Filecoin Onchain Cloud is built for AI agents. It works as a programmable storage and payments layer. AI agents are a new class of cloud users with autonomous systems that need to store, retrieve, and pay for data without relying on humans. According to the announcement, over 100 teams started building tools for AI agents, dApps, workflows, and dataset indexing. The teams joined when Filecoin Onchain Cloud was on testnet last November. Mainnet data shows 49.41 Tebibytes stored in 478 active datasets, with 81 payer wallets linked onchain through Filecoin Pay.

Filecoin launches Onchain Cloud for AI agents

The mainnet launch brought in new updates, including two-copy replication, an updated Synapse SDK, and production-grade storage providers. The two-copy replication feature means that every upload using the Synapse SDK lands on two independent storage providers. The first provider stores the data, while the second provider pulls directly from the first, without utilizing extra bandwidth. Each copy generates its own onchain proof. If one provider fails, the system replaces it automatically.

The Synapse SDK uses viem instead of Ethers, improving TypeScript support and speed. Uploads are mirrored across providers automatically, without affecting performance. Production-grade storage providers have been onboarded, tested, and approved for mainnet. They must meet specific performance criteria, including a storage success rate of 95%+, a PDP fault rate below 1%, and a retrieval success rate above 95%. If a provider fails to meet these thresholds, they are removed from the network.

The Proof of Data Possession (PDP) explorer is available and lets anyone check proof status, provider performance, and fault history. Despite the positive news, Filecoin’s native token, FIL, has seen a steep slide in price. It is currently trading at $0.83, which is close to its all-time low of $0.81 recorded last month. FIL dropped 4% in the last 24 hours, 8% in the last week, and 22.2% in the 30 days. CoinGecko data shows that FIL has lost 99.6% of its value from its all-time high of $236.84 in April 2021.

FIL maintains its position among the top 100 cryptocurrencies. The decentralized storage coin ranks 83rd in terms of market capitalization, with a market cap of $638,926,958 million. Filecoin is facing a decline in terms of total value locked (TVL) as well. DeFiLlama data shows that Filecoin’s TVL slumped by 9.88% in the past 24 hours. It’s currently standing at $6.31 million.

The decline in FIL’s price and TVL suggests that the market is not responding positively to the Onchain Cloud launch. The fees collected by the network are only $1,950 in 24 hours. Filecoin struggles to remain profitable. The amount of stablecoins circulating on the Filecoin network is very low at around $153,629. The full supply of stablecoins is in the form of USDFC.

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Filecoin’s 12% surge in the last 24 hours has been attributed to the listing announcement made by one of the biggest exchanges in South Korea, Bithumb. The move has also triggered enthusiasm in the entire market, with Open Interest on Filecoin growing by 20%.

Filecoin surges by 21% in one week

Bithumb announced in a post on January 6 about its plans to list Filecoin in the KRW market. The exchange announced its initial set price, adding guidelines for safe trading for buyers and sellers. Its initial reference price was pegged at 8,680 KRW while highlighting its limit on buying and extreme sell orders.

The announcement worked like magic, pushing Filecoin to $6.23, up by 12% in the last 24 hours. Filecoin has now registered a 21% price surge in a week, as opposed to its 23% decline in the past month. The token is presently trading at $6.08, with its trading volume seeing a boost of 180% to stand at $524 million in the last 24 hours.

Futures have also exploded, with CoinGlass data showing that futures volume is around $712 million, a 200% rise over the last 24 hours. Open interest has also surged, led by Binance’s $142 million and OKX’s $66 million. The total open interest is also up by 20% to $363 million. CoinGlass data also shows that about $3 million worth of bets on FIL have been liquidated. More than $1.8 million of the figure was on shorts, banking on the value of the asset to tank.

Messari awards FIL as DePIN leader in 2024

Messari announced Filecoin as the leader of its DePIN category in 2024. The company hinted at its exciting advancements in 2025, hailing it as the next big thing in the crypto sector. The company noted strong demand for Filecoin’s services as a result of its consistent increase in storage. The company’s utilization underwent huge growth, growing from 18% in Q4 2023 to 30% in Q3 2024.

Messari’s report highlighted the debut of Filecoin’s Web Services (FWS) framework. It also noted that the Waffle upgrade and Filecoin Fast Finality (F3) were launched to address several scalability and efficiency issues. F3 will see to it that transaction finality time is reduced by 450x and block finalization will be lowered from about seven hours to minutes.

The report also highlighted that Filecoin entered into a partnership with SingularityNET and Theoriq AI to deepen its role in decentralized AI infrastructure. This will help new projects build on Filecoin, which will in turn help to expand its ecosystem.

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