Filecoin (FIL) fell more than 10% Monday as a broad cryptocurrency sell-off pushed the CoinDesk 20 Index down nearly 7%, reflecting elevated risk-off sentiment across markets.
Filecoin on November 19 launched Onchain Cloud, a platform that pairs verifiable decentralized storage with on-chain payments to help developers build applications with greater transparency and data ownership.
FIL jumped roughly 200% last week from $1.20 to $3.90 before a sharp correction that erased about 45% of those gains, leaving traders divided on whether a fresh breakout or a deeper sell-off is next. Ongoing Filecoin ecosystem developments and broader market sentiment will be key determinants.