What Will Filecoin Be Worth In 2030?

Last Updated January 14th 2022

6 Min Read

Filecoin Price Predictions in 2030

Filecoin FIL's price in 2030: Smartereum's feature reported projections that Filecoin's value could go up to $450 by 2030.

Crypto analysts believe that Filecoin value can actually reach $1500. For instance, according to Crypto Rating Filecoin can actually reach a value of $1550 by 2030. DigitalCoin, on the other hand, estimates that the highest value that Filecoin might have in this decade is $120, by 2029.

What Will Filecoin be Worth in 2030? Being a volatile cryptocurrency, it is hard to tell how much Filecoin will be worth in 2030. However, we can make some educated guesses by looking at the fundamental analysis of the coin and its competitors.

Filecoin is a decentralized storage solution that uses proof-of-replication to incentivize users with high redundancy to store data on their computers. The market for cloud storage is expected to be worth $390.33 billion by 2028, so there is plenty of room for Filecoin. However, this already established market is dominated by big players like Amazon with their S3 storage service.

Recent reports indicate Amazon Web Services Q3 revenue grew by 39% this year to hit $16.1 billion. In 2019, Forbes estimated that AWS could be worth nearly $400 billion on a standalone basis.

This means that AWS controls a huge chunk of the market share in cloud services, which would be hard to beat. Google, Microsoft, and Alibaba are also huge companies in the cloud computing space.

Filecoin is being developed by Protocol Labs. This San Francisco-based company does not have the resources of large corporations like Amazon or Microsoft.

The crypto project should be able to take away some market share from the big players, but it is unlikely to gain a large percentage of the cloud storage market in the future.

So, what will it be worth in 2030?

What Will Filecoin Be Worth In 2030?

We could give you figures of how much we think FIL will be worth in 2030. But given that cryptocurrencies are impossible to predict, we would be lying.

However, what we can do is give you an idea of how much Filecoin might be worth by looking at some factors that will drive its price gin forward.

Let's quickly go over these factors.

1. Demand for Decentralized File Storage

If more people choose decentralized over traditional file storage systems in the future, Filecoin prices will go up.

Filecoin is built on top of IPFS, which enables users to upload and download files from the blockchain. This decentralized file storage market is still in its infancy, with a lot of room for growth. With that said, using traditional cloud storage over decentralized file storage options still makes sense when it comes to privacy and security.

The market for cloud storage is expected to be worth over $390 billion by 2028. This is a huge pie that Filecoin has the potential of taking a slice of if its developments go smoothly.

2. Competitors in Decentralized Storage Market

Apart from Amazon, other companies are trying to take on Filecoin in the decentralized storage space.

Siacoin is a decentralized cloud storage platform that competes directly with Filecoin and IPFS. Its blockchain network has over 5 petabytes of data stored on it, which represents a real threat to Filecoin if it does not scale well enough.

Storj is another competitor for Filecoin in the decentralized storage market. The company does not offer its services on the blockchain but has over 100 petabytes of data stored in it.

Filecoin is also in direct competition with Swarm.

While both projects aim to be decentralized file storage solutions, Swarm is more focused on being a web hosting service. They both want to decentralize info, which is why Filecoin and Swarm are going to be going after the same users.

3. Demand for Anonymous Storage Options

As more people become aware of how easy it is to track digital footprints, they will seek out anonymous storage options that protect their privacy.

A study done by Cambridge University revealed that out of the top 100 websites in the world, 26% track their users. This means that it is very possible for people's online behaviour to be tracked and used against them.

The need for anonymous storage options is growing every day as more people are starting to realize how important privacy is. As Filecoin becomes known as a solution for this need, it could become very popular.

4. Future Government Regulations on Cloud Storage

Governments across the world are looking for ways to control the flow of data. They want a bigger say in how companies store information, which makes it possible that they will introduce new regulations.

This is likely going to hurt traditional cloud storage providers because of their centralization. Filecoin could be one of the beneficiaries of these changes because of its decentralized nature.

However, if Governments also go after cryptocurrencies like Filecoin, it may be affected as well.

5. Price of Bitcoin and Ethereum

Filecoin's performance will depend on the price movement of Bitcoin and Ethereum. These two cryptocurrencies are currently driving the entire cryptocurrency market, so they have a big influence over altcoins like Filecoin.

Since most cryptos tend to follow Bitcoin, we believe that if BTC moves up in price, Filecoin will also follow it.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

What Are Experts Saying About Filecoin In 2030?

For obvious reasons, not many experts dare to predict the price of Filecoin as far as 2030. But it is possible to estimate the number based on market data - by looking at how Filecoin has done so far.

According to Coin Price Forecast, FIL will start 2030 at around $97. However, it might rise along the way and end the year at $102.

We have also seen some very bullish predictions about the value of Filecoin in 2030. For instance, Priceprediction.net believes that Filecoin will trade at more than $1,000 in 2030.

According to the site, Filecoin will trade between $1,833.19 and $2,216.85 with an average price of $1,896.58 in 2030. Looking at the current growth trajectory, this prediction might be a long shot, and it might be long before we see Filecoin crossing the $1,000 milestone.

However, anything is possible in the crypto market, especially since we've seen coins go from $1 to $100 and even $30,000 in a matter of months.

When Will Filecoin Reach $100?

Filecoin is currently trading at $28.62, according to CoinMarketCap. This means that it is way below its all-time high of $237.24, which was reached on 1st April 2021.

As a result, Filecoin has a huge potential to hit $100 very soon if its development continues at this rate.

We believe that this could happen in the course of next year, although there is a chance it might take longer.

According to price analyst Wallet Investor, the FIL coin might hit $100 in March 2023 or earlier.

Obviously, we can't know exactly when this will happen, but we can be sure that as Filecoin's development progresses, the price of the coin will also go up.

Check Out: Is It Worth Investing In Filecoin?

Conclusion

Filecoin reached an all-time high of $237.24 in April 2021, but it has since fallen below that level due to the bear market. Filecoin's mainnet launched successfully in October 2020, which means that now is the time to buy it because its price is very low compared to its all-time high.

As development continues on the platform, we can expect a lot of new investors to start buying FIL coin.

If Filecoin becomes one of the most popular decentralized file storage solutions and Governments introduce stricter regulations on cloud storage providers, its price will soar very high over the next few years. We believe that Filecoin can reach $100 within 2022 or 2023 if it makes its way up to being one of the top 20 cryptocurrencies.

This will be a great time to invest in Filecoin because it is trading at very low levels right now, so if it reaches $100, there are high chances of making huge profits.