Frax Price Reaches $1.00 on Major Exchanges (FRAX)

Frax (FRAX) traded up 0.2% against the dollar during the 1-day period ending at 8:00 AM Eastern on February 12th. Frax has a total market cap of $652.54 million and approximately $6.93 million worth of Frax was traded on exchanges in the last 24 hours. One Frax token can now be bought for $1.00 or 0.00002097 BTC on popular cryptocurrency exchanges. During the last week, Frax has traded up 0.6% against the dollar.

Here is how other cryptocurrencies have performed during the last 24 hours:

  • KILT Protocol (KILT) traded down 0.5% against the dollar and now trades at $0.33 or 0.00000688 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 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.
  • Lego Coin (LEGO) traded down 0% against the dollar and now trades at $0.0101 or 0.00000021 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 up 0.3% against the dollar and now trades at $0.0091 or 0.00000019 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 was first traded on December 20th, 2020. Frax’s total supply is 1,044,853,133 tokens and its circulating supply is 649,462,235 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.”

Buying and Selling Frax

It is usually not possible to buy alternative cryptocurrencies such as Frax directly using US dollars. Investors seeking to trade Frax should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as Gemini, Coinbase or Changelly. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Frax using one of the aforementioned exchanges.

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