Frax Reaches Self Reported Market Capitalization of $647.82 Million (FRAX)

Frax (FRAX) traded 0.1% higher against the US dollar during the 1-day period ending at 12:00 PM E.T. on July 5th. During the last week, Frax has traded 0% higher against the US dollar. Frax has a market cap of $647.82 million and $32.44 million worth of Frax was traded on exchanges in the last 24 hours. One Frax token can currently be purchased for about $1.00 or 0.00001764 BTC on exchanges.

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

• KILT Protocol (KILT) traded down 2.2% against the dollar and now trades at $0.18 or 0.00000324 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 2.2% lower against the dollar and now trades at $0.0809 or 0.00000297 BTC.
• Kitty Inu (KITTY) traded up 1.9% 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.
• Jeff in Space (JEFF) traded down 2.2% against the dollar and now trades at $2.75 or 0.00010076 BTC.
• Lumi Credits (LUMI) traded down 0.5% against the dollar and now trades at $0.0117 or 0.00000021 BTC.
• AXIA Coin (AXC) traded down 0.1% against the dollar and now trades at $13.43 or 0.00048094 BTC.

Frax 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 website is frax.finance. Frax’s official Twitter account is @fraxfinance and its Facebook page is accessible here.

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 possible to purchase alternative cryptocurrencies such as Frax directly using U.S. dollars. Investors seeking to trade Frax should first purchase 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 purchase Frax using one of the aforementioned exchanges.

FRAX/USD price chart by TradingView