FIL's Rocky Road: Network Shrinks as 776 Million Tokens Hit the Market

I've been watching FIL's metrics closely, and March 26th's data doesn't paint a pretty picture. The network's hemorrhaging computing power - down 60P in just 24 hours! Compare that to the all-time daily growth record of 111P, and you see the direction we're headed.

The bleeding doesn't stop there. Pledges dropped by 150,000 FIL while inflation pumped another 450,000 tokens into circulation. Sure, 7,000 got destroyed, but that's a drop in the ocean compared to the 776 million total tokens released so far.

What truly worries me is the continuous decline in real-world data storage. DC data fell by 2.8P, and the original computing power plummeted by 19.9P. This project was supposed to revolutionize decentralized storage, but these numbers tell a different story.

The FVM ecosystem shows some resilience with 3,353 deployed smart contracts and about 65 million FIL locked, but that's down 790,000 from previous highs. I can't help but wonder if this is enough to save the token from its persistent downward trend.

The market seems to agree with my pessimism. Just check the comments - one user bluntly stated "there's no hope for the price with so much new liquidity every day," while another predicts delisting "next month." Harsh, but are they wrong?

While the protocol touts impressive stats like 3.03 million accounts and 2,904 storage nodes, the fundamental economics feel increasingly unsustainable. Daily rewards have dropped to 8.85 FIL per block, and single T income sits at a measly 0.0048 FIL - literally the lowest it's ever been.

The FVM ecosystem's 86 projects across various categories like DeFi, Infrastructure, and DEXes might look good on paper, but can they generate enough real demand to counterbalance the massive token inflation?

I've watched Filecoin since its mainnet launch in October 2020, and the gap between vision and reality keeps widening. With miners reducing pledges and computing power simultaneously dropping, something's gotta give.