Cryptocurrency investing ultimately boils down to betting on the future direction. Does this storage project have a chance to become the next dark horse in the upcoming cycle? Let’s analyze it from several angles.

**Technology**: Red Stuff encoding indeed reduces storage costs, and its programmability opens up application possibilities. There are innovative aspects. But being technologically advanced doesn’t guarantee market acceptance; the key is actual implementation progress. Currently, quarterly revenue is only $1,116, indicating the project is still in very early stages. Whether it can break the $10,000 revenue mark in the next year will be a crucial milestone.

**Funding and Capital**: With $140 million raised and institutional backing, resource reserves are ample. However, investors are a double-edged sword — they can be a safety net but also a source of selling pressure once the unlock period begins. Notably, the 350 million tokens held by investors will unlock in March this year, so the coming months require close monitoring of selling pressure trends.

**Ecosystem Development**: Over 70 partners are involved across AI, NFT, gaming, and social tracks, which is a decent coverage. Projects like Humanity and Talus, which are actively using real data, are more convincing than hollow memorandums of understanding. But whether the ecosystem can retain users and trigger network effects depends on future performance.

**Price Perspective**: At $0.15, with a market cap of $236 million and a fully diluted valuation of $750 million. Compared to Filecoin’s hundreds of billions in the past, there’s room for imagination. But don’t forget, the entire storage sector is cooling down now, unlike the frenzy of 2021 when everyone was all-in.

Overall, this is a high-risk, high-reward early-stage infrastructure project. It can be allocated as part of a long-term strategy, but full position is not recommended. The daily technical chart looks manageable; in the short term, the key is whether the $0.145 support can hold — if it does, hold on; if it breaks, consider reducing positions and observing.