Can Aleo's coin price replicate Filecoin's trend?
In previous analyses, it has been compared to Filecoin, with the same star-studded background, and surprisingly, even the project rhythm is identical. In 2020, after the Filecoin mainnet finally launched in October, miners faced a long 5-month dark period; the large number of staked coins made it difficult for miners, as not buying coins meant their machines would stop, and buying coins was too costly, with no lending solutions offered by the project team. Miners hoped to buy staked coins at low prices while fearing the coin price would indeed drop. This led to increasing resistance in the community, and I even organized a protest group at that time. However, as the project progressed, miners realized that the existence of staked coins actually reduced a significant amount of selling pressure. Due to the low circulation, the coin price rode the wave of a major market trend, reaching $236 in April 2021, with early entrants who persevered making a fortune.
Looking at Aleo, it also launched around a similar timeframe, and recently, due to the continuous decline in coin price, some high-power mining machines are facing shutdowns. Moreover, the project team announced algorithm modifications, completely shattering the mining space for low-end cards, leading to widespread complaints in various mining groups. However, through previous analyses, we found that modifying the algorithm was not a hasty decision; the goal was to lay a solid foundation early in the mainnet. Currently, the project’s advancement and media promotion are all proceeding normally, so as long as liquidity flows into altcoins, Aleo still has the hope of replicating Filecoin's trend. Furthermore, Aleo secured $298 million in financing back in 2022, and after 2 years of waiting for the mainnet launch, the VC big shots not only haven't made money, but the tokens are also locked for 1 year. If they don’t leverage the market to make a profit, how can they recoup their investment? Can the big shots' money be easily lost?
So, how much do you think Aleo's coin price will rise in this bull market? You can let me know in the comments. BTC4390
