Project Safety Score: 44%
Updated 9 minutes agoFilecoin is a decentralized storage network that enables participants worldwide to serve as storage providers. It operates by separating data storage from additional services, thus allowing storage to function similarly to a commodity or utility.
The network facilitates a market-driven pricing model for storage, influenced by supply and demand rather than corporate pricing strategies. Miners on the Filecoin network are motivated to compete based on factors such as reliability and price.
Cryptocurrency carries risk. Every project listed on this site, regardless of its score, operates in a volatile and largely unregulated market. Tokens can lose most or all of their value. A high score reflects lower structural risk based on the data we can measure. It does not mean a project is safe, that the price will hold, or that losses are unlikely. Always research independently and never commit money you cannot afford to lose.
Track record score 66 out of 100.
Filecoin has been operational for over 6 years and has shown some proficiency with a relatively strong track record. It has experienced one regulatory action and one historical incident, which are relatively low in frequency. However, there are some concerns, as indicated by additional red flags raised in research, resulting in a moderate score.
Economic design score 40 out of 100.
The economic design of Filecoin presents some challenges, particularly due to the absence of a hard supply cap, which could lead to potential inflation. Additionally, only 40% of the total supply is currently in circulation, raising concerns about liquidity and value stability as the project progresses.
Developer health score 0 out of 100.
Filecoin's developer health is severely lacking, with no GitHub stars, forks, or recent commits. This raises significant concerns about the project's ongoing development and community engagement, as there appear to be no contributions in the last 4 weeks and no active contributors.
Network security score 63 out of 100.
Filecoin's network security score is decent, reflecting a moderate market cap of approximately $718 million and an age of 6.3 years. While there has been one historical incident recorded, the overall economic security is somewhat undermined by the project's relatively low market cap, which could indicate vulnerability.
Social behavioral score 43 out of 100.
The social behavioral score indicates some mixed sentiments around Filecoin. While there is a sentiment of 67% positive versus 33% negative, the lack of community engagement data and presence on social platforms limits the ability to assess public perception comprehensively. Additionally, the project faces concerns such as scam allegations and regulatory actions.
Adoption liquidity score 52 out of 100.
Filecoin shows a moderate level of adoption liquidity, with a daily trading volume of around $58.9 million and a strong presence on centralized exchanges, featuring 65 listings. However, the low market cap suggests that while the project is accessible, its actual liquidity may be constrained, impacting investor confidence.
Investing in Filecoin carries inherent crypto risks, especially given its low developer activity and concerns related to economic design and regulatory scrutiny. These factors may lead to volatility and uncertainty, emphasizing the need for cautious decision-making in investments within this asset.
-
Prior: Protocol LabsFounder and CEO of Protocol Labs, the company behind Filecoin.
-
0.8
Filecoin's largest firm, Shikongyun, was investigated for fraud and pyramid schemes in China.CoinGape · source ↗
-
SEC 2024-09-15Filed a lawsuit against Binance, naming Filecoin (FIL) as an unregistered security. ↗
-
pyramid scheme 2023-11-01 · $50000000Chinese authorities dismantled a Shenzhen-based operation that lured thousands of retail investors with fabricated promises of 20-50% monthly yields from FIL mining hardware and staking, resulting in estimated losses of $10-50 million. ↗
-
CoinGape · 2022-05-25
- ✓Strong market liquidity with a 24-hour trading volume of approximately $67 million.
- ✓Led by a reputable team with a documented professional background.
- ✗Project has a history of hacks or exploits
- ✗No recent code commits
- ✗No hard cap on total token supply
- ✗Regulatory action has been taken against this project
- ✗Public scam allegations have been raised
- ✗Less than 50% of supply is circulating
- ✗No hard supply cap, potential for inflation.
- ✗Only 39% of total supply in circulation, 61% remains locked or reserved.
Price Chart - Filecoin
Filecoin Exchanges
Top 20 by trust scoreTechnical Analysis
Buy / Sell signals
