Filecoin Sees Growth In Storage Transactions And Utilization In Q3 2024

According to PANews, a recent report by Messari highlights significant developments in Filecoin's performance during the third quarter of 2024. The report indicates a 16% quarter-over-quarter increase in new storage transactions, with storage utilization rising from 26% in the second quarter to nearly 30% by the end of the third quarter. However, storage capacity saw an 18% decline over the same period. By the end of the third quarter, over 2,000 users were storing datasets on Filecoin, with 518 users storing large datasets exceeding 1,000 TiB. Additionally, more than 4,500 independent contracts have been deployed on the Filecoin Virtual Machine (FVM), with DeFi net deposits in FVM surpassing 20 million FIL (approximately $84 million). These deposits are primarily used for collateral, liquidity staking, and decentralized exchanges (DEX). Filecoin is gradually evolving into a decentralized physical infrastructure network (DePIN), offering a decentralized storage market for enterprises and supporting computing and artificial intelligence applications. The third quarter also saw the release of the Filecoin Web Services (FWS) framework, which provides a verifiable service marketplace and expands data solutions through partnerships with AI sector collaborators.