When Capital Hunts Easy Targets: The Filecoin Effect

One of today's top gainers in the crypto market is Filecoin (FIL) — its price jumped 68% in just 24 hours. And this isn’t the first time in the current cycle that we’ve seen an old, almost forgotten coin suddenly come back to life.

We’ve seen it before with XRP, which spent years in hibernation before soaring about a year ago. A few months back, XTZ had its own short but sharp rally. ZEC, now on everyone’s radar thanks to its unstoppable run, also belongs to that same era. And today — it’s FIL’s turn.

Let’s recall: the Filecoin project was launched in 2014. It had everything a proper crypto startup needed back then — a genuinely useful technology (decentralized file storage) and a token with a clear economic purpose (payment for that storage).

Yet, like most cryptocurrencies of that early era, Filecoin never gained real traction. It drifted on the fringes of the market for years — interesting, yes, but seemingly irrelevant.

And suddenly, over the last 24 hours, people started massively buying it. Why? There’s barely any news about it! Did everyone suddenly “discover” its long-ignored potential?

Of course not. It’s not about potential — it’s about how capital behaves these days. Funds are flowing into coins that are easiest to move. And they’re easiest to move precisely because no one cares about them anymore. The crowd forgot them. Or never even heard of them. A relatively small buy can cause a big pump.

Once that happens, attention follows. People start remembering that the coin actually has technology and utility. Then the rally may extend — sometimes dramatically (remember, ZEC rose nearly 3,000% from the bottom!). But if attention fades, the same capital that pushed the price up will exit just as quickly — like it did with XTZ.

Do you believe Filecoin has more room to run?
If yes — you’ll find the best FIL swap rates on rabbit.io.