Why do brothers always ask about the token that no one else cares about? It seems like someone is always asking about this coin, $FIL !
From a star coin to reality, when FIL first came out, almost everyone in the circle knew it — decentralized storage, IPFS ecosystem, the future irreplaceable storage network.
At the beginning, big players flocked in, mainly buying low, and the hype atmosphere was strong.
Even the aunties on the bus had to keep an eye on the coin price, getting excited with every small movement; at that time, the group was shouting every day to "hold on and not move".
I have to say that FIL back then had a perfect story: amazing technology, explosive concepts, and everyone felt they could make money easily.
The first major rise of FIL relied more on stories and hype for support. On-chain activity was average, but people were chasing not actual usage, but "future potential". It was a roller coaster: it would spike up, then someone would cut their losses when it dropped. When official news came out, miners entered, and the community exploded. At that time, FIL leveraged concepts and hype to move the market, with retail investors chasing it enthusiastically.
Slowly, problems began to surface:
On-chain activity was insufficient: very few projects were actually using FIL for storage.
Gradually, the main players only bought low without driving the price up, clearly waiting to see;
There are now a number of trapped positions, and at every price level, slight increases lead to capital flight!
The once glamorous star coin's halo began to fade, and the narrative couldn't support reality.
Currently, FIL is quite garbage:
Main players: high lock-up, low activity, with no intention of pushing the price;
Retail investors: chasing rises and cutting losses, completely relying on stories to hold the scene;
Narrative: still boasting about the future of decentralized storage, but the landing and actual use cases are far from the promotion;
Total supply: 204 million FIL is basically mined out, rewards are slowly distributed, low liquidity, and prices can't be pushed up.
Once a shining FIL, now relies more on concepts to maintain appearances, while reality slaps it countless times.
From star coin to being ignored
The hype propped up by the narrative is getting thinner;
Big players have turned from enthusiasm to caution;
Retail investors have shifted from following trends to being conflicted;
Prices have gone from being hyped to being unable to move.
In fact, looking at it now, it seems to be at the bottom range, but if it were me, I definitely wouldn't choose it; I think there are too many better options than it. It's highly likely that it will just follow the market's rise with little independent price action!
