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Filecoin Q3 status report: active transactions increased nearly 10 times year-on-year, storage fee protocol revenue fell 68%

CointimeCointime2023/10/27 10:36
By:Cointime

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.

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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.

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