Frax (FRAX) Hits Self Reported Market Cap of $646.58 Million

Frax (FRAX) traded 0% higher against the U.S. dollar during the 24-hour period ending at 7:00 AM E.T. on November 30th. Frax has a market cap of $646.58 million and approximately $8.58 million worth of Frax was traded on exchanges in the last day. In the last seven days, Frax has traded 0% lower against the U.S. dollar. One Frax token can now be purchased for approximately $1.00 or 0.00001033 BTC on popular exchanges.

Here is how related cryptocurrencies have performed in 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 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 1.2% higher 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.
• SolvBTC.BBN (SOLVBTC.BB) traded down 0.1% against the dollar and now trades at $96,208.01 or 0.99780367 BTC.
• SolvBTC (SOLVBTC) traded 0.7% lower against the dollar and now trades at $96,152.58 or 0.99722883 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 was first traded 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.”

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 Bitcoin or Ethereum using an exchange that deals in US dollars such as Gemini, Coinbase or GDAX. 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