## Storage empowerment is a foregone conclusion, and the cycle turning point for FIL is right in front of us

This time, we need to seriously discuss a target that the market has severely underestimated—Filecoin (FIL). While many are still complaining that the storage track isn't sexy enough, they fail to realize that the true winners have always been hiding in the most inconspicuous places.

**The Subtle Shift in Fundamentals**

Let's first look at the data on hand. Currently, FIL has over 1,729,900 addresses holding tokens, which is no longer a game for a small circle but a massive market consensus. The circulating supply is 726 million tokens, with a market cap of $927 million. But what is hidden behind these numbers?

The staking mechanism locks in chips daily, and the burning mechanism continues to tighten supply. As the real circulating tokens decrease and the number of holders expands, this is exactly the stage that big capital loves—scarcity is automatically generated.

**Substantial Changes After Miner淘汰**

Remember the most criticized issues of FIL in its early years? Uncontrolled inflation, false storage, miner flooding, and inflated prices. Almost all these pain points have been improved this year. After the wave of miners退出, only nodes with real business support remain. Production is steadily declining, meaning the cost of each new coin is rising.

Grayscale quietly increased its holdings to 13.4%, which is not random operation but a signal of institutional-level布局. What they can see, we should reflect on.

**The Real Demand Window in 2026**

Don't be fooled by the saying "2026 is the year of nodes." There is a solid industry logic behind it. The explosion of AI computing power is a certainty, but the problem is—beyond computing power, storage is also needed. And it’s大量的存储.

Hard drive manufacturers have already started raising prices, and capacity for 2026 has been fully booked. When AI training and inference truly爆发对存储的需求, FIL, as a decentralized storage network, will naturally become the channel to carry this demand.

**The Strange Dislocation Between Price and Fundamentals**

The current price trend seems pessimistic, but from another perspective, this is exactly the操作节奏 that institutions love. The initial rise was提前潜伏, sideways consolidation was洗散户 and消化恐慌筹码, and all of this—at its core—is setting a price anchor for future real客户的入场.

FIL is now priced at $1.27. Do you think this is an opportunity or a trap?

**Supply Turning Point in 11 Months**

Looking ahead 11 months, FIL's daily产量 will be cut in half—only about 60,000 new tokens per day. Reconsider this产量数据 at the current price, and think about the price zone below $2. It’s hard to believe this is a "garbage price." Emotions often blind us, causing us to miss the real机会.

**Next Year’s Liquidity Environment**

On the macro level, the major central banks' easing cycles are not over. Against this backdrop, those assets that have been squeezed of泡沫, supported by real需求, and with fundamentals reversing, will naturally be re-priced by the market.

FIL has already experienced痛苦, and what remains is waiting for the market to认可 this转变.

**Think About the Price**

Whether the current price range is worth布局 depends on each person's认知. But at the very least, it shouldn't be ignored.