Frax (CURRENCY:FRAX) traded down 0.9% against the dollar during the 24-hour period ending at 12:00 PM ET on April 12th. One Frax coin can currently be bought for $1.00 or 0.00001663 BTC on cryptocurrency exchanges. During the last seven days, Frax has traded down 1.2% against the dollar. Frax has a market capitalization of $116.33 million and approximately $4.51 million worth of Frax was traded on exchanges in the last day.
Here’s how similar cryptocurrencies have performed during the last day:
- XRP (XRP) traded 1.6% lower against the dollar and now trades at $1.37 or 0.00002275 BTC.
- Tether (USDT) traded 0% lower against the dollar and now trades at $1.00 or 0.00001667 BTC.
- Polkadot (DOT) traded 1.2% lower against the dollar and now trades at $40.03 or 0.00066646 BTC.
- Filecoin (FIL) traded 7.9% lower against the dollar and now trades at $164.32 or 0.00273609 BTC.
- Klaytn (KLAY) traded down 1.3% against the dollar and now trades at $2.93 or 0.00004874 BTC.
- Kusama (KSM) traded down 3.1% against the dollar and now trades at $427.68 or 0.00712132 BTC.
- Bitcoin BEP2 (BTCB) traded 0.4% higher against the dollar and now trades at $59,884.24 or 0.99712977 BTC.
- Wrapped BNB (WBNB) traded up 21.7% against the dollar and now trades at $575.56 or 0.00958369 BTC.
- KnoxFS (old) (KFX) traded 4.3% higher against the dollar and now trades at $19.25 or 0.00049793 BTC.
- THORChain (RUNE) traded 7% lower against the dollar and now trades at $10.96 or 0.00018252 BTC.
According to CryptoCompare, “Frax attempts to be the first stablecoin protocol to implement design principles of both to create a highly scalable, trustless, extremely stable, and ideologically pure on-chain money. The Frax protocol is a two token system encompassing a stablecoin, Frax (FRAX), and a governance token, Frax Shares (FXS). The protocol also has pool contracts which hold collateral (at genesis USDT and USDC). Pools can be added or removed with governance. “
Frax Coin Trading
It is usually not possible to purchase alternative cryptocurrencies such as Frax directly using U.S. dollars. Investors seeking to acquire Frax should first purchase Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Coinbase, Gemini or Changelly. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Frax using one of the aforementioned exchanges.
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