Frax Reaches Self Reported Market Capitalization of $647.45 Million (FRAX)

Frax (FRAX) traded 0% lower against the US dollar during the 24-hour period ending at 19:00 PM Eastern on October 16th. During the last seven days, Frax has traded down 0% against the US dollar. One Frax token can currently be bought for $1.00 or 0.00001471 BTC on major exchanges. Frax has a total market cap of $647.45 million and $5.50 million worth of Frax was traded on exchanges in the last day.

Here is how related cryptocurrencies have performed during the last day:

• 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 down 2.2% 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 up 1.2% against the dollar and now trades at $0.0004 or 0.00000001 BTC.
• Jeff in Space (JEFF) traded down 2.2% 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 0.1% lower against the dollar and now trades at $13.43 or 0.00048094 BTC.
• MVP Coin (MVP) traded 8.1% higher against the dollar and now trades at $0.0494 or 0.00000073 BTC.
• P2P Solutions foundation (P2PS) traded up 1.1% against the dollar and now trades at $169.80 or 0.00250561 BTC.

Frax Profile

Frax launched on December 20th, 2020. Frax’s total supply is 1,044,853,133 tokens and its circulating supply is 649,433,438 tokens. Frax’s official Twitter account is @fraxfinance and its Facebook page is accessible here. The official website for Frax is frax.finance.

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.”

Frax Token Trading

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

FRAX/USD price chart by TradingView