Decentralized storage network Filecoin’s FIL token has entered the list of top coins many thanks to increased demand that is institutional.

FIL is trading near $217 at press time having a market capitalization of $13.72 billion, having printed a record a lot of $220 Thursday that is early per data source Coingecko.

The cryptocurrency has surged by 42% into the past 24 hours and 150% in 7 days, changing litecoin (LTC, +4.04%) (LTC) as the ninth-largest digital asset by market capitalization.

Inflows to the Grayscale Investments’ Filecoin Trust found the rate on, lifting the cryptocurrency higher thursday.

The trust has raked in 45,500 FIL tokens because the launch on March 17, of which 29,550 were added today, data provided by bybt.com shows.
The planet’s biggest asset that is electronic has transformed into the favored avenue for institutional investors to gain exposure to cryptocurrencies, you start with its early bitcoin (BTC, +1.13%) trust. It really is owned by Digital Currency Group.

On March 17 Grayscale additionally established trusts specialized in attention that is basic (BAT, -2.64%), chainlink (LINK, +2.3%), decentraland (MANA, -1.33percent) and livepeer, expanding its current product suite.

Bitwise, the cryptocurrency asset manager, tweeted Thursday that Filecoin entered its Bitwise 10 Large Cap Crypto Index as of the March 31 index reconstitution that is monthly.