Frax Price Reaches $1.00 (FRAX)

Frax (FRAX) traded 0% lower against the US dollar during the twenty-four hour period ending at 12:00 PM Eastern on October 23rd. One Frax token can currently be bought for about $1.00 or 0.00001506 BTC on cryptocurrency exchanges. Frax has a total market capitalization of $647.53 million and approximately $5.43 million worth of Frax was traded on exchanges in the last day. During the last week, Frax has traded 0% higher against the US dollar.

Here’s how similar 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 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 8.9% higher 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 down 0% against the dollar and now trades at $0.0944 or 0.00000141 BTC.
• P2P Solutions foundation (P2PS) traded 3.2% lower against the dollar and now trades at $165.13 or 0.00249487 BTC.

Frax Token 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 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 Coinbase, Gemini or Changelly. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Frax using one of the aforementioned exchanges.

FRAX/USD price chart by TradingView