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By CD Analytics, Will Canny|Edited by Sheldon Reback
Aug 8, 2025, 11:35 a.m.
- FIL bounced 5% from its 24-hour low.
- Elevated trading volumes suggest institutional participation.
Filecoin
demonstrated measured volatility, trading within a 5.4% range in the last 24-hours, according to CoinDesk Research’s technical analysis model.
The model showed that despite experiencing a mid-session decline to $2.39 at 16:00, Filecoin staged a textbook recovery, and bounced 5%.
STORY CONTINUES BELOW
Elevated trading volumes exceeding 2.8 million units during the correction phase suggest institutional participation, while sustained volume during the recovery confirms what market strategists characterize as sophisticated buyer interest at strategic price levels, according to the model.
The Filecoin Foundation and Ava Labs have launched a native cross-chain data bridge between Avalanche C-Chain and Filecoin, according to a post on X. This new system connects high-speed smart contracts with secure data infrastructure through the Filecoin Virtual Machine.
The rally in Filecoin came as the wider crypto market also rose, with the broader market gauge, the Coindesk 20, recently up 3.1%.
In recent trading, FIL was 2% higher over 24 hours, trading around $2.50.
- FIL demonstrated controlled volatility within a $0.13 range representing 5.4% spread between session low of $2.39 and high of $2.52 during the 24-hour trading period.
- Strategic upward momentum emerged from 19:00 onwards, with systematic recovery carrying through the overnight session
- Elevated volume activity exceeding 2.8 million units during the 14:00-16:00 correction window confirmed institutional participation levels
- Volume acceleration exceeding 50,000 units during the 10:06-10:07 window confirmed sustained institutional momentum that market strategists interpret as evidence of continued corporate adoption potential.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
CoinDesk Analytics is CoinDesk’s AI-powered tool that, with the help of human reporters, generates market data analysis, price movement reports, and financial content focused on cryptocurrency and blockchain markets.
All content produced by CoinDesk Analytics is undergoes human editing by CoinDesk’s editorial team before publication. The tool synthesizes market data and information from CoinDesk Data and other sources to create timely market reports, with all external sources clearly attributed within each article.
CoinDesk Analytics operates under CoinDesk’s AI content guidelines, which prioritize accuracy, transparency, and editorial oversight. Learn more about CoinDesk’s approach to AI-generated content in our AI policy.
Will Canny is an experienced market reporter with a demonstrated history of working in the financial services industry. He’s now covering the crypto beat as a finance reporter at CoinDesk. He owns more than $1,000 of SOL.
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By Jamie Crawley, CD Analytics|Edited by Parikshit Mishra
11 minutes ago
Internet Computer defends key support with multi-million unit volume surges, fueling a breakout toward $5.40 resistance
What to know:
- ICP gained 2.29% in the 24 hours to Aug. 8, moving from $5.25 to $5.37 within a $0.26 range.
- Volume spikes reached 3.13M and 6.93M units, far above the 876K baseline.
- Price held firm at $5.24–$5.27 support before breaking $5.36, challenging $5.39–$5.42 resistance.
