LongHashX, Protocol Labs to Launch Filecoin Virtual Machine Genesis Cohort, an Accelerator Focused on Web3, AI

LongHashX, which claims to be one of the world's leading Web3 accelerators with the strong network in Asia, is continuing its partnership with Protocol Labs, the creator of Filecoin and IPFS, in order “to launch the Filecoin Virtual Machine (FVM) Genesis Accelerator.

Timeline of Filecoin

Bitmain, the mining rig manufacturer, has announced the launch of a new rig that mines the digital currency filecoin (FIL). Similar to the company's KAS Miner KS3, the new FIL miner carries a hefty price tag of $38,888 per machine.

A recent report by Messari reveals that Filecoin, a decentralized storage protocol, has seen an increase in storage deals on its network. Currently, the protocol averages 954.2 pebibytes (1.07 billion gigabytes) worth of storage deals, while its raw storage capacity stands at 12.2 exbibytes (14.1 billion gigabytes).

Filecoin (FIL), the native token of the decentralized Filecoin network, has experienced a significant price increase in the past 24 hours. CoinGecko data reveals that FIL's value has risen by 16.47%, pushing its price to $4.73.

In a dramatic twist, Filecoin's top rival, Storj, a decentralized storage service provider, is leading the altcoin momentum today. According to data from CoinMarketCap, STORJ is changing hands at a price of $0.5296, up by 51.55% over the past 24 hours.

Filecoin Virtual Machine (FVM) is gaining traction among developers a few months after it was unveiled. In a statement, the developers noted that the ecosystem had seen its DeFi ecosystem and the number of smart contracts jump.

The higher timeframe charts showed Filecoin bulls were spectacularly unsuccessful at driving significant price rallies since September 2021, and the near-term expectations are also bearish.

Key Points: Uniswap community is abuzz with excitement as they conduct a temperature check vote in overwhelming support of the proposal to deploy Uniswap V3 to the Filecoin Virtual Machine (FVM). With the voting deadline set for June 18, the approval rate has already reached an impressive 100%, indicating a strong consensus among Uniswap users.

Despite SEC's pressure, Grayscale representatives refused to admit that FIL, the native asset of the Filecoin L1 blockchain, should be regulated as security. Nevertheless, its registration statement on Form 10 is being withdrawn.

Uncertainty looms over cryptocurrency's end game in the U.S. after several events within the week. Grayscale, a leading digital asset management firm, recently filed a request to withdraw its application for a Filecoin (FIL) trust product, per Global Newswire.

Filecoin price analysis indicates the behavior over the past 48 hours reveals an upward trajectory initially, followed by a notable shift further towards a bullish movement, leading to a substantial increase from its position at $4.408. On May 19, 2023, the price experienced a significant crash, resulting in a depreciation of $4.