From $236 to $1: This veteran storage blockchain token is about to slash its issuance by 75% in one go 🦖
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First, the facts: FIL, or Filecoin, officially announced on September 4 that its vesting schedule will end on October 15. After that, the network’s gross issuance will drop by about 75%. In annualized terms, that means new issuance will fall from around 88 million tokens a year to about 22 million. The project says this is the biggest supply change since the mainnet launched in October 2020. In other words, the full six-year vesting cycle is coming to an end 📉
Just how stark is the contrast? Look at the price. The same FIL that reached a high of $236.84 in April 2021 is now worth just $1.079. That’s a drop of more than 99% from its peak. Its market cap is around $902 million, with about 835 million tokens in circulation and a total supply of roughly 1.957 billion. It ranks 84th by market cap. Yet it’s up about 37% over the past 30 days ⚠️
To be clear, the 75% cut applies to newly released tokens—not tokens already in circulation. When the mainnet launched, allocations for early investors, the team, and the foundation were scheduled to unlock in stages over six years. Once those unlocks end, the daily selling pressure from new issuance will fall sharply. But note: this is not a burn, nor is the total supply being reduced. Block rewards for miners will continue. So the more accurate way to put it is that new supply is hitting the brakes, not that supply is being removed 💥
On the other side, the project also highlighted Filecoin Onchain Cloud and Fil One, aiming to build up paid demand on-chain. Revenue from Filecoin Pay, an on-chain payment tool, is up around 88-fold year over year—from about $663 to roughly $59,000. The absolute amount is still small, but the direction is clear: new supply is shrinking while real paid demand is being pushed higher. If both happen at once, that’s when the balance between supply and demand can truly shift 📈
My take: this structural change on the supply side is worth watching, but don’t rush to treat it as a trigger for a huge rally. The market has already priced in some of the expectations. The real question is whether on-chain paid demand can keep growing after October 15. If issuance falls but nobody uses the network, the price can still go down. On the other hand, if demand really takes off, the impact of shrinking supply will be amplified.
Do you think this 75% cut in issuance marks the start of a long-term trend, or is it another bout of hype ahead of a “buy the rumor, sell the news” moment? Share your thoughts in the comments 👀
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Every day, I’ll bring you the latest hot topics in the crypto market—not just what’s happening, but the logic and opportunities behind it 👀🚀
🕐 最新解读群里更新
First, the facts: FIL, or Filecoin, officially announced on September 4 that its vesting schedule will end on October 15. After that, the network’s gross issuance will drop by about 75%. In annualized terms, that means new issuance will fall from around 88 million tokens a year to about 22 million. The project says this is the biggest supply change since the mainnet launched in October 2020. In other words, the full six-year vesting cycle is coming to an end 📉
Just how stark is the contrast? Look at the price. The same FIL that reached a high of $236.84 in April 2021 is now worth just $1.079. That’s a drop of more than 99% from its peak. Its market cap is around $902 million, with about 835 million tokens in circulation and a total supply of roughly 1.957 billion. It ranks 84th by market cap. Yet it’s up about 37% over the past 30 days ⚠️
To be clear, the 75% cut applies to newly released tokens—not tokens already in circulation. When the mainnet launched, allocations for early investors, the team, and the foundation were scheduled to unlock in stages over six years. Once those unlocks end, the daily selling pressure from new issuance will fall sharply. But note: this is not a burn, nor is the total supply being reduced. Block rewards for miners will continue. So the more accurate way to put it is that new supply is hitting the brakes, not that supply is being removed 💥
On the other side, the project also highlighted Filecoin Onchain Cloud and Fil One, aiming to build up paid demand on-chain. Revenue from Filecoin Pay, an on-chain payment tool, is up around 88-fold year over year—from about $663 to roughly $59,000. The absolute amount is still small, but the direction is clear: new supply is shrinking while real paid demand is being pushed higher. If both happen at once, that’s when the balance between supply and demand can truly shift 📈
My take: this structural change on the supply side is worth watching, but don’t rush to treat it as a trigger for a huge rally. The market has already priced in some of the expectations. The real question is whether on-chain paid demand can keep growing after October 15. If issuance falls but nobody uses the network, the price can still go down. On the other hand, if demand really takes off, the impact of shrinking supply will be amplified.
Do you think this 75% cut in issuance marks the start of a long-term trend, or is it another bout of hype ahead of a “buy the rumor, sell the news” moment? Share your thoughts in the comments 👀
Tap the profile picture to watch the livestream
Every day, I’ll bring you the latest hot topics in the crypto market—not just what’s happening, but the logic and opportunities behind it 👀🚀