Why is the price of Fil different on various trading platforms (Fil coin is scarce in the market, why is the price still falling continuously)?

08/13/2023 05:51 • Blockchain Buzz • 110 views

Why is the price of Fil different on various trading platforms? Filecoin is a decentralized storage network, but because Filecoin does not have a currency to support miners and users, it cannot be traded. So why is the price of Fil different on different platforms? First, the purchase price of FIL on exchanges is based on the price of a 5GB hard drive. If you want to buy through an exchange, you need to deposit the hard drive in the exchange. Secondly, exchanges can choose their preferred tokens or projects to participate in mining, but they do not provide any investment advice or recommendation services. In this case, exchanges will have certain restrictions on their own currencies. For example, if you want to use BTC to purchase a certain project’s token or if you want to sell a token and consider it valuable, you can resell the token to others without affecting your earnings and fund usage. Finally, when exchanges have enough money, they can go online with new FIL, which is the so-called mainnet coin and has already been listed on several platforms. From the differences among various platforms, Fil is sold within exchanges. In other words, exchanges directly sell Filecoin to investors, which is officially sold by the company. Another term for this is “primary sales.” In this case, investors can buy and sell Filecoin based on their asset size. So how is the circulation of Filecoin? The total supply of Filecoin is about 21 million, of which about 80% is locked for a year. Therefore, we believe that Filecoin’s deflationary model is very suitable for miners. However, as Filecoin becomes more and more popular, some early players start accumulating and investing heavily in Filecoin, leading to many mining pools and individual users hoarding fil in the market. To understand this better, let me introduce a trading website: [https://bitfinex.com/filecoin-usdt/](https://bitfinex.com/filecoin-usdt/) The Filecoin official website page shows that the full name of Filecoin is IPFS (InterPlanetary FileSystem), which is a global distributed cloud storage protocol. It uses Inter-Blockchain Communication (IBC) technology to create a scalable, secure, and immutable network storage layer. Filecoin aims to build a powerful content distribution network that helps content creators easily access storage capacity and permissions, enabling seamless integration with various types of content. As a decentralized application, Filecoin can achieve peer-to-peer transmission in many aspects, including cryptocurrencies and computing on the blockchain. {Title}: Why is the price of Fil different on various trading platforms (Fil coin is scarce in the market, why is the price still falling continuously)

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Why is the price of Fil different on various trading platforms (Fil coin is scarce in the market, why is the price still falling continuously)?

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