Messari Releases Filecoin Q3 Status Report: 16% YoY Growth in New Storage Transactions, Storage Utilization Increases to Nearly 30%

Filecoin saw a 16% YoY increase in new storage transactions in the third quarter of 2024, with storage utilization increasing from 26% in the second quarter to nearly 30%, while storage capacity declined 18% YoY, Messari reported. By the end of the third quarter, more than 2,000 users had stored datasets on Filecoin, with 518 users storing large datasets of more than 1,000 TiB.

Additionally, over 4,500 standalone contracts have been deployed on Filecoin Virtual Machines (FVMs), and net DeFi deposits in FVMs exceeded 20 million FILs (approximately $84 million), primarily for guarantees, liquidity pledges, and DEX.Filecoin is evolving into a Decentralized Physical Infrastructure Network (DePIN), providing enterprises with a decentralized storage marketplaces and support for compute and artificial intelligence applications. The third quarter also saw the release of the Filecoin Web Services (FWS) framework, which provides a verifiable marketplace for services and extends data solutions through relationships with partners in AI.