Frax (FRAX) Tops 24 Hour Volume of $2.96 Million

Frax (FRAX) traded 0.1% higher against the U.S. dollar during the 24 hour period ending at 19:00 PM ET on September 14th. One Frax token can currently be purchased for about $1.00 or 0.00001662 BTC on major cryptocurrency exchanges. Frax has a market capitalization of $648.32 million and approximately $2.96 million worth of Frax was traded on exchanges in the last 24 hours. Over the last week, Frax has traded up 0.1% against the U.S. dollar.

Here is how similar cryptocurrencies have performed over the last 24 hours:

• Aidi Finance (BSC) (AIDI) traded 2.2% lower against the dollar and now trades at $0.0000 or 0.00000000 BTC.
• Zoo Token (ZOOT) traded 2.2% lower against the dollar and now trades at $0.0652 or 0.00000239 BTC.
• CareCoin (CARES) traded down 2.2% against the dollar and now trades at $0.0809 or 0.00000297 BTC.
• Hokkaidu Inu (HOKK) traded 1.2% higher against the dollar and now trades at $0.0004 or 0.00000001 BTC.
• Jeff in Space (JEFF) traded 2.2% lower against the dollar and now trades at $2.75 or 0.00010076 BTC.
• Lumi Credits (LUMI) traded up 8.9% against the dollar and now trades at $0.0162 or 0.00000027 BTC.
• AXIA Coin (AXC) traded down 0.1% against the dollar and now trades at $13.43 or 0.00048094 BTC.
• MVP Coin (MVP) traded down 0.9% against the dollar and now trades at $0.0494 or 0.00000082 BTC.
• P2P Solutions foundation (P2PS) traded down 1.2% against the dollar and now trades at $156.59 or 0.00260692 BTC.

Frax Profile

Frax’s launch date was December 20th, 2020. Frax’s total supply is 1,044,853,133 tokens and its circulating supply is 649,434,270 tokens. The official website for Frax is frax.finance. Frax’s official Twitter account is @fraxfinance and its Facebook page is accessible here.

According to CryptoCompare, “Frax (FRAX) is a stablecoin with a fractional-algorithmic stability mechanism. The open-source Frax protocol offers scalability, decentralization, and on-chain transactions. It addresses issues in existing stablecoin protocols by combining collateralization and algorithmic design. Frax stablecoin (FRAX) is the liquidity pool token, redeemable for traditional currency, while Frax Shares (FXS) serves as the governance token. The protocol accepts various collateral types and promotes stability. Sam Kazemian, with support from Stephen Moore, founded Frax in 2019.”

Buying and Selling Frax

It is usually not currently possible to buy alternative cryptocurrencies such as Frax directly using US dollars. Investors seeking to acquire Frax should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as GDAX, Coinbase or Changelly. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Frax using one of the exchanges listed above.

FRAX/USD price chart by TradingView