Frax (FRAX) Achieves Self Reported Market Cap of $647.24 Million

Frax (FRAX) traded 0% higher against the U.S. dollar during the 1 day period ending at 8:00 AM E.T. on January 17th. Frax has a total market capitalization of $647.24 million and $29.15 million worth of Frax was traded on exchanges in the last day. Over the last week, Frax has traded up 0.1% against the U.S. dollar. One Frax token can currently be purchased for about $1.00 or 0.00000972 BTC on popular exchanges.

Here is how other cryptocurrencies have performed over the last day:

• Aidi Finance (BSC) (AIDI) traded down 2.2% 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.
• SolvBTC (SOLVBTC) traded up 3.5% against the dollar and now trades at $102,330.75 or 0.99782150 BTC.
• SolvBTC.BBN (SOLVBTC.BB) traded 3.4% higher against the dollar and now trades at $101,347.84 or 0.98823724 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.

Frax Token Profile

Frax’s genesis date was December 20th, 2020. Frax’s total supply is 649,433,438 tokens. Frax’s official Twitter account is @fraxfinance and its Facebook page is accessible here. Frax’s official website 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 purchase alternative cryptocurrencies such as Frax directly using U.S. dollars. Investors seeking to acquire Frax should first purchase Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as GDAX, Changelly or Gemini. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Frax using one of the exchanges listed above.

FRAX/USD price chart by TradingView