Filecion was the absolute king project in the market that was immediately listed by all exchanges including Binance. Its FDV exceeded 500 billion US dollars at its peak market value (the highest price of Filecion on Binance was 238.2 US dollars), which once exceeded the current market value of Ethereum of 410 billion US dollars. The foundation of its global market appeal is still very strong.
If you have not participated in the continuous construction of Fil in the past few years, you will not be able to see any clues of development from the price in the bear market. After all, this is an era of appearance, and price increases are justice. I do not object to this, and even agree with it. Rising prices can bring traffic, rising prices can bring attention, rising prices can bring external effects of consensus expansion, and most importantly, rising prices can make me money.
Is Fil worth the increase?
(1) From the price perspective
Everything has a price. The $230 Fil corresponding to a $460 billion FDV was indeed quite outrageous for something newly emerging. However, as the founding project with the strongest consensus in the Depin track, Fil, which has been listed on all major exchanges, has undergone years of development and continuous improvement. Now, with a $5 Fil corresponding to a circulation of over $2 billion and an FDV slightly over $10 billion, starting a new wave of increase in this new crypto super cycle, is there a problem with that?
(2) Everything present is trash
Moreover, the more projects you participate in, the more you will find that many of the later projects, not to mention comparing with Fil, can't even be seen in the taillights. For instance, larger projects like Chia, HNT, and the huge pit Swarm, or smaller ones like Crust, OORT (formerly CCN), and the recently emerging Aleo, which of these has surpassed Filecoin? The recent IO that has gained some traction on Binance was also incubated by Filecoin early on. Changing a line of dialogue to use doesn’t mean Fil is not capable, but rather that everything present is trash.
This is also why this round of memes is so crazy, because infrastructure is still striving to build, and bottlenecks are still being broken through. Memes are measured in minutes; can infrastructure do that? The Shenzhong Channel, a bridge with an investment of 60 billion RMB, has been under construction for 6 or 7 years.
(3) In the first quarter of next year, Filecoin's mainnet will complete a significant upgrade
In recent years, Filecoin has been continuously developing and working hard, with code updates second only to Ethereum (of course, because the price hasn't risen, Ethereum has also been heavily criticized). There is nothing wrong with promoting Filecoin, and in the first quarter of next year, Filecoin's mainnet will complete a significant upgrade, increasing the mainnet's efficiency by 480 times and greatly reducing Gas fees. This means that people can also start launching meme coins on Fil.
As the saying goes, even if black is red, it's still red. The grassroots foundation of Fil is much broader than many of the current newcomers. Of course, I also said that if Fil ultimately cannot prove itself, no one will accompany it all the way. Four years is not long for an infrastructure project, but if after four years there is still no hope in sight, that would be a serious problem.
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