Filecoin Surges Among Lower Peers in Digital Currencies

Posted on 04/01/2021

Grayscale Filecoin Trust’s bought 45,500 FIL tokens since the launch on March 17, 2021, of which 29,550 were on April 2, 2021, data provided by shows. Filecoin is a cryptocurrency that powers the Filecoin network, a decentralized peer-to-peer file storage network that aims to let anyone store, retrieve, and host digital information. FIL tokens are used as payment for these services and as an economic incentive to ensure files are stored reliably over time.

At 12:30 PM PST, April 1, 2021, FIL’s price was $199.80, giving it a market cap of US$ 12.6 billion.

Grayscale Investments, LLC is owned by the Digital Currency Group. Digital Currency Group was launched in 2015 by Barry Silbert, who previously was CEO of SecondMarket, Inc. Grayscale Filecoin Trust’s assets are stored in offline or “cold” storage with Coinbase Custody Trust Company, LLC, as custodian. Grayscale Filecoin Trust charges a 2.5% annual fee and recently reported US$ 7.8 million in assets under management.

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