Crypto storage tokens led gains for the first week of July with Filecoin’s FIL and Storj’s STORJ outperforming large cap tokens such as bitcoin and ether., and although it has retreated slightly since, it has recently gained 15% over the last seven days. Filecoin’s FIL, a competitor of Storj, with an almost $2 billion market value , also gained 12% over the last seven days.
Bitcoin, the world’s largest cryptocurrency by market value, sank 0.7% over the same time period. Ether took a harder hit, losing 3.5%. Bitcoin has traded above $30,000 for a couple of weeks, but has struggled to reach the $32,000 level. “There's more cause for optimism on the back of the ETF filings but there's no guarantee they will yield a positive outcome even if the chances are enhanced by the backing of those involved. It could also be a lengthy process which may explain the stall we've seen over the last couple of weeks,” wrote Craig Erlham, senior market analyst at OANDA.