Filecoin sent files to the gap but the FIL value did not expire.

The Filecoin Foundation recently announced the successful deployment of the Interplanetary File System (IPFS). This achievement involves transferring files to an orbiting satellite, which could herald a new era in space communications.

Despite the significance of the news, the price action of FileCoin's native token FIL has remained muted.

Filecoin sends files to space

The company, in collaboration with Lockheed Martin, carried out the mission of IPFS – Decentralized Content Distribution System – to demonstrate decentralized technologies in space. This is especially useful for improving communications over long distances and in difficult environments.

A notable feature of this display is the distribution of the IPFS white paper and an image of the FileCoin Foundation mascot using a version of IPFS on Lockheed Martin's SmartSat technology. SmartSat is a software platform that allows for flexible and rapid mission changes.

Martha Belcher, President and Chair of the FileCoin Foundation, highlighted the original vision of IPFS.

“IPFS is called an ‘interplanetary' file system because from the beginning, IPFS was envisioned as a technology for creating networks in space. We couldn't be more excited to make that vision a reality,” said Belcher.

Read more: What is IPFS?

The mission emphasizes several advantages of using IPFS for spatial communications:

Improved connection speed: The traditional centralized Internet model is less efficient in space. In contrast, IPFS enables access to data from the nearest source, reducing critical delays in spatial operations. Improved data authentication: IPFS assigns a unique identifier to each piece of content, facilitating data integrity verification. This is particularly useful for space-based data such as satellite imagery. Increased data resiliency: Spatial data storage faces risks of corruption and hardware damage. IPFS reduces these risks by allowing for data storage in multiple locations, thereby increasing data resiliency.

FIL price response is muted

Despite these advances in space technology, there has been little reaction in financial markets. Filecoin's native token, FIL, continues to trade in the $6 range, experiencing resistance from recent pricing trends.

Recently, FIL failed to cross the descending trend line and experienced a bearish trend, a pattern that is part of a symmetrical triangle seen on the weekly chart. This trend suggests potential bearish pressure on FIL, which could lead to the lower bound of this pattern at $3.70.

Read more: Filecoin Staking: How to get started

For FIL to reverse the current trend and start an upward trend, it must successfully break through the $7 resistance level. Therefore, if the resistance is broken, the price of FIL may rise to $11.