Frax Trading Up 0.1% Over Last 7 Days (FRAX)

Frax (FRAX) traded up 0.1% against the U.S. dollar during the 24 hour period ending at 8:00 AM ET on January 21st. One Frax token can now be bought for approximately $1.00 or 0.00000954 BTC on cryptocurrency exchanges. Frax has a total market cap of $646.78 million and approximately $20.61 million worth of Frax was traded on exchanges in the last 24 hours. During the last week, Frax has traded 0.1% higher against the U.S. dollar.

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

• 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 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.
• SolvBTC (SOLVBTC) traded 2.1% lower against the dollar and now trades at $104,108.45 or 0.99758237 BTC.
• SolvBTC.BBN (SOLVBTC.BB) traded 2.3% lower against the dollar and now trades at $103,597.37 or 0.99268508 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 launch 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. 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 currently possible to buy alternative cryptocurrencies such as Frax directly using U.S. dollars. Investors seeking to trade Frax should first buy Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Changelly, Coinbase or Gemini. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Frax using one of the exchanges listed above.

FRAX/USD price chart by TradingView