Bonfida is one of the top gainers in the Solana ecosystem and in the general market on February 10. FIDA, its native token, has added almost 60% to its value today. The cryptocurrency recently partnered with Burnt Finance to solve verification issues and is listed on many top exchanges.
This article shares what FIDA is, explains if it’s a valuable investment, and gives details on whether you should buy it?
What is FIDA?
According to Bonfida’s whitepaper, it is a full product suite that bridges the gap between Serum, Solana and the user. It is the flagship Serum GUI, which brings the first of their kind Solana data analytics to the field.
Bonfida’s API is used by some of the largest market makers in the space and has seen a growth of requests of 25% week over week.
Bonfida features a decentralized naming service built on Solana, the first perpetual swaps on Solana, decentralized and permission less buy and burn, and on-chain encrypted messaging app built on Solana.
10% of the buy and burn goes to stakers. Users can build trading strategies on Serum with native TradingView integration.
95% of the net fees on Bonfida will be governed by the FIDA token and can be used for buy and burns. FIDA staking will grant its holders exclusive API endpoints and lower latency, access to rare Solible markets, and advanced analytics.
Should I buy it today?
Most analysts are bullish on FIDA, but in planning any investment, take your own risk tolerance into account. With the exception of the preceding, take all investment advice with a grain of salt.
FIDA price prediction
Wallet Investor predicts the Bonfida price will go up from $3.58 (its current level) to $7.56 in one year. The one-year earning potential thus comes to 111%. In five years (2027), 1 FIDA will trade for $28.55.
Check out our top Cryptocurrency price page for the most up to date movements.
FIDA on social media
Top Gainers in @Solana Ecosystem Last 24H$STEP @stepfinance_ $RACEFI @racefi_io $AUDIO @AudiusProject $FIDA @bonfida $PRQ @parsiq_net $REN @renprotocol $DFL @DeFi_Land $LIKE @only1nft $CRP @CropperFinance $VLX @VelasBlockchain #Solana $SOL pic.twitter.com/zodUNSC5Aq
— Solana Daily (@solana_daily) February 10, 2022