First Digital USD is a cryptocurrency-stable coin and it is pegged to the United States Dollar. The coin was launched by First Digital Labs, which is a company that has its base in Hong Kong.
The coin made its debut on June 1, 2023, and it was initially deployed on the BNB Chain and Ethereum networks the stability of the coin is supported by the adequate cash reserves and investments made in the US treasuries.
In an official statement released by Binance in September 2023, they discontinued their support for the native stablecoin Binance USD which made users transition to First Digital USD.
The latest reports and statistics from February 2024 show that the coin has experienced a 51% increase in its trading volume and reached $122 billion across centralized exchanges.
Through this article, we will be looking into price predictions of the coin and also details of the coin to decide whether it is a good investment or not/. So, to know more, keep reading till the end!
Price Predictions for First Digital USD (FDUSD) for 2024, 2025 and 2030
The price of the coin is calculated by tracking different kinds of indicators and signals. Getting to know the support and resistance levels of First Digital USD is very important as it gives the traders a proper understanding of the market’s supply and demand, and also the reversal of trends.
The Relative Strength Index(RSI) – The relative strength index measures the price moves of the coin and helps to understand whether it is overpriced or underpriced by analyzing the momentum that it has in the market. It also helps to understand whether or not to accumulate or sell an asset.
At the time of writing, the RSI is between 30 – 70 neutral zone which means that the price is trending neutral.
Moving Averages – This is another important tool that will help the traders to get a bigger picture of what’s happening in the charts and it is done by calculating the average closing price over a set of periods.
The short and long-term moving averages play a crucial role in determining the direction of the trend too. On a 1-day time frame at the time of writing, FDUSD is trending bearish with a slop in the 50-day moving average and above the current First Digital USD price.
The price prediction of First Digital USD based on the available reports and signs are as follows;
| Year | Average Price |
|---|---|
| 2024 | $0.997664 |
| 2025 | $1.047548 |
| 2030 | $1.336966 |
First Digital USD – Where to buy it?
- First Digital USD is not currently available on Coinbase’s centralized exchange. But you can still buy it from Coinbase wallet and here are the six simple steps that you need to follow;
- Download Coinbase Wallet – Coinbase Wallet is available both as a browser extension and also as a mobile application. You can easily download the application and use it on your device.
- Choosing the Username – To access the account, you will need to have a username name and this username will help the Coinbase Wallet users to send you money easily.
- Keep your recovery phrase safe – While creating a new self-custody wallet, you will get a recovery phrase that consists of 12 random words. Make sure not to share it with anyone as it will provide them access to your wallet.
- Have an idea regarding Ethereum Network Fees – The fees that you are required to pay can vary according to the kind of transaction. So, be planned to meet this expense.
- Buy and transfer ETH to Coinbase Wallet – To buy Ethereum, you will need a Coinbase account. Different instructions to do so are available on the website of the platform.
- Use ETH to buy First Digital USD – After adding ETH to the Coinbase Wallet, you can swab your ETH for FDUSD. It can be done using both, the application or browser extension.
Is First Digital USD a good investment?
One of the striking features of the coin is that it has a good potential ROIU. This argument is supported by the fact that the volatility itself provides opportunities for a multitude of profits.
As such volatility is often regarded as a double-edged sword, it is suitable if you are an investor with high-risk tolerance and are in a healthy financial position.
Conclusion
Going by the different signs and trends of First Digital USD, growth is expected in the coming years for the coin and it is regarded as a good choice for investors who are financially well and ready to take on risks.
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