Frax (FRAX) Achieves Self Reported Market Capitalization of $647.40 Million

Frax (FRAX) traded 0% lower against the U.S. dollar during the one day period ending at 17:00 PM ET on August 25th. Frax has a market cap of $647.40 million and approximately $4.21 million worth of Frax was traded on exchanges in the last 24 hours. One Frax token can now be purchased for approximately $1.00 or 0.00001551 BTC on major exchanges. During the last seven days, Frax has traded up 0% against the U.S. dollar.

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

• 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.
• 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 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 up 1% against the dollar and now trades at $0.0616 or 0.00000096 BTC.
• P2P Solutions foundation (P2PS) traded 1% lower against the dollar and now trades at $158.97 or 0.00247407 BTC.

Frax Profile

Frax’s genesis date was December 20th, 2020. Frax’s total supply is 1,044,853,133 tokens and its circulating supply is 649,434,270 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.”

Buying and Selling Frax

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

FRAX/USD price chart by TradingView