Filecoin's Price and Market Cap Experience Significant Drop

Filecoin, a top DePIN project, has experienced a significant drop in price and market cap from its 2024 highs. With a Sharpe ratio of -2.95 indicating poor risk-adjusted returns, FIL may not be a strong short-term investment. There is a possibility of the price falling to $3.25 if bearish momentum persists, but buying pressure could potentially drive it up to $4.27.