Thread by @Starboard_V

Our weekly @Filecoin Network Update: Growth all around! Daily Changes in Storage Capacity is at its highest this year, while ⬆️ in network activity brings Daily Active Deals to a new all-time high! 🚀🚀

1/ Daily Change in Storage Capacity on #Filecoin reached a yearly high of 126.58 PiB on 14 April 2022––its highest since June 2021! The network’s total storage has increased by 2.71% (0.43 EiB) since last month, bringing the total capacity to 16.27 EiB.

2/This growth can be attributed to the significant increase in the no. of active deals on the network, which has achieved an all-time high of 3mil deal counts! ~80% of these active deals belong to Filecoin Plus, which had an exponential increase in adoption since mid-Dec 2021.

3/ In the past week, the network added around 80,000 $FIL locked as Initial Pledges every day. Higher storage onboarding rates (led to more token pledges) helped digest more FIL token supply, as the weekly growth of circulating supply was lower by 1M FIL.

4/ In the short term, Protocol Circulating Supply is still highly affected by initial pledge release due to sector expirations. However, as shown in the graphs, FIL supply from scheduled expirations is gradually going down––

––and the sector extension rate is going up, which will further stabilize the growth speed of circulating supply.

5/ Filecoin’s increasing network activity has also led to growing Network and ProveCommit fees. Network fees and ProveCommit fees increased by 16.15% and 4.23% respectively over the past week.

6/ All network insights are extracted from Starboard’s Filecoin Network Health Dashboard. Check it out here: dashboard.starboard.ventures