Frax Price Reaches $1.00 on Exchanges (FRAX)

Frax (FRAX) traded up 0% against the dollar during the 1 day period ending at 14:00 PM E.T. on May 2nd. Frax has a market cap of $648.45 million and approximately $27.12 million worth of Frax was traded on exchanges in the last 24 hours. Over the last seven days, Frax has traded down 0% against the dollar. One Frax token can currently be bought for approximately $1.00 or 0.00001692 BTC on exchanges.

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

• KILT Protocol (KILT) traded 6.8% higher against the dollar and now trades at $0.30 or 0.00000508 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 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 up 1.2% against the dollar and now trades at $0.0004 or 0.00000001 BTC.
• Lego Coin (LEGO) traded flat against the dollar and now trades at $0.0086 or 0.00000013 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 3% higher against the dollar and now trades at $0.0100 or 0.00000017 BTC.
• AXIA Coin (AXC) traded down 0.1% against the dollar and now trades at $13.43 or 0.00048094 BTC.

About Frax

Frax’s launch date was December 20th, 2020. Frax’s total supply is 1,044,853,133 tokens and its circulating supply is 649,434,270 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.”

Frax Token Trading

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

FRAX/USD price chart by TradingView