Filecoin recently released its Q1 2024 report, providing an overview of its performance this year. The report revealed significant growth in the storage market, with active deals increasing by 9% and utilization rising from 18% to 23% compared to the previous quarter.

However, there was a 14% drop in storage capacity. Despite a 4.16% drop in FIL's trading price post-report, predictions suggest it may end the year between $5.70 and $8.20. Despite recent value fluctuations, Filecoin's DeFi ecosystem is steadily expanding, with the launch of Uniswap V3 and Pyth in Q1 contributing to a doubling of GLIF deposits.

The FVM has seen a 26% increase in deployed contracts and surpassed $600 million in TVL in Q1. Looking ahead, Filecoin aims to increase enterprise adoption and enhance its computing capabilities through DePIN partnerships.