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Highlights
- Formerly known as Zcoin, Firo is a cryptocurrency focused on becoming anonymous online cash.
- Firo is among the lesser-known crypto projects and its total supply is 12.4 million.
- FIRO is available for trading on crypto exchanges like Binance and DigiFinex.
The price of Firo (FIRO) crypto was up by 200 per cent, trading at US$ 4.47 per token at the time of writing. Notably, the 24-hour volume skyrocketed over 4,000 per cent to US$ 291.3 million.
Formerly known as Zcoin, Firo is a cryptocurrency focused on becoming anonymous online cash. It developed the Lelantus privacy system, which enables users to burn their existing coins and exchange them for completely fresh ones with no previous transaction history.
Before Lelantus, Firo was the first digital currency to create and release a working implementation of the Zerocoin protocol, which became one of the most widely used privacy protocols. After the Zerocoin protocol's cryptographic flaws were discovered in 2019, Sigma and then Lelantus took its place.
Why is FIRO crypto rising?
On July 12, Firo announced on Twitter that it was crypto enthusiasts to learn more about investing. Hence, the cryptocurrency protocol released research papers to help users understand it.
Meanwhile, on Thursday, Firo asked crypto enthusiasts to help grow its ecosystem or adoption by applying to the Firo Community Fund, which is run by a committee elected by the community members.
FIRO crypto could be gaining traction due to these developments. Also, the overall growth in the market might have boosted the digital currency's price.
Bottom line
A sudden price rise in any cryptocurrency shouldn't be the only reason to invest. The crypto market is infamous for its volatility, and the price keeps fluctuating.
Also, Firo is among the lesser-known crypto projects. Hence, investors must exercise caution if they are interested in the cryptocurrency.
The total supply of FIRO crypto is 12.4 million, and it is available for trading on crypto exchanges like Binance and DigiFinex.
Risk Disclosure: Trading in cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory, or political events. The laws that apply to crypto products (and how a particular crypto product is regulated) may change. Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading in the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Kalkine Media cannot and does not represent or guarantee that any of the information/data available here is accurate, reliable, current, complete or appropriate for your needs. Kalkine Media will not accept liability for any loss or damage as a result of your trading or your reliance on the information shared on this website.
