Frax (FRAX) Price Reaches $1.00 on Exchanges

Frax (FRAX) traded down 0% against the US dollar during the twenty-four hour period ending at 8:00 AM ET on March 10th. One Frax token can currently be bought for approximately $1.00 or 0.00001204 BTC on exchanges. Over the last week, Frax has traded 0.2% higher against the US dollar. Frax has a total market cap of $496.01 million and $13.28 million worth of Frax was traded on exchanges in the last 24 hours.

Here’s how related cryptocurrencies have performed over the last 24 hours:

• Taiko (TAIKO) traded down 0.9% against the dollar and now trades at $0.77 or 0.00000926 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.
• 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 down 1.6% against the dollar and now trades at $83,056.69 or 1.00227488 BTC.
• SolvBTC.BBN (SOLVBTC.BB) traded down 3.3% against the dollar and now trades at $81,908.18 or 0.98841535 BTC.
• Lumi Credits (LUMI) traded up 8.9% against the dollar and now trades at $0.0162 or 0.00000027 BTC.

Frax Token Profile

Frax was first traded on December 20th, 2020. Frax’s total supply is 497,136,309 tokens and its circulating supply is 497,136,308 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 presently possible to buy alternative cryptocurrencies such as Frax directly using U.S. dollars. Investors seeking to trade Frax should first buy 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 buy Frax using one of the exchanges listed above.

FRAX/USD price chart by TradingView