$FIDA is the native token of Bonfida, a Solana ecosystem project focused on decentralized identity (.sol domains) and developer tools.
Its utility historically included governance, staking, and fee payments, but the launch of a separate SNS token reduced $FIDA governance role.
The token has faced downward price pressure and technical weakness, partly due to exchange delisting risk and diluted utility.
Short-term volatility remains high, though occasional rebounds are triggered by Solana ecosystem rallies.
Long-term prospects depend on how Bonfida expands $FIDA use cases and integrates with broader Solana growth.