Frax (CURRENCY:FRAX) traded 0.5% higher against the dollar during the 24 hour period ending at 15:00 PM ET on September 15th. Frax has a total market cap of $324.16 million and $6.22 million worth of Frax was traded on exchanges in the last day. One Frax coin can currently be purchased for $1.00 or 0.00002089 BTC on exchanges. During the last seven days, Frax has traded down 0.2% against the dollar.
Here’s how other cryptocurrencies have performed during the last day:
- Tether (USDT) traded 0% lower against the dollar and now trades at $1.00 or 0.00002084 BTC.
- XRP (XRP) traded 4.8% higher against the dollar and now trades at $1.12 or 0.00002337 BTC.
- Polkadot (DOT) traded down 0.3% against the dollar and now trades at $36.48 or 0.00075995 BTC.
- Internet Computer (ICP) traded up 9.3% against the dollar and now trades at $60.93 or 0.00126921 BTC.
- Filecoin (FIL) traded 7.8% higher against the dollar and now trades at $85.26 or 0.00177614 BTC.
- eCash (XEC) traded up 2.3% against the dollar and now trades at $0.0002 or 0.00000001 BTC.
- stETH (Lido) (STETH) traded 4.2% higher against the dollar and now trades at $3,480.27 or 0.07250223 BTC.
- Bitcoin BEP2 (BTCB) traded up 3.2% against the dollar and now trades at $47,984.21 or 0.99962290 BTC.
- Kusama (KSM) traded up 2.1% against the dollar and now trades at $421.27 or 0.00877602 BTC.
- Klaytn (KLAY) traded 1.1% higher against the dollar and now trades at $1.36 or 0.00002832 BTC.
According to CryptoCompare, “Frax attempts to be the first stablecoin protocol to implement design principles of both to create a highly scalable, trustless, extremely stable, and ideologically pure on-chain money. The Frax protocol is a two token system encompassing a stablecoin, Frax (FRAX), and a governance token, Frax Shares (FXS). The protocol also has pool contracts which hold collateral (at genesis USDT and USDC). Pools can be added or removed with governance. “
Buying and Selling Frax
It is usually not possible to purchase alternative cryptocurrencies such as Frax directly using U.S. dollars. Investors seeking to acquire Frax should first purchase Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as GDAX, Gemini or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Frax using one of the exchanges listed above.
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