This article mainly consists of the following three parts:
- Analysis of Filecoin's historical K-line perspective
- Grayscale Decentralized AI Fund
- Important development transformation of Filecoin in 2024
Track: Decentralized Storage (SEC Securities Concept Storage)
Current price: $3.5
Historical high price: $237.7
Historical low price: $2.33
Market cap ranking: 37
Market cap: $2.04 billion
Recommended holding nature: Long-term holding. The current price is a very good position for establishing a long-term position. Strongly recommend buying.
Buy-in price: $3.5
Expected price: $29 (9x potential)
From the historical K-line analysis, the FIL token has experienced a 99% decline from $237 to a low of $2.33 over a 623-day downtrend period. It then stabilized and consolidated in 2023 for 630 days, with a fluctuation range of $3-13. The current price is $3.49.
The weekly level has seen two higher lows, indicating strong buying demand in the market. In 2024, the K-line structure was changed for the first time, with the price breaking through $11, forming a higher low, and subsequently forming a bullish structure. The price then continued to fall to the current interest demand range. I will invest in FIL tokens and hold for the long term.
Important Development Transformation of Filecoin in 2024
Accelerating the transition to paid transactions: As a storage network, Filecoin should maximize cash flow. While incentive measures are good as catalysts, paid transactions (settled on-chain) represent net capital inflows into the Filecoin economy and can serve as the foundation for unique use cases within our ecosystem. For example, in DeFi, there is indeed an opportunity to provide real services to enterprises (such as converting currency to pay for storage fees), helping Filecoin providers increase their paid services (storage, retrieval, computation). This is crucial for driving cash flow into Filecoin beyond token incentives and supporting sustainable financing for its hardware.
Growing on-chain activities: Filecoin's goal is not just to become another L1 with similar user scenarios. However, as a foundational layer, it does have a unique value proposition that includes "real-world" services. This makes it possible for Filecoin to have unique new use cases (programmable services, DeFi around cash flow, etc.). The establishment of these services and the increasing number of applications prove that Filecoin is not just a "storage layer" but an economy with stable cash flow.
Making Filecoin an indispensable part: The bull market cycle means speed is crucial, and making Filecoin an indispensable part of more teams is also important. There are many emerging themes that can be leveraged, such as chain archiving, computational integration, artificial intelligence, and Filecoin's positioning is also important. When more participants use Filecoin as a core part of their story, the ecosystem will explode. For individual teams, delivering products to users is important. At the ecosystem level, the focus should be on teams that are closest to driving integration and building services on Filecoin.
The vertical areas in our framework are still at a relatively high level, with many targets having their own set of tasks. But more importantly, it is essential for the ecosystem to collectively recognize the correct vertical areas for progress. We will delve into each vertical area and some specific metrics that the ecosystem should start tracking.
Grayscale Decentralized AI Fund - FIL Grayscale Decentralized AI Fund is the first fund that exclusively invests in native tokens of decentralized AI protocols. Grayscale points out that people are concerned that the future will be dominated by centralized AI, and cryptographic technology may establish a more fair and transparent ecosystem. They believe that although the combination of crypto and AI is still in its early stages, the prospects are broad. By harnessing the power of crypto, we can build a more fair, transparent, and trustworthy AI ecosystem.
I know it's really hard to stay calm in this volatile market, but I believe the bull market still exists! Just don't lose patience and hold onto our long-term targets. I believe that in the next 5 months, many assets in the crypto market will have 5-10X performance, so please stay calm, as time is the best friend for realizing value.
Recording my daily trading, sharing the most immediate thoughts and trading details, updated every trading day.
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