What's Behind FIL's Recent Pump and Why It Hasn't Gained Price Appreciation: Exploring Filecoin's Supply and Development Landscape

    Filecoin (FIL) has seen a surprising rise in price lately, causing both holders and non-holders alike to take notice. However, a closer look at the overall chart reveals a different story. It's obvious that the coin has experienced significant fluctuations, with the chart resembling that of a scam coin.

    Despite this, there is much to be optimistic about. The recent introduction of the File Virtual Machine (FVM), scheduled for March 23rd, brings smart contract functionality to Filecoin. This is significant because it transforms Filecoin into an Ethereum-like Layer 1 blockchain with storage capabilities. For short-term traders, it may be wise to mark this date on the calendar and sell beforehand.

    Additionally, a series of short squeezes triggered an explosive rise in price, but it's important to note that the coin supply has prevented FIL from experiencing sustained growth. The distribution supply to the total supply is still only 19.81%, indicating that there is still plenty of room for a large amount to be dumped in large quantities.

source: https://observablehq.com/@starboard/chart-fil-protocol-circulating-supply

    As seen in the distribution chart, the supply of coins to the market is still increasing. The area under the black arrow shows two factors that cause deflation: the amount of filecoins used as fees and the amount staked. However, it's not being incinerated or staked at the rate of inflation, so coin inflation and selling pressure is inevitable.

source: https://dropstab.com/coins/filecoin/vesting

    Investment companies' supply lock-up ended in 2022, but the foundation's supply remains, with miners comprising 70% of the total volume. While this presents some challenges, there are positive factors for the price, including the fact that the amount of locked-up investment companies no longer exists, and staking and incineration are steadily increasing. If the volume of staking and incineration can withstand the volume of miners, we can expect to see a steady increase in prices.

source: https://tokenterminal.com/terminal/projects/filecoin

    Filecoin's steady development and the number of developers consistently hovering around 100 are encouraging signs for the future. Despite the challenges, it's clear that Filecoin is a coin with a trusted developer that has earned the backing of great investors. With the introduction of smart contracts, we look forward to seeing Filecoin continue to build and develop a larger ecosystem.

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Three Must-Follow Telegram Channels for Crypto Traders

    Are you tired of missing out on important market news and opportunities due to buried information in charts? Fear not, because there's a solution for that. Telegram has become one of the most popular and convenient communication tools for traders around the world. In this post, we will be highlighting three of the most popular Telegram channels that every crypto trader should be following.

1. Disclose.tv 

    Telegram Link: https://t.me/disclosetv

    With approximately 420,000 subscribers, Disclose.tv is a Telegram channel that provides breaking news from around the world. Although it does not focus solely on cryptocurrency and the stock market, it sometimes delivers critical breaking news that is related to the market. It's not uncommon for them to release news faster than major media companies. With so many subscribers, it's safe to say that they are trusted by many people.

2. Layergg Exchange & Project Alert

    Telegram Link: https://t.me/layergg

    Layergg Exchange & Project Alert is a Telegram channel that provides real-time listing information on major exchanges. Being the first to know when a coin pumps is important in the world of trading. Often, there are favorable factors or the coin gets listed on major exchanges, and being able to hear about these listings before anyone else can lead to making a quick profit. This channel also provides information on various events such as trading competitions held by exchanges.

3. 100eyes Crypto Scanner

    Telegram Link: https://t.me/CryptoScanner100eyes

    The 100eyes Crypto Scanner is a Telegram channel that notifies subscribers when sudden movement occurs for major coins like BTC, ETH, LTC, and XRP. This channel is great because it notifies traders even when they are not actively watching the charts, so they can take action when necessary. Additionally, based on RSI indicators, it informs subscribers of the expected rise/fall and alerts them when prices reach key support and resistance lines. If you're serious about trading, we recommend turning off notifications on other channels and always having this channel on.

    In conclusion, these three Telegram channels can provide a wealth of information and help you stay on top of the latest developments in the cryptocurrency and stock market. If you are a trader who wants to be informed about every opportunity in the market, we recommend subscribing to these channels today!

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