Frax (FRAX) Price Reaches $1.00

Frax (FRAX) traded 0.1% lower against the US dollar during the 24 hour period ending at 7:00 AM Eastern on November 14th. One Frax token can now be purchased for approximately $1.00 or 0.00001092 BTC on major cryptocurrency exchanges. Over the last seven days, Frax has traded 0.1% lower against the US dollar. Frax has a total market cap of $646.25 million and $9.81 million worth of Frax was traded on exchanges in the last 24 hours.

Here is how related 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 2.2% lower 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 up 1.2% 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.
• SolvBTC (SOLVBTC) traded 3.8% higher against the dollar and now trades at $90,954.24 or 0.99777833 BTC.
• SolvBTC.BBN (SOLVBTC.BB) traded 3.9% higher against the dollar and now trades at $90,858.49 or 0.99672787 BTC.
• Lumi Credits (LUMI) traded up 8.9% against the dollar and now trades at $0.0162 or 0.00000027 BTC.
• AXIA Coin (AXC) traded 0.1% lower against the dollar and now trades at $13.43 or 0.00048094 BTC.

Frax Profile

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. The official website for Frax 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.”

Frax Token Trading

It is usually not currently possible to buy alternative cryptocurrencies such as Frax directly using U.S. dollars. Investors seeking to acquire Frax should first buy Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as GDAX, Gemini or Coinbase. 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