Filecoin entered the list of top 10 cryptocurrencies, surging 40% in one day

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Cryptocurrency Filecoin (FIL) has entered the list of top 10 after the digital asset surged approximately 40% in 24 hours. Filecoin is the 9th largest cryptocurrency in the world with a market capitalization of more than $13 billion.

According to the latest data published by Coinmarketcap, Filecoin is now more valuable than digital currencies such as Litecoin, Chainlink, Theta, Stellar and Bitcoin Cash. The cryptocurrency is now up by more than 150% in the last 7 days.

As of writing, it is trading near $220 with a total market capitalization of around $13.8 billion. The cryptocurrency experienced a notable surge in demand last month after Grayscale, the world’s largest crypto asset manager, added Filecoin to its list of investment trusts.

Grayscale introduced five new digital currency investment trusts last month including Basic Attention Token (BAT), Chainlink (LINK), Decentraland (MANA), Filecoin (FIL) and Livepeer (LPT) investment trusts. Filecoin was trading at around $60 at the time of the announcement. The digital currency has risen more than 250% since that announcement.

Grayscale’s Cryptocurrency Holdings

The cryptocurrency asset manager announced yesterday in a Tweet that the firm has now more than $45.6 billion worth of digital assets under management. According to the latest details published by Grayscale, the company has nearly $7.8 million worth of Filecoin (FIL) under management. It has accelerated its accumulation of Bitcoin, Ethereum and Litecoin in the last few months amid a significant increase in crypto prices. Grayscale has $38.5 billion worth of Bitcoin under management. The company’s Ethereum trust has nearly $5.8 billion worth of ETH.

Filecoin is not the only cryptocurrency that has gained considerable value in the last few days. Ethereum, the world’s second-largest cryptocurrency, has increased by more than 20% in the last 7 days. Moreover, Polkadot, Uniswap, and XRP have reported substantial gains in the few days. Additionally, cryptocurrency Klaytn is up by more than 40% in a single week.

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