Filecoin Jumps as Six-Year Vesting End Nears, Cutting FIL Supply by 75%

Key Takeaways Filecoin (FIL) climbed 9.4% to $1.22 on October 12 as investors focused on an approaching reduction in token releases. The end of Filecoin's six-year vesting schedule could reduce annualized new FIL supply from 89 million to approximately 21 million. Filecoin is also expanding its decentralized storage business, with greater emphasis on paid services, artificial intelligence and enterprise adoption. Filecoin (FIL) is among the stronger-performing cryptocurrencies on October 12, climbing 9.4% to $1.22 as investors focus on a major change to the token's supply schedule.