token (BAT), Decentraland (MANA), and Livepeer (LPT). In an interview with Bloomberg, Grayscale CEO Michael Sonnenshein revealed that he intends to cover up to 40 trusts in the future. However, these are not intended for the average investor. Trading is only open to institutional and accredited investors.
But one thing, in particular, will benefit from the current integration: Filecoin. While FIL is constantly penetrating into new spheres, LINK can hardly claim the same. Rather the opposite is the case. Shortly after the announcement of the integration, the price of the cryptocurrency even fell from US $ 27.65 to US $ 24.75. A loss of just over 10 percent. At press time, Chainlink is trading at $ 26.78.
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