Filecoin Supply Cut Looms: Can $0.90 Hold or Will Price Crack?
Filecoin (FIL) has been on a tear lately, surging 8.65% to $0.87 in a single day. However, the picture under the hood is more complicated than it seems.
The token's price is pressing into a cluster of moving averages that have acted as resistance all year, and the candle's upper wick near the $0.88-$0.90 zone suggests sellers are already present to meet it.
The real test for FIL arrives on October 15, when a 75% supply cut hits due to the end of the six-year linear vesting schedule shared by Protocol Labs and the Filecoin Foundation.
This represents a 183,000 FIL per day in new supply - gone overnight. According to analysis, this is equivalent to a 75% contraction in gross annual issuance, dropping total new supply from approximately 88 million tokens per year to around 22 million.