Filecoin (FIL) has risen more than 55% in the past 24 hours, hitting $2.10, as investor sentiment turned bullish ahead of a series of major ecosystem upgrades and events.
The decentralized storage network’s rise has been driven by a combination of AI-driven demand, technical breakout patterns, and anticipation surrounding the Filecoin Developer Summit and DePIN Day later this month.
According to industry analyst @CryptoBoss1984, Filecoin’s rapid rise is linked to its growing role in artificial intelligence and… Decentralized Physical Infrastructure (DePIN) sectors.
The network’s decentralized storage capabilities are becoming increasingly attractive for AI data management. The recently launched RetroPGF-3 initiative has injected 500,000 FIL into over 200 ecosystem projects, driving developer activity and adoption.
Filecoin also announced collaborations with major institutions, including the Smithsonian, MIT, and Solana, which are expected to accelerate integration across academic, cultural, and blockchain ecosystems.
Additionally, the network upgrade to version 26 reduced gas fees by 50%, resulting in a 25% increase in daily new trades and 30% usage growth – clear indicators of strengthening fundamentals.
The market is now looking forward to the Filecoin Developer Summit (November 13-15) during DevConnect and DePIN Day (November 18) in Buenos Aires.
Both events are expected to highlight AI and decentralized infrastructure innovations, with potential announcements related to the Filecoin Virtual Machine (FVM) and Persistent Proof of Data (PDP).
These updates are expected to enhance the network’s scalability and expand its use cases beyond storage, positioning Filecoin as a key player in the Web3 data economy.
From a technical perspective, FIL recently broke out of a bearish expanding wedge pattern, a setup that is often seen before sustained rallies. Analysts point out that if the momentum continues, the symbol may target the $5 level in the short term. On-chain data also reveals whales accumulating ahead of the Dev Summit, indicating renewed institutional and trade interest.
Adding to the bullish narrative, the maturity cliff ended in October 2026, reducing major token openings and tipping Filecoin supply dynamics towards deflationary territory – a rarity among large-cap crypto assets.
With daily trading volume exceeding $1.77 billion and a market capitalization of $1.48 billion, Filecoin’s rise underscores growing confidence in its pivot to AI, DePIN, and decentralized data infrastructure.
