Frax Self Reported Market Cap Reaches $648.66 Million (FRAX)

Frax (FRAX) traded 0% higher against the U.S. dollar during the 1-day period ending at 19:00 PM E.T. on April 22nd. One Frax token can currently be purchased for $1.00 or 0.00001493 BTC on cryptocurrency exchanges. During the last week, Frax has traded up 0.2% against the U.S. dollar. Frax has a market capitalization of $648.66 million and $24.76 million worth of Frax was traded on exchanges in the last 24 hours.

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

• KILT Protocol (KILT) traded 0.3% lower against the dollar and now trades at $0.33 or 0.00000498 BTC.
• 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 2.2% lower 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.
• Kitty Inu (KITTY) traded 1.9% higher against the dollar and now trades at $95.84 or 0.00338062 BTC.
• Hokkaidu Inu (HOKK) traded 1.2% higher against the dollar and now trades at $0.0004 or 0.00000001 BTC.
• Lego Coin (LEGO) traded flat against the dollar and now trades at $0.0086 or 0.00000013 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 1.1% higher against the dollar and now trades at $0.0089 or 0.00000013 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 was first traded on December 20th, 2020. Frax’s total supply is 1,044,853,133 tokens and its circulating supply is 649,434,270 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 presently possible to buy alternative cryptocurrencies such as Frax directly using US dollars. Investors seeking to acquire Frax should first buy Bitcoin or Ethereum using an exchange that deals in US 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