Filecoin Gains 13.7% to $1.24 as Volume Reaches $257 Million

Filecoin (FIL) rose 13.7% to about $1.24 on Oct. 12 as 24-hour trading volume reached approximately $257.3 million ahead of the network’s scheduled Solstice upgrade.

The live volume reading is separate from the historical daily figures. Those records show $235.9 million in volume for Oct. 12, compared with $171.9 million on Oct. 11, an increase of about 37%.

FIL’s historical closing price rose from $1.083 on Oct. 9 to $1.12 on Oct. 10 and $1.23 on Oct. 11. The latest move extends the gains reflected in those daily closing prices.

Filecoin’s network version 29, named Solstice, is scheduled for epoch 6470279 on Oct. 19 at 8:59:30 a.m. ET (12:59:30 UTC). The upgrade will be mandatory for Filecoin mainnet node operators and storage providers.

Filecoin is a decentralized storage network, while FIL is its native asset. The Solstice upgrade is a scheduled network change and does not establish a future price direction for FIL.

The Solstice upgrade is scheduled for Oct. 19.