Grayscale increased its holdings by 293,700 FIL, and the average cost of all Fil holdings was US$14.3; this was the 16th order in 2024, and the 49th order for FIL, holding over 1.4267 million FIL!
Grayscale Fund's total investment before March 22, 2024: US$10,275,027.
From the first to the 34th time, a total of 109,135 FIL were increased.
On March 23, 2024, the company increased its holdings by 113,500 shares at a cost of US$7.8, with an investment of US$885,300.
In the early morning of March 26, 2024, he increased his holdings by another 55,700 FIL at a cost of US$9.3, with an investment of US$518,010.
On March 27, 2024, 2,670 FILs were added at a cost of US$9.53, with an investment of US$25,445.
On March 28, 2024, 6,840 coins were purchased at a cost of $9.13, with an investment of $62,450.
On March 29, 2024, 351,900 pieces were purchased at a cost of US$9.3, with an investment of US$3,271,837.
On April 1, 2024, 14,000 coins were purchased at a cost of $9.24, with an investment of $129,360.
On April 3, 2024, 37,200 coins were purchased at a cost of US$8.54, with an investment of US$317,688.
On April 4, 2024, 97,600 coins were purchased at a cost of $8.64, with an investment of $843,589.
On April 5, 2024, 11,500 coins were purchased at a cost of $8.48, with an investment of $98,000.
2,801 coins were purchased on April 8, 2024 at a cost of $9.22, with an investment of $26,000.
On April 9, 2024, 19,000 coins were purchased at a cost of $8.65, with an investment of $170,000.
On April 10, 2024, 101,800 coins were purchased at a cost of US$8.53, with an investment of US$868,000.
On April 18, 2024, 4,194 coins were purchased at a cost of $5.84, with an investment of $25,000.
On April 19, 2024, 8,451 pieces were purchased at a cost of $5.59, with an investment of $47,000.
On April 27, 2024, 199,800 coins were purchased at a cost of 5.69 yuan, with an investment of 113.68 million US dollars.
Current total holdings: 1.4267 million.
Total cost: $20,412,049.
Average: US$14.3 per coin.
Why did Grayscale Fund start buying FIL in large amounts again after more than a year? When investing, professional institutions are more willing to do "right-side trading" in the bottom range, that is, they will enter the market only after they are sure that the trend has started, so they are not buying the "lowest point" but the "certainty". Perhaps Grayscale believes that the current FIL is at the bottom range. Although the fundamentals have not improved significantly, they will not get worse. The certainty of a better future is increasing, so they began to continuously absorb chips.
The DePIN (Decentralized Physical Infrastructure Network) movement is rebuilding the physical and digital backbone of the Internet. It leverages Web3 concepts such as decentralization, cryptoeconomics, open source, and transparency to create a scalable alternative to centralized computing, storage, and telecommunications networks.
DePIN is gaining attention due to the huge potential market in these areas and the continued boom in generative artificial intelligence, which has led to a surge in demand for related services. However, the global semiconductor shortage has made it difficult for hardware suppliers to keep up with the growth in demand. These trends have accelerated the search for alternative ways to meet urgent infrastructure needs.
Among them, Filecoin is one of the most influential DePIN projects in the world. Since the launch of the mainnet in October 2020, Filecoin has become a leading protocol for decentralized storage. More than 3,000 storage provider systems around the world have contributed 7.8 exabytes of raw storage capacity to the network, and 2.1 exabytes of raw data have been connected to the network.
Why DePIN is important
A small number of companies now control most of the online storage and computing resources, which raises issues such as data leakage, data access, pricing issues, and distribution efficiency.
The DePIN project is creating a new alternative to the centralized model by using crypto-economic incentives to get people to put their idle resources and funds on the network. This creates a market that can provide services that were previously only available to large centralized providers.
Our bet is that the DePIN project will eventually be able to provide a similar (or even better) level of service compared to the current centralized structure.
The benefits of decentralized networks are greater security, privacy, and accessibility. These networks are more resilient because they have no single point of failure or control, and can provide accessibility benefits to “last mile” users who may not be able to profitably scale their services as large centralized providers.
Therefore, an important goal of the DePIN project is to transform from a closed proprietary infrastructure controlled by centralized technology giants to an open ecosystem managed by cryptographic protocols and community collaboration.
DePIN uses
What are the characteristic features of DePIN network? There is no fixed answer, but generally speaking, DePIN network will include the following aspects:
1. Provide some specific physical or digital resources, such as storage space, computing power, 5G network, etc.
2. The physical hardware needed to provide these services, such as GPUs, wireless routers, or hotspot devices.
3. Incentivize network contributors through token rewards. If deployed properly, this mechanism can be a powerful means to promote early adoption of the network.
4. Suppliers who contribute unused or underutilized resources to the network.
5. Consumers who use the Internet to provide services.
Filecoin as a DePIN prototype
Filecoin is not just another storage solution, but a prototype of the broader vision of the DePIN movement. Its unique features are:
Global decentralization: Filecoin works with independent storage providers around the world without the restrictions of centralized servers. Providers contribute their storage capacity to a huge distributed network.
Token Incentives: The Filecoin network uses FIL tokens as its economic backbone. Providers can earn FIL by storing and retrieving data, and are also punished when problems occur. This creates a self-sustaining ecosystem where all participants have common incentives.
Open and accessible: Anyone can join the Filecoin network, whether as a storage provider, data client, or developer. This creates an open and inclusive environment for implementing the distributed model of the DePIN network.
Innovative thinking: The Filecoin community continues to push boundaries and develop new features and capabilities to enhance the network's capabilities and security. For example, the Filecoin Virtual Machine was launched in 2023, bringing smart contract programmability and EVM compatibility to the network.
Real-world impact: Ultimately, the DePIN network must have actual users to be valuable. On the Filecoin network, there are hundreds of institutions storing data, such as universities and research institutions, media assets, non-profit organizations, and leading Web3 projects such as Solana.
The Filecoin network also has the following unique advantages that can support other DePIN networks:
1. Retrieval/Content Delivery Network: Projects such as Filecoin Saturn and Filecoin Station provide a decentralized mechanism to quickly retrieve and distribute data stored on the Filecoin network with minimal latency.
2. Computing: Projects such as io.net allow individuals to rent out GPU capacity and cloud computing resources, while companies such as Expanso provide decentralized computing solutions for enterprises.
3. Video Infrastructure: Livepeer is an open video infrastructure network that can be used for live and on-demand streaming.
4. Sensors: WeatherXM is a community-driven weather network that rewards weather station owners and provides accurate weather services to individuals, businesses, and research organizations. Data collected by WeatherXM stations is stored on IPFS, allowing permissionless access.
The way forward
Nowadays, people are increasingly in need of a reliable decentralized infrastructure. As artificial intelligence develops faster and faster, the data it generates and the computing resources it occupies have exceeded the limits of the existing backbone of the Internet. Traditional storage models, computing software and hardware cannot meet current needs.
Decentralized storage networks like Filecoin will become an increasingly important layer of the Internet. As the Web3 community becomes more interested in this space, the use and development of these protocols will increase.
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