Wednesday, February 1, 2023
    HomeMarketIs it safe to buy Bonfida (FIDA) today?

    Is it safe to buy Bonfida (FIDA) today?


    Bonfida worth rose barely as buyers guess on a rebound of Solana’s ecosystem. FIDA rose to a excessive of $0.45, the very best level since November 28. It stays a couple of factors beneath the November 21 excessive of $0.98.

    Bonfida turns 2 amid a cloud of uncertainty

    Bonfida is a blockchain mission in Solana’s ecosystem. It gives options just like the Solana Identify Service (SNS) and Jaber. Solana Identify Service is just like Ethereum Identify Service. It makes it potential for customers to create a human-readable by changing a decentralized tackle with a website title of your alternative.

    Bonfida additionally runs Jabber, a cellular software for decentralized and encrypted messaging on Solana. 

    Most significantly, Bonfida labored with Serum, some of the essential Decentralized Finance (DeFi) platforms in Solana. Till its collapse in November, Serum had thousands and thousands of {dollars} in complete worth locked (TVL).

    Serum was created by a workforce that included FTX. And in contrast to different decentralized autonomous organizations (DAO), Serum’s non-public key was not held by the DAO. As an alternative, it was held by FTX, which isn’t preferrred, following the latest news. Due to this fact, as FTX collapsed, Serum holders exited, as I wrote on this article.

    Now, the Serum group is working to rebuild its platform. The brand new platform is called OpenBook and has a TVL of about $2 million. 

    Bonfida turned two years this week amid considerations about its future. A key shining a part of Bonfida is that the amount of domains offered has been rising up to now few days. This explains why FIDA went parabolic this week.

    The subsequent key catalyst for the FIDA worth would be the upcoming rate of interest resolution by the Federal Reserve. Economists consider that the Fed will proceed mountaineering rates of interest albeit at a slower tempo.

    Bonfida worth prediction

    FIDAUSD chart by TradingView

    The every day chart exhibits that the FIDA worth remained in a consolidation part this week. Its every day buying and selling quantity has dropped sharply. On the identical time, the coin is hovering on the 25-day and 50-day transferring averages whereas the Relative Energy Index (RSI) moved beneath the impartial level. 

    The worth can also be barely above the essential resistance degree at $0.27, the bottom level in June this yr. Due to this fact, I believe that the token will present some volatility after the Fed resolution on Wednesday. A bullish breakout will see it rise to about $0.58. A drop beneath the help at $0.27 will sign that bears have prevailed.

    Methods to purchase Bonfida


    Binance is without doubt one of the largest cryptocurrency exchanges on this planet. It’s higher suited to extra skilled buyers and it gives numerous cryptocurrencies to select from, at over 600.

    Binance can also be recognized for having low buying and selling charges and a a number of of buying and selling choices that its customers can profit from, resembling; peer-to-peer buying and selling, margin buying and selling and spot buying and selling.

    Buy FIDA with Binance today


    Swapzone is a crypto alternate aggregator that operates as a gateway between the cryptocurrency group and alternate companies. Swapzone goals to supply a handy interface, protected person move, and crystal-clear knowledge for customers to search out the very best alternate charges among the many entire cryptocurrency market.

    Buy FIDA with Swapzone today

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