Suggestion to go long on Filecoin/FIL
Fundamental:
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Filecoin addresses the boom sector NFT with its project NFT.Storage.
With NFTs based on a decentralized network such as Ethereum,
the NFTs themselves are stored in a decentralized network. But the underlying data
of the NFT is often located on central servers.
With the help of NFT.Storage this problem should be solved.
The metadata of an NFT can be stored securely and decentrally on the Filecoin network with NFT.Storage.
This is intended to make data relating to individual NFTs just as transferable as the NFT itself.
This could play a relevant role in the future, particularly with NFT license rights or other conditions.
NFT.Storage füllt eine Lücke für NFT-Entwickler, die nach einer
“Best-Practice-Methode” suchen, um ihre NFT-Daten sicher zu speichern.
Die NFT-Speicherlösung von Filecoin nimmt somit eine Vorreiterrolle im Krypto-Space ein.
Einige Projekte wie Palm, VideoCoin und mehrere NFT-Marktplätze
setzen bereits auf das Filecoin-Netzwerk, um wichtige Daten abzuspeichern.
NFT.Storage therefore fills a void for NFT developers looking for a “best practice” method to
securely store their NFT data. The NFT storage solution from Filecoin is thus playing a pioneering role
in the crypto space. Some projects such as Palm, VideoCoin and several NFT marketplaces already rely on
the Filecoin network to store important data.
Price Action:
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Not too spectacular as price movement mostly follows BTC
and the fundamental analysis out-weighs the technical anyway. I wouldn't care too much about PA in this case.
So just for completeness.
Three pushes down from 6th September for a stop hunt, double bottom and at the time of writing, price is somewhat caught in a range that first built
around 18th March. There is a lot of older resistance levels to pass through still, but eventually
I'm expecting a strong breakout of the orange triangle.
