Filecion, as the absolute king project of the entire market that was strongly promoted by all exchanges including Binance back in the day, had a peak market cap FDV exceeding 500 billion USD (Fil's historical highest price on Binance was 238.2 USD) and at one point surpassed Ethereum's current market cap of 410 billion USD. The foundation of its global market appeal is still quite impressive.
If you haven't participated in the continuous development of Fil over the past few years, you won't be able to find any traces of development from the price during the bear market. After all, this is an era that values appearances; rising prices are considered just, and I don't oppose this—I'm even in full support of it. Price increases can bring traffic, attention, and the external effects of consensus expansion, and most importantly, price increases can help me make money.
So, should Fil rise?
(1) From the perspective of price
Everything has a price; back in the day, the 230 USD Fil corresponding to a 460 billion USD FDV was indeed off the charts for a nascent entity. However, as the founding project with the strongest consensus in the Depin track, Fil, which is listed on all major exchanges, has gone through many years of development and continuous improvement. A 5 USD Fil corresponds to a circulation of a few billion and an FDV just over ten billion. In this new crypto super cycle, it is starting a new wave of increase. What's wrong with that?
(2) Everything present is garbage
Moreover, the more projects you participate in, the more you'll realize that many later projects can't even be compared to Fil, let alone see its taillights. For example, larger ones like Chia, HNT, and the giant pit Swarm, or smaller ones like Crust, OORT (formerly CCN), and the recent Aleo—none of them have surpassed Filecion. Recently, the IO that has seen some improvement and is listed on Binance was also incubated early on by Filecion. It's not to say that Fil is not good; it's that everything present is garbage.
This is also why this round of memes is so crazy, because the infrastructure is still working hard to build, and the bottlenecks are still being broken through. Memes are calculated by the minute; can infrastructure do that? The Shenzhen-Zhongshan Channel, a bridge with a 60 billion RMB investment, has taken the infrastructure madmen 6 to 7 years to build.
(3) In the first quarter of next year, Filecion's mainnet will undergo a significant upgrade.
In recent years, Filecion has been continuously developing and working hard; its code update volume is second only to Ethereum (of course, because the price hasn't risen, Ethereum has also been heavily criticized). Promoting Filecion is not a problem, and in the first quarter of next year, Filecion's mainnet will undergo a major upgrade, increasing the mainnet's efficiency by 480 times and significantly reducing Gas fees. This means that everyone can also participate in some low-quality projects on Fil.
As the saying goes, even black and red are still red; the grassroots support for Fil is much broader than that of many current newcomers. Of course, I also mentioned that if Fil ultimately cannot prove itself, no one will stick with it. Four years is not long for an infrastructure project, but if after four years there is still no hope, that would be a significant problem.