Filecoin ($FIL) has experienced a dramatic price surge, climbing over 61% in the last 24 hours to break above $2.17, fueled by renewed interest in AI infrastructure and decentralized physical infrastructure networks (DePIN). This move mirrors the earlier explosion of Internet Computer ($ICP), which saw a 28% jump to $7 with trading volumes exceeding $1.2 billion following the launch of Caffeine AI.
The rally began with $ICP's breakout, which acted as a catalyst for a rotation into $FIL approximately 24 hours later. On-chain data and exchange volumes for $FIL spiked to over $480 million, pushing the token up by nearly 29% and briefly crossing $1.90. Analyst CryptoBoss highlighted this as a classic 2021-style rotation, where traders shift capital from one undervalued AI infrastructure token to another.
Technically, $FIL broke out of a falling wedge pattern, a bullish signal similar to $ICP's pre-surge formation. This suggests potential resistance levels at $2.20, $2.50, and $2.80, with some analysts projecting a run toward $5 if momentum holds. The surge is underpinned by real-world utility, as both tokens are key DePIN players: Filecoin provides decentralized storage for entities like NASA and OpenAI, while ICP focuses on compute resources for on-chain AI applications.
This shift in narrative emphasizes tangible use cases over meme coins, with growing adoption in Web3 and AI data storage. Filecoin's ecosystem is expanding, including services like Quick Sync for encrypted file sharing and increased USDFC stablecoin usage for payments and DeFi liquidity. The combined factors of technical breakouts, high volumes, and AI demand are driving this renewed investor focus.
BNB
BTC
ETH
SOL
USDC
XTZ
NEAR