The head of PBOC thinks that digital yuan has an uphill battle to take on ALipay and Wechat pay as the retail investors are flocking to buy Filecoin on exchanges which are mainly Chinese user bases.
FIl being the highly traded token on Huobi, OKex and Gate on Thursday, Filecoin, the distributed storage network project is now the talk of the town. Huobi, OKex and Gate represent a large part of the Tier One trading volume for major pairs and have a predominantly Chinese user base. A 7 day increase of 170% was reached by Huobi trading of FIL which is three times that of BTC.
The interest of large investors, such as Fenbushi capital, SNZ Capital and Neo’s fund have been captured by the strong success of Filecoin.
However, these three were part of a group that backed the $23 million Filecoin Ecosystem Fund, announced on March 25. The Filecoin Ecosystem Fund is intended to support projects and help development on the network. It could also give backers early access to new projects, which is a lucrative model for VCs in an increasingly crowded investment space. It remains to be seen which of these two consequences are a bigger priority for the funds involved.