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Highlights
- FIDA has been quite volatile since its launch last December.
- FIDA’s price performance rallied 20% last Wednesday after Binance announced it would list Bonfida on its exchange.
- FIDA’s price hit its peak on September 11, 2021, at US$8.58 before taking a dive.
A new cryptocurrency built on the Solana network has made great gains in the past seven days, growing over 26%.
The price of FIDA, which is the native token of the Bonfida network, has rallied recently along with many other digital currencies, experiencing continued growth since August.
In fact, on August 1, FIDA was priced at US$1.90, with a market cap of US$85.55 million. Since then, the price of FIDA has shot to US$6.80 with a market cap of US$304.58 million. This represents an impressive price rise of more than 250% since August.
What is Bonfida?
Bonfida is a product suite launched in December 2020, on the popular Solana network.
The Solana network has had a rough month despite being one of the most popular altcoins of this year.
The Bonfida suite was launched with the objective of developing the future of decentralized finance (DeFi) within the Solana platform.
FIDA’s price rallied 20% last Wednesday after Binance announced it will list Bonfida on its exchange.
Source: © Morganphoont | Megapixl.com
What Does Bonfida Include?
1: Bonfida includes an on-chain perpetual swap, which is an agreement that allows counter parties to non-optionally trade an asset at any point in the future.
2: A Solana name service for auctioning and transacting readable Solana addresses and
3: Bonfida Bots allow users to automate trading strategies and do copy-trading on the Serum decentralised exchange (DEX). Serum also exists on the Solana platform and touts itself as permissionless, high-speed, and low-cost.
The FIDA Token
FIDA offers value accrual, staking rewards and fee discounts.
After being introduced to the market in December 2020 at approximately US$0.50, its price hit its peak on September 11, 2021, at US$8.58 before taking a dive but then led to the start of the rally since September 30 to where it currently sits at US$6.80.
It has a current circulating supply of 44,899,752.60 with a max supply of 1,000,000,000.
Where Can I But FIDA?
Although FIDA has been listed on a number of cryptocurrency exchanges, unfortunately, it can’t be purchased directly with fiat currency.
However, it can still easily be purchased by buying USDT from any fiat-to-crypto exchange and then transferring that to the exchange that offers to trade this coin. Binance is the best option for this.
Given Bonfida’s current bull run and its multitude of partnerships, including AKG Venture, Fisher8 and CMT Digital, FIDA looks like a good coin to hold onto in the near future.
