Filecoin (FIL)

What is Filecoin?

Filecoin is a decentralised storage network that incentivises participants to share disk space. FIL is the coin used to pay storage providers and reward miners.

The Filecoin protocol uses cryptographic proofs to verify that files are effectively stored redundantly by storage providers. The network competes with centralised cloud services such as AWS S3 on cost and privacy, with typically lower prices. The Filecoin Virtual Machine (FVM) added the ability to run smart contracts on the network, opening DeFi use cases tied to storage.

Key data

Why analyse Filecoin with machine learning?

Network capacity growth cycles, measured in petabytes stored, are a leading indicator of Filecoin adoption and tend to anticipate price movements. Integration with IPFS and the growth of the Web3 storage market create measurable structural demand. New agreements with Web3 platforms and enterprise adoption generate identifiable news catalysts.

How High Tide's analysis of Filecoin works

Every day, the High Tide model analyses Filecoin by combining multiple technical indicators: RSI to identify overbought and oversold conditions, MACD to detect momentum changes, and Bollinger Bands to measure relative volatility. The analysis also integrates the closing price, trading volumes and the trend over the last 24 hours. The model publishes an UP or DOWN signal only when all indicators exceed the minimum confidence threshold, filtering out weak or contradictory signals. Each prediction is verified after 7 days against real Binance data, continuously updating the accuracy statistics.