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The U.S. equities stayed flat as the major cryptocurrency tests a half year high. The top mover for today is FIL, which soared by 15.6% in the past 24 hours as a new software update could optimize data onboarding.
The cryptocurrency FIL is the underlying token that powers the Filecoin network. It is used to pay for data storage, data retrieval and any other transactions that may occur within the network. Filecoins’ recent outperformance comes as the transaction cost cold lower by 40% from optmised data onboarding for the Filecoin network. The decreasing storage on decentralised providers could enhance its competitive advantage against the centralised players, attracting new users to come in.
Check Out the Latest Prices, Charts, and Data of FIL/USDT Here!
The Hong Kong government has established a task force dedicated to promoting the development of Web3 technology. Led by the territory's financial secretary, Paul Chan, the group includes government officials, regulators, and 15 non-official members, including industry experts. The task force has a two-year period to provide recommendations for a sustainable and responsible development of Web3 in the region, with the aim of positioning Hong Kong as a leader in the sector. The move follows an official policy statement on Virtual Assets in 2022 that received a positive response from the markets. Hong Kong has also launched its Virtual Asset Trading Platform handbook, which provides guidelines for Web3 companies looking to operate in the country.