Frax Share Hits Self Reported Market Cap of $185.03 Million (FXS)

Frax Share (FXS) traded 2.3% higher against the dollar during the one day period ending at 16:00 PM ET on July 28th. During the last week, Frax Share has traded down 9.5% against the dollar. Frax Share has a total market capitalization of $185.03 million and approximately $21.54 million worth of Frax Share was traded on exchanges in the last day. One Frax Share token can currently be bought for approximately $2.28 or 0.00003356 BTC on major exchanges.

Here’s how other cryptocurrencies have performed during the last day:

• KILT Protocol (KILT) traded down 0.2% against the dollar and now trades at $0.19 or 0.00000272 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 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.
• Kitty Inu (KITTY) traded 1.9% higher against the dollar and now trades at $95.84 or 0.00338062 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.
• Lumi Credits (LUMI) traded up 0.2% against the dollar and now trades at $0.0134 or 0.00000020 BTC.
• AXIA Coin (AXC) traded 0.1% lower against the dollar and now trades at $13.43 or 0.00048094 BTC.

Frax Share Token Profile

Frax Share launched on December 20th, 2020. Frax Share’s total supply is 99,681,496 tokens and its circulating supply is 80,992,446 tokens. Frax Share’s official Twitter account is @fraxfinance and its Facebook page is accessible here. Frax Share’s official website is frax.finance.

According to CryptoCompare, “The Frax Share token (FXS) is a non-stable, utility token that holds rights to governance and all utility of the Frax protocol. It has a highly governance-minimized approach to designing trustless money and eschews DAO-like active management. FXS tokens can be used for adding/adjusting collateral pools, adjusting various fees, and refreshing the rate of the collateral ratio. The FXS token has the potential for upside and downside utility of the system, and the supply is initially set to 100 million tokens at genesis. The design of the protocol is such that FXS would be largely deflationary in supply as long as FRAX demand grows.”

Buying and Selling Frax Share

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

FXS/USD price chart by TradingView