Filecoin (FIL) Price
Source mode: Binance public market data
Reference price
−0.27% in 24h
Market capitalization
$2.15B
24h trading volume
$6.59M
24h range
24h price trend
Hourly closes over the last 24 hours
About this asset
What is Filecoin?
Filecoin is a decentralised storage network where providers rent out disk space and are paid in FIL, using cryptographic proofs to show that they really are storing clients' data.
As of 5 November 2026 at 12:01 UTC, Filecoin (FIL) was priced at $0.8615, down 0.27% over 24 hours, according to Binance public market data. Prices differ between exchanges; confirm on your chosen venue.
- Mainnet
- October 2020
- Developer
- Protocol Labs (founded by Juan Benet)
- Max supply
- 2 billion FIL
- Consensus
- Expected Consensus, based on proven storage
A market for storage
Filecoin was created by Protocol Labs, the company founded by Juan Benet that also developed IPFS, a peer-to-peer file system. Its token sale in 2017 was among the largest of that period, and the mainnet launched in October 2020.
The network works as an open marketplace. Clients pay to have data stored or retrieved, and storage providers compete to offer capacity. Rather than relying on a company's promise that files are safe, the protocol requires providers to prove it on-chain. Data on the network is addressed by its content, a method shared with IPFS, so a file is located by what it contains rather than where it sits.
Proofs, collateral and FIL
Storage providers must show they hold a unique copy of a client's data through Proof of Replication, then keep demonstrating it over time with Proof of Spacetime. Providers who fail to do so lose some of the FIL they have pledged as collateral. The more proven storage a provider contributes, the more likely it is to be selected to produce blocks and earn rewards.
FIL is capped at two billion tokens. A large share is reserved for mining rewards, which are released gradually, partly according to how much storage capacity the network has added. Since 2023 the Filecoin Virtual Machine has allowed smart contracts, opening the door to programmable storage deals and DeFi built around FIL.
What drives the FIL market
Interest in FIL often follows themes such as decentralised infrastructure, data storage for AI and the growth of paid storage deals on the network. Supply dynamics are unusual: providers must lock FIL as collateral, which ties up tokens, while rewards vest over time and later become available to sell.
FIL has a long trading history marked by deep drawdowns since its 2021 peak, a reminder of how volatile infrastructure tokens can be.
Frequently asked questions
How is Filecoin related to IPFS?
Both were created by Protocol Labs. IPFS is a protocol for addressing and sharing files, while Filecoin adds an incentive layer that pays providers to store data reliably.
What is the maximum supply of FIL?
Filecoin's supply is capped at 2 billion FIL.
How do storage providers prove they store data?
They submit Proof of Replication when data is first stored and Proof of Spacetime at regular intervals afterwards. Failures can cost them part of their pledged collateral.