Frax (FRAX) Self Reported Market Cap Reaches $647.52 Million

Frax (FRAX) traded 0% lower against the US dollar during the 1-day period ending at 16:00 PM E.T. on June 27th. One Frax token can currently be purchased for $1.00 or 0.00001622 BTC on popular cryptocurrency exchanges. Frax has a total market capitalization of $647.52 million and $19.50 million worth of Frax was traded on exchanges in the last day. Over the last seven days, Frax has traded down 0% against the US dollar.

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

• KILT Protocol (KILT) traded 3.1% higher against the dollar and now trades at $0.21 or 0.00000348 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 2.2% lower against the dollar and now trades at $0.0809 or 0.00000297 BTC.
• Kitty Inu (KITTY) traded 1.9% higher 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 0.6% lower against the dollar and now trades at $0.0112 or 0.00000018 BTC.
• AXIA Coin (AXC) traded down 0.1% against the dollar and now trades at $13.43 or 0.00048094 BTC.

Frax Profile

Frax was first traded on December 20th, 2020. Frax’s total supply is 1,044,853,133 tokens and its circulating supply is 649,434,270 tokens. Frax’s official Twitter account is @fraxfinance and its Facebook page is accessible here. The official website for Frax 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.”

Frax Token Trading

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

FRAX/USD price chart by TradingView