Frax Share (FXS) Self Reported Market Capitalization Achieves $136.63 Million

Frax Share (FXS) traded 1% lower against the US dollar during the 1 day period ending at 8:00 AM Eastern on March 6th. One Frax Share token can currently be purchased for about $1.55 or 0.00001716 BTC on major cryptocurrency exchanges. Frax Share has a market capitalization of $136.63 million and approximately $12.51 million worth of Frax Share was traded on exchanges in the last day. During the last week, Frax Share has traded 7% lower against the US dollar.

Here is how similar cryptocurrencies have performed during the last day:

• Taiko (TAIKO) traded up 0.4% against the dollar and now trades at $0.83 or 0.00000921 BTC.
• 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 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 (SOLVBTC) traded 0.6% higher against the dollar and now trades at $90,229.20 or 1.00047463 BTC.
• SolvBTC.BBN (SOLVBTC.BB) traded up 0.6% against the dollar and now trades at $89,843.75 or 0.99620066 BTC.
• Lumi Credits (LUMI) traded 8.9% higher against the dollar and now trades at $0.0162 or 0.00000027 BTC.

Frax Share Token Profile

Frax Share’s launch date was December 20th, 2020. Frax Share’s total supply is 99,681,496 tokens and its circulating supply is 88,279,588 tokens. Frax Share’s official website is frax.finance. Frax Share’s official Twitter account is @fraxfinance and its Facebook page is accessible here.

According to CryptoCompare, “Frax Finance is a decentralised finance (DeFi) platform offering algorithmic stablecoins and financial instruments, launched in 2020 by Sam Kazemian. It includes FRAX, a USD-pegged stablecoin, FPI (pegged to consumer goods), and frxETH (a liquid staking derivative). Frax Share (FXS) is the governance and utility token of the ecosystem, enabling holders to participate in protocol governance, influence liquidity incentives, and receive protocol revenue. FXS holders can lock their tokens for veFXS, which provides enhanced voting power and rewards. FXS also benefits from revenue generated across Fraxlend, Fraxswap, and AMOs. Originally, FXS was needed for minting FRAX, but newer versions shifted its role to governance and yield distribution. The project leverages AMO strategies and Fraxtal, its Layer 2 chain, for scalability and capital efficiency while maintaining decentralisation and stability.”

Buying and Selling Frax Share

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

FXS/USD price chart by TradingView