Frax (FRAX) Trading 0.1% Lower This Week

Frax (FRAX) traded 0% higher against the dollar during the 1-day period ending at 16:00 PM Eastern on July 28th. Over the last week, Frax has traded 0.1% lower against the dollar. Frax has a total market capitalization of $647.00 million and approximately $10.13 million worth of Frax was traded on exchanges in the last day. One Frax token can now be bought for about $1.00 or 0.00001464 BTC on major cryptocurrency exchanges.

Here is how related cryptocurrencies have performed over the last day:

• KILT Protocol (KILT) traded 0.2% lower against the dollar and now trades at $0.19 or 0.00000272 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.
• 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 0.2% higher against the dollar and now trades at $0.0134 or 0.00000020 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 launched 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 currently 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, Gemini or GDAX. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Frax using one of the aforementioned exchanges.

FRAX/USD price chart by TradingView