• FIL was the 12th most-traded cryptocurrency in the last 24 hours.
• The OI in FIL futures spiked to a 26-week high.

Filecoin [FIL] became the second-largest gainer in the entire crypto market over the last 24 hours, building on the bullish impetus it received recently.

The token representing the decentralized storage network pumped to $7.53 at press time, marking a jump of 16% in the 24-hour period, and a whopping 38% over the week, according to CoinMarketCap data.

Market gets excited over FIL

The price surge grabbed the attention of market participants, leading to a 217% spike in daily trading volume. In fact, FIL, which ranked 27th in market capitalization, was the 12th most-traded cryptocurrency in the last 24 hours.

Moreover, market sentiment towards FIL turned positive, as per AMBCrypto’s analysis of Santiment’s data. Such as spike in market sentiment was last seen six weeks ago.

The number of mentions of the coin on popular crypto-focused social channels also jumped, leading to greater awareness and possibly ownership.

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Author: Aniket Verma

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