Shanzhai Season Bull Market, Filecoin is Worth Attention!
From a monthly perspective, Filecoin has been in a long period of consolidation at the bottom. The longer it consolidates horizontally, the higher it rises. After the main decline of the bear market, it has been consolidating for two years, and the accumulation of main funds and the turnover of retail investors have been very sufficient. The first target is to see if it can break through the previous high from March this year and reach $15. After that, we will see if the bull market can initiate a trend and unlock the terrifying upward momentum of FIL.
In the last bull market, FIL created the most powerful flywheel effect in cryptocurrency history, pushing its total market value to a peak of $500 billion. Of course, this same mechanism also led to a severe overshoot during the bear market. Its mechanism acts as an amplifier for both bull and bear markets.
1. As the first absolute king project in the entire market strongly supported by Binance and all exchanges, at its peak, the fully diluted valuation (FDV) exceeded $500 billion (the highest price of FIL on Binance was $238.2), surpassing the current market value of Ethereum at $410 billion. The global market appeal is still very strong, and it includes exchanges like Coinbase that allow traditional compliant funds from the U.S. to enter.
2. The concept of Depin was born only after Filecoin, which created this track. Many years later, it still appears to lead the Depin track and concept. You can never avoid Filecoin when trading Depin.
3. Take a look at Grayscale's holdings; now traditional U.S. funds are closely monitoring Grayscale's holdings for large-scale rotations. I believe that among the dozen or so assets in Grayscale’s holdings, besides BTC, ETH, and SOL, FIL should be the one with the highest global consensus.
4. In fact, over the past few years, this king-level project $FIL has done a lot in infrastructure, with code updates only second to Ethereum. It has achieved many results, including storage, data, computing, and AI (little-known fact: besides the VC led by IO, IO was mainly involved in incubating FIL and SOL together early on, as seen on IO's official website). It's just that the coin price is sluggish, and everyone hasn’t noticed. Once the coin price rises, I believe everyone will see it.
