The global crypto market is seeing some stability returning from a recent slump. At 12:06 pm ET on Friday, it was up 0.70% to US$1.84 trillion, while the 24-hour volume fell 8% to US$87.28 billion. The Bonfida (FIDA) crypto was drawing attention, helped by the recovery in the market.
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What is Bonfida (FIDA) crypto?
Bonfida (FIDA) crypto, a decentralized non-custodial exchange, is powered by the Solana blockchain. The platform is developed by the Bonfida Foundation.
It focuses on creating a bridge to cover the gaps between Serum, Solana, and the user. Its flagship Serum GUI uses Solana Data analytics for operations.
Leading market makers use Bonfida’s API (Application Programming Interface). Solana’s blockchain aid Serum to get full on-chain order books and increase execution speed at a low cost.
In addition, the platform’s unique features enable services like offering an NFT exchange platform on the Solana interface. Bonfida’s governance token is FIDA, which provides holders with voting rights on future developmental projects of the protocol.
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Why is it gaining attention?
The Bonfida crypto has been in the limelight after its Solana Domain Name NFTs went live. The company said it had made some innovative changes to .sol domain names to strengthen its partnership with marketplaces and enhance the users’ reselling ability.
As of now, users can tokenize their domain names to operate them as non-fungible tokens (NFT). Bonfida said NFTs have a great advantage for listings on multiple secondary marketplaces.
The company has secured marketplaces for NFT .sol domain names on various platforms like FTX NFTs, Solanart, Hyperspace, Burnt Finance, etc.
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Source: *Data provided by CoinMarketCap.com
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Bottom line:
The FIDA token was priced at US$1.62 at 12:27 pm ET on March 18, down 1.91%, while its volume for the last 24 hours slumped 44.36% to US$6.32 million. It has a market cap of US$72.38 million, and its fully-diluted market cap is US$1.61 billion.
The token’s max supply is 1 billion, and its current circulating supply is over 44.72 million. It is available on exchanges like Binance, FTX, Gate.io, etc.
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