There's a question I've been wanting to discuss with everyone—why do many people, when mentioning FIL, only remember its past highlights? During the 2021 frenzy, the price soared to over $237, then experienced a long decline, dropping to around $1.3. Anyone who has gone through this understands that feeling.

But what has FIL been doing these years? Honestly, this project has been quite active. From the initial ICO that raised $200 million in half an hour, to later on, Chain of Cloud (FOC) connecting "storage-computation-retrieval," and after the FVM virtual machine was opened, it became compatible with thousands of smart contracts—these are real technological iterations, not just empty talk. Currently, it also has real projects in AI training data storage and enterprise-level data archiving.

So, looking at FIL now, it’s no longer appropriate to define it merely as a "mining coin." Its positioning is clearly moving toward developing the infrastructure layer of Web3.

Looking ahead, the halving window in 2026 is approaching. Inflation expectations will likely decrease significantly, and technological promises are continuously being fulfilled. Of course, there are practical challenges along the way, such as miners cashing out and application demand climbing. But from a long-term perspective, as long as these infrastructure projects can run smoothly and have practical use cases, there’s still a great chance for a turnaround. Some things are worth waiting for.