FIL hit the top of the trending charts, but the price barely moved. It’s now at 0.915, down 0.2% over 24 hours.
There’s actually been plenty of good news for FIL this month. On 10/15, the six-year unlock for early investors was completed. The project said daily new supply would drop by 75%. On 10/20, the Solstice upgrade went live, shifting block rewards toward storage providers with paying clients and burning the portion that isn’t earned.
As for the price, FIL opened at 1.019 on 10/20 and is now at 0.915—giving back another 10%. Looking further back, it peaked at 1.276 on 10/11, nearly 30% above where it is now.
Between 8 and 10 a.m. Beijing time today, two hours of trading totaled around 2.65 million U, several times more than in other periods. Yet the price was slammed from 0.931 to 0.901. At 2 p.m., it plunged again to 0.897.
Futures open interest stands at 56.61 million tokens, or about $51.8 million. The funding rate is +0.0099%, so longs are still paying up.
I think it’s true that supply has fallen, and it’s also true that buyers haven’t shown up.
0.897 was the low printed this afternoon. If it breaks below that, I’m not buying either.
$FIL
#FIL #Filecoin
There’s actually been plenty of good news for FIL this month. On 10/15, the six-year unlock for early investors was completed. The project said daily new supply would drop by 75%. On 10/20, the Solstice upgrade went live, shifting block rewards toward storage providers with paying clients and burning the portion that isn’t earned.
As for the price, FIL opened at 1.019 on 10/20 and is now at 0.915—giving back another 10%. Looking further back, it peaked at 1.276 on 10/11, nearly 30% above where it is now.
Between 8 and 10 a.m. Beijing time today, two hours of trading totaled around 2.65 million U, several times more than in other periods. Yet the price was slammed from 0.931 to 0.901. At 2 p.m., it plunged again to 0.897.
Futures open interest stands at 56.61 million tokens, or about $51.8 million. The funding rate is +0.0099%, so longs are still paying up.
I think it’s true that supply has fallen, and it’s also true that buyers haven’t shown up.
0.897 was the low printed this afternoon. If it breaks below that, I’m not buying either.
$FIL
#FIL #Filecoin