Frax Reaches Self Reported Market Capitalization of $648.36 Million (FRAX)

Frax (FRAX) traded 0.2% higher against the U.S. dollar during the twenty-four hour period ending at 20:00 PM ET on April 16th. During the last seven days, Frax has traded 0.1% higher against the U.S. dollar. Frax has a market capitalization of $648.36 million and approximately $35.56 million worth of Frax was traded on exchanges in the last 24 hours. One Frax token can currently be bought for $1.00 or 0.00001566 BTC on popular exchanges.

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

• KILT Protocol (KILT) traded down 5.8% against the dollar and now trades at $0.33 or 0.00000522 BTC.
• 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.
• Kitty Inu (KITTY) traded up 1.9% against the dollar and now trades at $95.84 or 0.00338062 BTC.
• Hokkaidu Inu (HOKK) traded up 1.2% against the dollar and now trades at $0.0004 or 0.00000001 BTC.
• Lego Coin (LEGO) traded flat against the dollar and now trades at $0.0086 or 0.00000013 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 1.2% higher against the dollar and now trades at $0.0087 or 0.00000014 BTC.
• AXIA Coin (AXC) traded down 0.1% against the dollar and now trades at $13.43 or 0.00048094 BTC.

Frax Profile

Frax was first traded on 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 presently possible to purchase alternative cryptocurrencies such as Frax directly using US dollars. Investors seeking to acquire Frax should first purchase Ethereum or Bitcoin using an exchange that deals in US dollars such as GDAX, Changelly or Coinbase. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Frax using one of the aforementioned exchanges.

FRAX/USD price chart by TradingView