Filecoin is running into its biggest supply change since launch, and the market is front-running it.
On Oct 15, three days out, the six-year vesting schedules for Protocol Labs and the Filecoin Foundation end. That removes roughly 67M FIL a year of scheduled issuance, cutting gross annual supply growth by about 75%, from ~89M to ~22M FIL. Not a halving, the already-vested supply still exists, but the daily print flow gets a lot quieter.
FIL is up ~9% to $1.21 on $35M Binance volume, and has basically doubled off the August lows. The honest read is that positioning is doing the heavy lifting here, not storage demand. $1.30 is the next real resistance and the level to watch.
Supply cuts don't guarantee anything. They just change the math every seller has to do.
$FIL
On Oct 15, three days out, the six-year vesting schedules for Protocol Labs and the Filecoin Foundation end. That removes roughly 67M FIL a year of scheduled issuance, cutting gross annual supply growth by about 75%, from ~89M to ~22M FIL. Not a halving, the already-vested supply still exists, but the daily print flow gets a lot quieter.
FIL is up ~9% to $1.21 on $35M Binance volume, and has basically doubled off the August lows. The honest read is that positioning is doing the heavy lifting here, not storage demand. $1.30 is the next real resistance and the level to watch.
Supply cuts don't guarantee anything. They just change the math every seller has to do.
$FIL