Firo, a privacy-focused cryptocurrency and utilizing zero-knowledge proof technology, allows users to destroy coins and redeem them later for brand new ones with no transaction history.
It uses a halving system similar to Bitcoin with block rewards halving every four years.
Launched in September 2016 by Poramin Insom and Roger Ver.
Uniquely, Firo serves as a digital currency that allows untraceable private transactions, as well as offering consumers freedom from large financial institutions.
Firo once received the FAT 2020 blockchain award for the most popular blockchain project in the Community.
Examining the current movement chart of the FIRO/USDT price,
The price movement can be seen to see a consistent increase after being listed on the binance platform on January 29, 2021.
Following that, Firo managed to produce over 500% jumps until May 7 by recording the latest all -time high (ATH) level reaching the price level of $ 25.3.
From a technical point of view, the price movement is now seen moving weakly, declining to re -test the RBS zone (resistance become support) around $ 4.6.
As for the next expectation, if the price movement remains a bearish trend, the price movement will make a drastic decline and test the support zone around $ 4.3 which is the next concern of investors.
However, if the FIRO price returns to show an uptrend, the SBR (support become resistance) zone around $ 4.8 will be tested first before making a higher increase.
At the time of writing, FIRO/USDT is trading at a price of around $ 4.5 down over 3% in the last 24 hours. Coins are currently ranked 371st in the crypto market.
