Frax Self Reported Market Cap Reaches $647.20 Million (FRAX)

Frax (FRAX) traded 0.9% lower against the U.S. dollar during the 1-day period ending at 14:00 PM E.T. on November 1st. One Frax token can now be bought for about $1.00 or 0.00001433 BTC on cryptocurrency exchanges. Frax has a market cap of $647.20 million and approximately $11,921.23 worth of Frax was traded on exchanges in the last 24 hours. Over the last seven days, Frax has traded down 0% against the U.S. dollar.

Here’s how other cryptocurrencies have performed over 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 1.2% higher 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 8.9% higher against the dollar and now trades at $0.0162 or 0.00000027 BTC.
• SolvBTC.BBN (SOLVBTC.BB) traded 0.6% lower against the dollar and now trades at $69,983.04 or 1.00658264 BTC.
• SolvBTC (SOLVBTC) traded down 0.9% against the dollar and now trades at $69,839.88 or 1.00452346 BTC.
• AXIA Coin (AXC) traded 0.1% lower against the dollar and now trades at $13.43 or 0.00048094 BTC.

About Frax

Frax launched 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. 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 currently possible to buy alternative cryptocurrencies such as Frax directly using US dollars. Investors seeking to acquire Frax should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as Gemini, Changelly or GDAX. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Frax using one of the exchanges listed above.

FRAX/USD price chart by TradingView