Frax Price Reaches $1.00 (FRAX)

Frax (FRAX) traded down 0% against the U.S. dollar during the twenty-four hour period ending at 12:00 PM E.T. on October 23rd. In the last seven days, Frax has traded 0% higher against the U.S. dollar. One Frax token can now be purchased for approximately $1.00 or 0.00001506 BTC on exchanges. Frax has a market capitalization of $647.53 million and approximately $5.43 million worth of Frax was traded on exchanges in the last day.

Here’s how other 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 down 2.2% against the dollar and now trades at $0.0652 or 0.00000239 BTC.
• CareCoin (CARES) traded 2.2% lower 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 2.2% lower against the dollar and now trades at $2.75 or 0.00010076 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.
• MVP Coin (MVP) traded down 0% against the dollar and now trades at $0.0944 or 0.00000141 BTC.
• P2P Solutions foundation (P2PS) traded down 3.2% against the dollar and now trades at $165.13 or 0.00249487 BTC.

Frax Token Profile

Frax’s genesis date was December 20th, 2020. Frax’s total supply is 1,044,853,133 tokens and its circulating supply is 649,433,438 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 presently possible to purchase alternative cryptocurrencies such as Frax directly using U.S. dollars. Investors seeking to trade Frax should first purchase Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Coinbase, Changelly or Gemini. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Frax using one of the exchanges listed above.

FRAX/USD price chart by TradingView