Frax (FRAX) Hits 1-Day Trading Volume of $24.35 Million

Frax (FRAX) traded up 0.1% against the US dollar during the 1 day period ending at 8:00 AM E.T. on December 16th. One Frax token can now be purchased for about $1.00 or 0.00000962 BTC on popular exchanges. Frax has a total market capitalization of $647.34 million and $24.35 million worth of Frax was traded on exchanges in the last day. During the last week, Frax has traded up 0.1% against the US dollar.

Here is how similar cryptocurrencies have performed during the last day:

• 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.
• 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.
• SolvBTC (SOLVBTC) traded up 0.8% against the dollar and now trades at $103,419.51 or 0.99829650 BTC.
• SolvBTC.BBN (SOLVBTC.BB) traded up 1.2% against the dollar and now trades at $103,300.99 or 0.99715242 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 down 0.1% 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 649,433,438 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 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 Gemini, Coinbase or Changelly. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Frax using one of the exchanges listed above.

FRAX/USD price chart by TradingView