One of the most awaited Initial Coin Offering (ICO) since the times of EOS cryptocurrency has finally delivered on its long awaited promise and launched its main net opening the doors to the token being listed on exchanges. Filecoin (FIL) the token behind an innovative approach of decentralized file storage solutions was first released back in summer of 2014 and then conducted its ICO in the year of 2017, to finally deliver its main net in the recent days on 15th of October 2020.
- The ICO launched back in 2017 has started its sale at $1 per token and increased by $1 for every $40 million raised, reaching $6 per token towards the latter part of the offering
- The ICO demand has reached its sell out capacity of $200 million for distribution of 10% of all the FIL tokens
- The token distribution to its investors was set to happen on the network launch which was promised to be between 6 months to 3 years
- The network launch has finally came to fruition after almost 3 full years of patience
- The FIL token was listed on many known exchanges such as Kraken, Binance and Bitfinex with the price spiking towards the $200 mark per token in the first hours of trading and reaching $3 billion market cap getting it to the 11th spot temporarily dethroning Bitcoin SV.
- The price action however had a quick spin in the coming hours with the price of the token quickly tanking by about 70% towards the $60 marks, with complaints and accusations about a potential exit scam.
- As of the time of writing the price appears to have stabilized around the $45 mark with the price still moving in a descending channel since the listing on exchanges.
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