The FIL (FIL) portfolio continues to decline, with a weekly loss of 18% FIL.

Affected by the current market's intense Fluctuation, it continues to decline. The latest market data shows that FIL has dropped by 18% since last week, with a big dump of 10%. Investors are still shocked by the current market loss of Token. However, some developments may restore people's trust in Token, but their impact on the future performance of FIL is still to be observed.

Despite a difficult start in August, there is still a secret to turning the tide for the ecosystem. Yesterday, X accountCricimiento announced that they are partnering with the FIL Foundation to "help promote Argentina's encryption ecosystem" at Aleph, an encryption event in Argentina, with the aim of turning the country into the world's encryption capital.

The event will be held this month, with major encryption institutions supporting the event. This will give the FIL Foundation an opportunity to expand its influence as a major provider of decentralized storage within the Web3 ecosystem. FIL Station has also achieved another victory for the platform. As early as August 2nd, Station announced that 16,911 participants had participated in the platform in July. This number only represents the addresses that have completed work on the platform, but it is still significant as it indicates the active usage of the FIL network.

They attach great importance to improving FIL's ability to store data for Web 3, and have also released the roadmap for Spark, which is a gradual network upgrade that will improve the experience of users and developers on the platform. Features such as better data quality, a public grant writing system, new public tools, and investor incentives will be launched on this basis.

The upgrade of Spark will solidify FIL's position as a top decentralized storage provider. Last month, FIL's entry into the field of artificial intelligence will also help enhance the influence of the Token in the artificial intelligence and data storage industry.

FIL longs are still working to reverse the current market downturn experienced by FIL. But given that the current support level for this token is $3.570, we may see a recovery in the medium to long term.

The current trend of the Token is still worrisome. However, if longs are able to defend its current support level, the Token has a chance to reclaim its early July level of around $4.394. Maintaining a stable price for the Token will be a consolation for longs as it provides them with strong support for any upward trend.

However, investors and traders should remain cautious as market conditions still favor strong downward pressure within the market.

(Data Source: Christian Encila)