FIDA crypto's volume soars over 1000%. Know its price prediction

November 04, 2021 09:32 PM AEDT | By Raza Naqvi

FIDA crypto's volume soars over 1000%. Know its price prediction — Image source: © Mbruxelle/Megapixl.com

Bonfida (FIDA) crypto: Key details

It is a decentralized exchange (non-custodial) and is powered by the blockchain technology Solana.

The exchange was built on the open-source trading protocol known as Serum, and Bonfida claims to provide a full suite of products that bridges the gap between the growing userbase on the Serum Decentralized Exchange and Solana.

FIDA Crypto price movements and prediction

As demand for decentralized finance (DeFi) services is rising, it could beat the traditional finance sector in the coming years and as a result, project's like Bonfida could grow rapidly.

Bonfida suite was established to develop the future of the DeFi services within the Solana ecosystem. In addition, FIDA is the native utility token of this platform, and it is different from other digital assets as it will have no large holders.

Also Read: BitUp soars over 800 million per cent in 7 days. Too good to be true?

Large holders cannot act as net sellers of this token as there is a limited percentage of the FIDA token in supply. FIDA token would govern 95 per cent of the net fees on decentralized protocol and the net fees can be used for burning and buying.

FIDA can also act as the governance token, and it would allow holders to vote on certain Bonfida parameters.

Bottom line

The total supply of FIDA crypto is 1 billion tokens and the circulating supply is 49.1 million FIDA tokens.

On November 3, 2021, FIDA crypto clocked an all-time high of US$ 18.77 per token and at the time of writing, the cryptocurrency had declined to US$ 9.83 apiece.

Although the cryptocurrency seems to be witnessing a bullish momentum, it remains volatile. If this momentum continues, the FIDA crypto could reach new highs or continue to trade above the eight-dollar mark.

Also Read: EverGrow crypto set to explode in 2022? Know price prediction

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.