Like the market indicators, Filecoin’s on-chain metrics also supported the sellers. Santiment’s chart revealed that FIL’s demand in the futures market was decreasing as its Binance funding rate went down last week.’s development activity decreased considerably over the last seven days, reflecting the lessened efforts of the developers in improving the network.
A setback for FIL was that its price decline was accompanied by a hike in volume, which legitimized the downtrend. While its price plummeted, negative sentiments around FIL increased.revealed that after a significant increase in FIL’s TVL in the previous month, the growth slowed down.Subscribe to get it daily in your inbox.
Source: News Formal (newsformal.com)
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