Filecoin Price Prediction: How Much Will FIL be Worth in the Future?

As a popular project in the current mining market, Filecoin is favored by many investors. So how much potential does its token FIL have?

The potential of FIL mainly depends on the share of the storage market in the future. According to the forecast of the global data storage market scale released by MarketsandMarkets, the world’s second-largest market research institution, by 2024, the global data storage market will reach $102.2 billion; and the compound annual growth rate during the forecast period (2019-2024) will be 12.48%. In the digital economy, data storage is one of the most popular application scenarios.

Of course, it is impossible for Filecoin to take over the position of traditional storage providers from the beginning. If calculated with a market share of 40%, the storage market size of Filecoin will reach 40.8 billion US dollars in 2024. According to Filecoin’s economic model, the total issued amount of FIL is 2 billion, but not all issued FILs can be circulated in the market, some have not been produced, and a large part will be held by crypto investors. If the circulation amount is 20% of the total issued amount, it will be about 400 million, which means each FIL is worth $102.

We can further imagine that with the advent of the 5G, Web 3.0, and the Metaverse, people’s demand for data storage will increase sharply, and the scale of the storage market is expected to reach trillions of dollars. At that time, as long as Filecoin takes 70% of the market share, and the circulation amount reaches 1 billion, then each FIL will also reach about $700. If the market share is more and the circulation is less, it will not be difficult for FIL’s price to exceed $1,000.

In addition, once Filecoin comes to its stable period, it will reveal its huge potential in commercial data storage, and the market will re-evaluate Filecoin, which may increase the commercial value of Filecoin and the price of FIL.

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