$FIL Grayscale Fund continued to increase its holdings of $FIL tokens for 18 consecutive times in 2024
On May 29, 2024, 293,700 tokens were purchased at a cost of $5.85, with an investment of $1,718,100.
On May 30, 2024, 9,316 tokens were purchased at a cost of $5.78, with an investment of $53,800.
On June 3, 2024, 4,134.46 tokens were purchased at a cost of $5.82, with an investment of $24,000.
Current holdings: 1,440,100 tokens. Total cost: $20,490,025,000. Average: $14.22 per token
The 18th order of Grayscale Fund in 2024 is the 51st increase in FIL holdings, with more than 1,440,100 FIL!
Why did Grayscale Fund start buying FIL again in "large amounts" after more than a year? When investing, professional institutions are more willing to do "right-side trading" in the bottom range, that is, they will enter the market only when they are sure that the trend has started. Therefore, they do not buy the "lowest point" but the "certainty". Perhaps in Grayscale's view, the current FIL is at the bottom range. Although the fundamentals have not improved significantly, they will not get worse. The certainty of a better future has increased, so they have begun to continuously absorb chips.
The DePIN (Decentralized Physical Infrastructure Network) movement is rebuilding the physical and digital backbone of the Internet. It leverages Web3 concepts such as decentralization, cryptoeconomics, open source, and transparency to create a scalable alternative to centralized computing, storage, and telecommunications networks. Filecoin is one of the most influential DePIN projects in the world. Since the launch of the mainnet in October 2020, Filecoin has become a leading protocol for decentralized storage. More than 3,000 storage provider systems around the world have contributed 7.8 exabytes of raw storage capacity to the network, and 2.1 exabytes of raw data have been connected to the network.
On May 29, 2024, 293,700 tokens were purchased at a cost of $5.85, with an investment of $1,718,100.
On May 30, 2024, 9,316 tokens were purchased at a cost of $5.78, with an investment of $53,800.
On June 3, 2024, 4,134.46 tokens were purchased at a cost of $5.82, with an investment of $24,000.
Current holdings: 1,440,100 tokens. Total cost: $20,490,025,000. Average: $14.22 per token
The 18th order of Grayscale Fund in 2024 is the 51st increase in FIL holdings, with more than 1,440,100 FIL!
Why did Grayscale Fund start buying FIL again in "large amounts" after more than a year? When investing, professional institutions are more willing to do "right-side trading" in the bottom range, that is, they will enter the market only when they are sure that the trend has started. Therefore, they do not buy the "lowest point" but the "certainty". Perhaps in Grayscale's view, the current FIL is at the bottom range. Although the fundamentals have not improved significantly, they will not get worse. The certainty of a better future has increased, so they have begun to continuously absorb chips.
The DePIN (Decentralized Physical Infrastructure Network) movement is rebuilding the physical and digital backbone of the Internet. It leverages Web3 concepts such as decentralization, cryptoeconomics, open source, and transparency to create a scalable alternative to centralized computing, storage, and telecommunications networks. Filecoin is one of the most influential DePIN projects in the world. Since the launch of the mainnet in October 2020, Filecoin has become a leading protocol for decentralized storage. More than 3,000 storage provider systems around the world have contributed 7.8 exabytes of raw storage capacity to the network, and 2.1 exabytes of raw data have been connected to the network.