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Recent news of BlackRock’s Spot ETF getting a NASQAD trade clearance and Ripple’s latest victory sent shockwaves across markets, with BTC and most altcoins recording price upticks as anticipation of ETF approvals builds. Specifically, Filecoin seems to have capitalized more on the rally, recording an increase of over 11% in valuation within the last 24 hours. FIL’s surge also comes in the wake of Bitcoin Minetrix’s presale.
#XRPCommunity #SECGov v. #Ripple #XRP BREAKING: JUDGE TORRES SIGNS ORDER OFFICIALLY DISMISSING CASE AGAINST BRAD GARLINGHOUSE AND CHRIS LARSEN pic.twitter.com/TLXG51hSlP
— James K. Filan 🇺🇸🇮🇪 (@FilanLaw) October 23, 2023
As of October 24, 6:30 a.m. EST, Filecoin (FIL) held a spot price of $3.8, representing an increase of 12.1% from its previous 24-hour valuation as per CoinMarketCap stats. Looking at the 4-hour FIL/USD TradingView charts, the RSI is overbought, showing great bull dominance on Filecoin. This bullish activity will likely continue as bulls hold on to the 27.6 support zone in the RSI.
The Bollinger Bands are wide apart, indicating high volatility levels on Filecoin. These levels will likely remain high due to the growing trading activity on FIL, which has seen the token’s trading volume jump by 114% within the last 24 hours.
Looking at 2-hour FIL/USD charts from TradingView, the 15-day moving average has exceeded the 30-day moving average, forming a golden cross. This indicates a likely continuous bullish future for Filecoin, as the MACD indicator also moves in the green zone, indicating the same.
Doubling down on wider stats from Messari, in Q3’23, Filecoin experienced a 45% QoQ increase in storage agreements, marking a remarkable 10x YoY growth. Despite a 10% QoQ decrease in storage capacity, the usage surged from 8% in Q2’23 to 13% in Q3’23.
The period witnessed the onboarding of around 1,900 customers, with a notable 25% QoQ rise in customers incorporating sizable datasets (above 1,000 TiB). Despite a decline in Protocol storage fee income by 68% in FIL terms and 73% in USD terms, the introduction of the Filecoin Virtual Machine (FVM) facilitated growth in net deposits and loans, alongside the prospect of ushering in a new era of Filecoin-based DeFi applications through Uniswap contracts on the FVM.
These impressive stats are directly attributed to the storage solution brought forth by Filecoin.
The Filecoin Storage Solution
Filecoin champions decentralization and anti-censorship. It incentivizes users to share spare hard drive space, earning FIL tokens. With its strong consensus mechanism, successful ICO, and support from venture capitalists, Filecoin ensures secure and efficient file sharing.
Utilizing blockchain mitigates centralization and censorship risks. It incentivizes users with spare hard drive space and ensures efficient and secure data storage. Supported by a robust consensus mechanism and substantial venture capital backing, FIL tokens can be traded on various exchanges and stored securely in hardware wallets.
Meanwhile, as Filecoin’s storage solution sends the token on a rally, Bitcoin Minetrix’s pre-sale also poses an impressive investment option.
Bitcoin Minetrix’s Initiative
Now in its second stage, BTCMTX presents a novel and efficient cloud mining solution for the cryptocurrency community to address the issues of high equipment costs and cloud mining scams that have turned off many would-be investors in the past. BTCMTX’s decentralized approach promises to be a safe and open mining enterprise for fans and financiers.
Users only need technical knowledge to use Bitcoin Minetrix and start mining for themselves. Coupled with this low barrier to entry is the platform’s low cost, which has been a major stumbling block for many would-be miners.
#BTCMTX introduces an efficient cloud mining solution for the #Crypto community.
Previous concerns about expensive equipment and cloud mining deceptions held many back.
This decentralized strategy ensures a transparent and protected mining venture.⚒️ pic.twitter.com/FPZHxkB74j
— Bitcoinminetrix (@bitcoinminetrix) October 24, 2023
Some organizational problems come up with standard mining setups that the platform can fix. Users don’t have to deal with the noise and big areas needed for mining operations. This makes the experience easier and more handy. This new development means that people and companies with only a little room can now mine without worrying about actual equipment.
The elimination of resale of mining equipment problems is a major issue that BTCMTX solves with Bitcoin Minetrix. In conventional mining settings, maximizing profits is more difficult because of hardware depreciation and the ongoing need for upgrades. Users may concentrate more on the mining process and possible profits using Bitcoin Minetrix’s cloud-based method, eliminating concerns with equipment resale and upkeep.
BTCMTX Achieves $2 Million in Funding
In the wake of the surge by Filecoin and markets at large, BTCMTX has successfully raised over $2,000,000 in its presale phase. This achievement underscores the growing confidence and support within the cryptocurrency community for the innovative solutions and opportunities Bitcoin Minetrix presents. The substantial fundraising not only highlights the platform’s potential but also signifies a strong endorsement of its mission to democratize and simplify cryptocurrency mining for a broader audience.
Announcement! 📢#BitcoinMinetrix has achieved a monumental milestone, surpassing $2,000,000 raised!
We are now also less than 40 minutes away from the start of Stage 3! 🪙 pic.twitter.com/iZENKYsxcd
— Bitcoinminetrix (@bitcoinminetrix) October 23, 2023
With its commitment to transparency, accessibility, and efficiency, Bitcoin Minetrix is poised to play a significant role in reshaping the landscape of cloud mining, making it more inclusive and rewarding for all levels of cryptocurrency enthusiasts and investors. As you watch out for Filecoin, don’t miss out on BTCMTX’s presale.
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