Frax (FRAX) Hits 24 Hour Trading Volume of $5.70 Million

Frax (FRAX) traded down 0% against the U.S. dollar during the 1-day period ending at 12:00 PM E.T. on October 16th. Over the last seven days, Frax has traded 0% higher against the U.S. dollar. Frax has a total market cap of $647.64 million and approximately $5.70 million worth of Frax was traded on exchanges in the last 24 hours. One Frax token can currently be bought for about $1.00 or 0.00001472 BTC on popular exchanges.

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

• 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 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.
• Lumi Credits (LUMI) traded 8.9% higher against the dollar and now trades at $0.0162 or 0.00000027 BTC.
• AXIA Coin (AXC) traded down 0.1% against the dollar and now trades at $13.43 or 0.00048094 BTC.
• MVP Coin (MVP) traded 3.5% higher against the dollar and now trades at $0.0494 or 0.00000073 BTC.
• P2P Solutions foundation (P2PS) traded up 1.2% against the dollar and now trades at $168.69 or 0.00248971 BTC.

Frax Token Profile

Frax’s launch date was December 20th, 2020. Frax’s total supply is 1,044,853,133 tokens and its circulating supply is 649,433,438 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 acquire Frax should first buy Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as GDAX, Coinbase or Changelly. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Frax using one of the aforementioned exchanges.

FRAX/USD price chart by TradingView