Bonfida Enhances Solana Blockchain Utility

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: Jun 07 2024

FIDA+2.439%

SOL+8.952%

Should l Buy FIDA?

Bonfida Enhances Solana Blockchain Utility:
- Bonfida, built for the Solana Blockchain, offers innovative solutions like the Solana Name Service.
- FIDA coin is crucial for user experience and governance within the Bonfida ecosystem.
- FIDA coins manage 95% of net fees on Bonfida and offer additional features through staking.
How to Buy Bonfida (FIDA) with TRY:
- Turkish investors can purchase FIDA on Binance TR using Turkish Lira (TRY).
- Account creation on Binance TR involves basic personal info and KYC verification.
- TL deposits can be made 24/7 through various banks for seamless transactions.
Why Choose Binance TR for FIDA Purchases:
- Binance TR, the Turkish arm of Binance, provides a secure platform for FIDA trading.
- Turkish users benefit from market-leading liquidity, advanced security, and robust trading services.

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Technical Analysis for FIDA

Technical Sentiment Analysis for Solana Name Service (FIDA). As of , Solana Name Service (FIDA) is exhibiting a Strong sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 0 indicators are flashing buy, while 4 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for FIDA stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, FIDA is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Solana Name Service (FIDA) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	0.0111	0.0136	0.0169	0.0194	0.0227	0.0252	0.0285
Fibonacci	0.0136	0.0158	0.0171	0.0194	0.0216	0.0229	0.0252

About FIDA

Bonfida is known as the top infrastructure developer on Solana. This accolade has been earned from their contributions to the ecosystem by providing services and products that allow for the wider ecosystem to flourish. Their contributions to the ecosystem include; (1) creating a new Serum Core engine, the Asset Agnostic Orderbook (AOB), (2) simplifying the way users transact with Solana Name Service and (3) the first perpetual swap on Solana, Audaces, to name a few. As a result of these, their developers are highly respected within the Solana ecosystem. Bonfida has a simple, yet realistic goal of providing products and services that will enhance the Solana blockchain for all its users.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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