Filecoin has increased in value from about $21 in December 2020 to an all-time high of $139 on March 27th. During the same time span, the coin's market cap increased approximately 720 percent, from around $1 billion to a peak of around $8.2 billion. The project encourages people to join its network by rewarding miners and others who help store data with FIL payments. Filecoin was launched in October 2020 by Protocol Labs founder Juan Benet.