FIL witnessed a major price surge after its listing on Upbit exchange, along with a notable surge in development activity.
By Parth Dubey
Editor Julia Sakovich
Updated
3 mins read
Filecoin FIL $2.78 24h volatility: 1.8% Market cap: $1.80 B Vol. 24h: $594.93 M saw an immediate 7.11% spike after Upbit, South Korea’s largest cryptocurrency exchange, listed the token on its platform. At the time of writing, FIL has stabilized around $2.88.
The listing, which occurred on April 4 at 16:30 KST, introduced FIL trading pairs against the Korean won (KRW). This opened the token to a larger base of South Korean investors.
Notably, the exchange has imposed several trading restrictions to prevent market manipulation. For the first five minutes after the listing, new buy orders were limited. Additionally, sell orders with prices 10% lower than the previous closing price would be restricted.
For an hour after launch, traders were only able to place basic orders, as more complex trading strategies remained temporarily disabled. The exchange has also restricted deposits to the Filecoin network.
Following the listing announcement, FIL’s market capitalization increased by 5% to $1.86 billion, as per the data by CoinMarketCap. On the 4-hour price chart, the MACD indicator shows signs of a potential trend reversal.
Source: TradingView
The MACD line has just crossed above the signal line, suggesting that upward momentum could continue. However, traders should keep an eye on histogram as FIL may face resistance if it turns negative.
The Bollinger Bands reveal massive volatility. FIL’s price spiked above the upper band, suggesting overbought conditions that often lead to retracements. If the price stabilizes near the mid band (20-day SMA), it could indicate a period of consolidation before the next move.
Source: TradingView
Meanwhile, the RSI currently hovers around 56, signaling moderate bullish strength. This suggests that FIL can still move upwards. However, a major spike in RSI indicate an overbought scenario, potentially leading to a pullback.
FIL is currently facing resistance at $3.00, a psychological level that has proven difficult to break. If FIL breaks this level sustainably, it could aim for the next resistance at $3.20.
On the other hand, in the short-term, support is forming around $2.75. A breakdown below this could result in a deeper retracement toward $2.50.
Beyond price action, Filecoin’s fundamentals remain strong. According to Chain Broker, Filecoin saw a 305% surge in development activity, ranking it among the top projects in the Decentralized Physical Infrastructure Network (DePIN) sector.
🎯 TOP PROJECTS BY DEVELOPMENT ACTIVITY GROWTH@arbitrum +1650%@hedera +1385%@axelarnetwork +1015%@Ripple +955%@Uniswap +930%@chia_project +725%@flow_blockchain +485%@Filecoin +305%@CelestiaOrg +225%@MultiversX +215%$ARB $HBAR $AXL $XRP $UNI $XCH $FLOW $FIL $TIA $EGLD pic.twitter.com/MKEMbs6fZn
— Chain Broker 🇺🇦 (@chain_broker) April 2, 2025
Moreover, crypto investor Ucan noted that FIL was among the most mentioned DePIN projects on social media in March, alongside Internet Computer (ICP) and Render (RNDR).
Top #DePIN Projects by Social Media Mentions in March 👀
The Decentralized Physical Infrastructure Network (DePIN) sector is gaining momentum. Here are the top 5 most talked-about DePIN projects last month
🔹 ICP ( $ICP )
🔹 Render ( $RNDR)
🔹 Filecoin ( $FIL)
🔹 Theta (… pic.twitter.com/iiVtFMF2is— 𝖀𝖈𝖆𝖓 (@Ucan_Coin) April 1, 2025
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.
