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ChainCatcher News, according to the Filecoin 2025 Q3 Status Report released by Messari, Filecoin's network utilization in the third quarter rose to 36%, while total capacity decreased to 3.0 EiB. Network fees increased by 14% quarter-on-quarter to approximately $793,000, with penalties accounting for about 99.5% of the total. The v27 "Golden Week" upgrade removed the old sector methods, making both base and batch fees nearly zero. Active storage volume slightly decreased by 1% to 1,110 PiB, and the average daily new transaction volume dropped by 19%. The number of real datasets launched increased to 2,491, of which 925 exceeded 1,000 TiB. FVM token activity, measured in FIL, remained basically stable; DeFi TVL fell by 8.4% to about $27 million; USDFC circulation dropped by 8.5% to about $275,000. The Filecoin Foundation and GSR Foundation are advancing cooperation in cultural and scientific data storage. In addition, according to an official Filecoin announcement, Filecoin Onchain Cloud will be officially launched at 0:00 on November 19 (UTC+8), with a live broadcast on YouTube. The platform aims to build a decentralized, developer-owned cloud infrastructure covering modules such as storage, computing, retrieval, and access control, serving the new era of data, AI, and applications.

ChainCatcher news, Real Vision co-founder and CEO Raoul Pal posted that the Federal Reserve is very likely to be forced to "fix the pipes" this week to prevent a liquidity crisis at the end of the month or year. Crypto now resembles a squeezed financing tool, with prices reflecting the discounts caused by burst pipes; U.S. stocks are temporarily supported by buybacks and year-end ranking battles, but if the problem is not resolved immediately, the script of 2018/19 could repeat at any time. The deeper battlefield is at the Treasury: the Treasury now hopes to control liquidity through banks (increasing lending benefits ordinary people), rather than relying on the Federal Reserve's quantitative easing policy. This allows fiscal policy and monetary policy to remain aligned under the key goal of stimulating ordinary people, while also enabling Wall Street to benefit from currency depreciation, thereby increasing collateral value. The benefits of quantitative easing do not trickle down to ordinary people. Liquidity management has now become a political game, rather than a monetary policy game. Raoul Pal concluded that U.S. policymakers will first fix the pipes, then open the floodgates; asset inflation is only delayed, not absent.