FIL Token Slides 3.69% After PDP Launch Amid Market Consolidation and Decentralized Storage Growth

Filecoin (FIL) is currently trading at $2.086 on Binance, reflecting a 3.69% decline over the past 24 hours from an opening price of $2.166. The recent price decrease can be attributed to profit-taking following a multi-day rally and market consolidation after positive technical signals and ecosystem developments, such as the launch of the Proof of Data Placement (PDP) feature and increased attention to decentralized storage. Despite these advancements and bullish sentiment earlier in June, short-term volatility and resistance near recent highs have contributed to the pullback. FIL maintains active trading volume and remains a key player in decentralized storage, with a circulating supply of approximately 665.77 million tokens and a market capitalization near $2.42 billion, though it continues to trade significantly below its all-time high.