Learn what factors affect the price of FIL in one article? Download the APP to get computing power and easily own BTC/ETH/FIL

Led by the "big brother BTC" and "big brother ETH" in the currency circle, the market gradually warmed up, and the price of FIL also began to rise gradually. The current block height of the Filecoin network is 1054632, the effective computing power of the whole network is 9.685EiB, the total pledged amount is about 104 million FIL, the total number of node accounts is 1204198, the number of active node storage providers is 3046, the average mining income in 24 hours is 0.0340 FIL/TiB, and the new computing power cost is 5.96FIL/Tib. The current FIL circulation is 163025729FIL.

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Let's take a look at the data of 238U, the highest point of FIL market in early April. On April 2, 2021, the total circulation of FIL was 109.29 million, of which 20.48 million were destroyed and 55.82 million were pledged, and the actual circulation in the market was more than 34 million. Compared with the market in early April, the actual circulation of FIL in August was more than 3 million less, indicating that the output is increasing and the circulation is decreasing, indicating that more people are choosing low-level packaging mining machines. In this stage of absorbing funds, the price increase is caused by the market.

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Filecoin will reduce production on October 15. According to Filecoin's official release rules, Filecoin will reduce production for the first time on April 15, 2021. The original production was about 648,000 per day, including the release of SAFT, foundation, team and ecology. On April 15, the SAFT six-month period was fully linearly released, and then the coins circulating in the market will be reduced by 280,000 per day.

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On October 15, Filecoin will usher in the second production reduction, and all SAFTs will be released linearly for one year. By October 15, the FIL circulating in the market every day will be reduced by 87,183 compared with before, that is, the FIL circulation is expected to decrease by 29,057 per day, and the daily FIL release will be reduced by 23.8% compared with the current situation. The FIL market circulation will once again enter a trend of supply exceeding demand. The block rewards of storage providers will not be affected. As the daily pledge and destruction volume continue to increase, the actual circulation of FIL will become smaller and smaller, which is undoubtedly good for the market. The total issuance of FIL coins is constant and will never be increased. It is halved every six years, and the production slowdown is small, and FIL will become more and more scarce. As Filecoin is applied, the value of FIL will rise immediately. The more widely used it is, the greater the demand for FIL, but the decline in production will lead to a shortage of supply, which will undoubtedly increase the price of FIL.

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For example: BTC has been halved every four years, and it has long been at the top of the currency circle due to its scarcity. Ethereum has always been a mainstream currency because of its smart contract application. As for Filecoin before and after the reduction in production, the price of FIL in February was around 22U, and it reached 238U on April 1. In addition to its application value factors, the reduction in production is also one of the reasons for the increase in the price of the currency. Although there will be a reduction in production, there is no need to worry about the income. Miners and investors are in a parallel relationship and do not affect each other in terms of production. On the contrary, after October 15, as the circulation decreases, the selling pressure in the secondary market decreases, which is very likely to be a big positive for the price trend of FIL in the secondary market.

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Recently, momack2, an official from Protocol Labs, announced in Slack: “Congratulations to the Filecoin network for completing the amazing achievement of breaking through 1 million block height across the entire network. Thank you to all storage providers, customers, developers, and token holders who have made the past million epochs so amazing, thank you for everything you have done for this network and community! Looking forward to many exciting milestones still coming with you all!”

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This will be an important milestone, marking the transition of the Filecoin network to sustainable development. The vigorous development of the ecosystem is a testimony to the popularity, practicality and popularity of the Filecoin network, and it is also a testimony to people's optimism about the long-term value of IPFS distributed storage technology.

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Many friends want to participate in it. So is it better to buy coins directly? Or is it better to mine? If you buy coins directly, the number of coins will not increase. If you buy one coin, then you will always have only one coin. If the price of the coin falls, you need to bear certain risks! Mining is very stable. Even if the price of the coin falls, the number of coins we produce every day will increase. Mining belongs to the primary market, and buying coins belongs to the secondary market. The biggest advantage of mining is that you can get the most coins at the lowest cost! The coins bought on the exchange are also mined by others! Why not mine them yourself? Relatively speaking, mining is more stable.

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