Filecoin Q3 status report: active transactions increased nearly 10 times year-on-year, storage fee protocol revenue fell 68%
Messari recently released a Filecoin Q3 2023 status report, with the following key points:
The Filecoin storage market continued to grow in Q3 2023, with active trading increasing by 45% month-on-month and nearly 10 times year-on-year. At the same time, due to a 10% decrease in storage capacity, storage utilization increased from nearly 8% in Q2 2023 to nearly 13% in Q3 2023.
By the end of Q3 2023, nearly 1,900 users had stored datasets on Filecoin, including 422 users who introduced large datasets (over 1,000 TiB), an increase of 25% month-on-month.
In Q3 2023, storage fee protocol revenue calculated in FIL decreased by 68% (73% in US dollars), consistent with the overall decrease in revenue from demand for distributed cloud storage space. The Filecoin Virtual Machine (FVM) release will introduce Ethereum-style smart contracts to Filecoin, promoting new use cases in areas such as liquidity staking, perpetual storage, and distributed computing. Net deposits and net borrowings continued to grow in Q3 2023.
Deploying the Uniswap contract on FVM may usher in a new stage of DeFi applications based on the Filecoin network.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Court prolongs Tornado Cash developer Pertsev’s pre-trial detention
Major Cryptocurrency Platform to Airdrop Tokens Gets French Crackdown – What Happens Now?
This is the first regulatory sanction for the platform, which has become especially popular after the US Presidential Elections.
Date Revealed for New Cryptocurrency Laws Reform in the UK
The UK is set to introduce some radical changes to crypto and stablecoin regulation in the new year.
Donald Trump’s Pick for US Treasury Secretary is Announced – Here Are His Cryptocurrency Views
US President-elect Donald Trump's choice for Treasury Secretary has finally been announced.