Use the 200-day moving average to judge the major trend: if the price is above the moving average = a bullish trend; below it = a bearish trend. Trading in the direction of the major trend naturally gives a higher win rate. Currently, BTC is trading below the 200-day moving average, with a bearish bias in the medium term.
💡 Current BTC $63,083, 24h +0.3%. Understanding these basic concepts will definitely help your trading.
🔥 FIDA’s 99% plunge—Is there still hope? The life-or-death moment for Solana name-service leader Bonfida
Brothers, today we’ll talk about a project that was once a star but is now in trouble—Bonfida (FIDA).
You may have seen .sol domain names in the Solana ecosystem—that’s what they do. But if you still hold FIDA, this is a must-read.
📌 What is FIDA?
Bonfida originally built the Serum DEX trading interface, and later pivoted to Solana Name Service (SNS)—a domain service on Solana. Think of it like this: just as ENS is to Ethereum, SNS is Solana’s “blockchain yellow pages.” You don’t need to remember a bunch of gibberish addresses—just send to “zhangsan.sol.”
The Brave browser, Hashmail, and Wormhole all integrate with SNS, so the infrastructure credentials are solid.
👥 Team background
Founder David Ratiney: • Worked at FTX • Previously built financial systems at Goldman Sachs and JPMorgan • Founded Bonfida in 2020, raising a $4.5M seed round
Investors: CMS Holdings, Three Arrows Capital (now bankrupt), Spartan Group, etc.
⚠️ Credibility: The team’s technical capabilities are top-tier in the Solana ecosystem, but the FTX/3AC connection is a sensitive point. Overall there are no signs of a rug pull, and they’re still delivering.
🚨 Biggest downside: FIDA was abandoned by the official team
In July 2024, it was rebranded as Solana Name Service (SNS).
In May 2025, a new token $SNS was issued, directly replacing FIDA’s governance power. FIDA is left with only a small 5% discount feature.
The team’s own words: “$FIDA 的代幣經濟學不可持續。”
The new SNS token allocates 40% via airdrop to .sol holders; FIDA holders are not in the priority list. This is the core issue—FIDA was effectively “abandoned” by its own team.
📊 Live price & volume (Binance contracts, 2026.6.22)
✅ Positives: • SNS domains have real demand, with over 1M users • Integrations like Brave and Hashmail expand use cases • Indirectly benefits from Solana ecosystem recovery (2025 Q3 institutional inflows of $1.72B) • Fully circulating supply—no unlock-induced sell pressure
❌ Negatives: • FIDA was abandoned by the official team; governance shifted to SNS • The tokenomics were certified by the team as “unsustainable” • Huge bagholder positions from the high-price era • Volume shrinking, with funding rate staying negative
💡 Conclusion: FIDA is a short-term “zombie token”—the project is still alive (SNS domains keep running), but the coin is dead (FIDA is replaced by the new token).
Short term: support around $0.021, but there isn’t enough momentum. Long term: lack of a value-capture mechanism.
The only potential explosion point: an SNS launch of a FIDA → SNS migration/conversion plan (none currently).
📢 Action suggestion: Watch and wait. Don’t blindly bottom-fish just because it’s cheap near $0.02. If you’re bullish on Solana’s domain-service track, follow the new SNS token path.
Risks: ⬛⬛⬛⬛⬛⬛ Very high—not that the project is going to go to zero, but that the token value is being diluted.
Choose projects that generate real income, buy when they are undervalued, and hold long-term. In the crypto market, changes are fast—so you need to track dynamically and review periodically.
💡 Current BTC $63,819, 24h +0.3%. Understanding these basics will definitely help your trading.
Per-trade loss should not exceed 2% of total funds. Position size = (total funds × 2%) ÷ (entry price − stop loss price). Take profit in batches—never turn a winning trade into a losing trade.
💡 Current BTC $63,945, 24h +0.6%. Understanding these basic concepts will definitely help your trading.