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An analyst from BitBoy Crypto by the name of AJ shared his predictions for Filecoin (FIL) and Arweave (AR) in a YouTube video uploaded over the past 24 hours. In the analysis, he predicted that FIL’s price could climb to between $36 and $55 in the next bull run, and also speculated that AR may soar to between $90-$153 during this period.
According to the analyst, AR has a slight advantage over FIL given the fact that the majority of its supply is in circulation – leaving less than %1 left of AR’s max supply to enter into the market. This is a vast contrast compared to FIL, which still needs to introduce 77+% of its supply into its circulation. Consequently, AJ believes that FIL’s market cap will constantly be chasing its supply.
Therefore, the analyst forecasted that it may take longer for FIL to generate returns for investors. Another concerning metric to take note of is the fact that FIL’s circulating supply has risen more than 580% over the past 2 years.
AJ then went on to mention the fee structures of both projects. FIL charges users a monthly fee to use its storage space, while AR only charges a one-time fee to users. Therefore, users may opt to use Arweave over Filecoin, according to the analyst. Despite this, he revealed that FIL currently still has a comfortable lead over AR in terms of market cap and backing.
From a 24-hour performance perspective, AR had outshined its competitor by printing a 0.45% gain during the past day of trading, according to CoinMarketCap. Meanwhile, FIL suffered a daily loss of 0.46%. As a result, FIL was changing hands at $4.10 at press time and AR’s price stood at $5.33.
Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.