Frax Hits Market Cap of $1.43 Billion (FRAX)

Frax (FRAX) traded 0% higher against the U.S. dollar during the 24-hour period ending at 8:00 AM ET on June 23rd. One Frax coin can currently be bought for approximately $1.00 or 0.00004846 BTC on major cryptocurrency exchanges. Over the last seven days, Frax has traded up 0.3% against the U.S. dollar. Frax has a market cap of $1.43 billion and $18.98 million worth of Frax was traded on exchanges in the last day.

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

  • JUMPN (JST) traded 54% lower against the dollar and now trades at $5.46 or 0.00018651 BTC.
  • Tether (USDT) traded 0% higher against the dollar and now trades at $1.00 or 0.00004844 BTC.
  • CV SHOTS (CVSHOT) traded 6.9% lower against the dollar and now trades at $19.53 or 0.00091987 BTC.
  • Sweet SOL (SSOL) traded up 600.9% against the dollar and now trades at $0.0001 or 0.00000000 BTC.
  • Bitsubishi (BITSU) traded 41.8% lower against the dollar and now trades at $116.78 or 0.00566147 BTC.
  • Tari World (TARI) traded 9.3% higher against the dollar and now trades at $15.47 or 0.00075010 BTC.
  • Wrapped Cardano (WADA) traded up 0.2% against the dollar and now trades at $0.47 or 0.00002295 BTC.
  • XRP (XRP) traded up 1.4% against the dollar and now trades at $0.33 or 0.00001589 BTC.
  • Lido stETH (STETH) traded down 0.6% against the dollar and now trades at $2,947.45 or 0.07417648 BTC.
  • Gateway Protocol (GWP) traded 4.8% higher against the dollar and now trades at $2.87 or 0.00013921 BTC.

Frax Coin Profile

Frax launched on December 16th, 2020. Frax’s total supply is 1,426,914,189 coins. Frax’s official Twitter account is @fraxfinance and its Facebook page is accessible here. Frax’s official website is frax.finance/#welcome.

According to CryptoCompare, “Frax attempts to be the first stablecoin protocol to implement design principles of both to create a highly scalable, trustless, extremely stable, and ideologically pure on-chain money. The Frax protocol is a two token system encompassing a stablecoin, Frax (FRAX), and a governance token, Frax Shares (FXS). The protocol also has pool contracts which hold collateral (at genesis USDT and USDC). Pools can be added or removed with governance. “

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 GDAX, Changelly or Gemini. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Frax using one of the aforementioned exchanges.

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