Frax (FRAX) Price Tops $0.99 on Major Exchanges

Frax (FRAX) traded 0.1% lower against the dollar during the twenty-four hour period ending at 8:00 AM Eastern on January 1st. Frax has a market cap of $645.95 million and approximately $6.30 million worth of Frax was traded on exchanges in the last day. One Frax token can currently be bought for approximately $0.99 or 0.00001062 BTC on major exchanges. In the last seven days, Frax has traded 0.1% lower against the dollar.

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

• 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 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.
• 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 2.2% lower against the dollar and now trades at $2.75 or 0.00010076 BTC.
• SolvBTC (SOLVBTC) traded 1% lower against the dollar and now trades at $93,345.77 or 0.99731224 BTC.
• SolvBTC.BBN (SOLVBTC.BB) traded down 0.9% against the dollar and now trades at $93,008.98 or 0.99371399 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.

About Frax

Frax’s launch date was December 20th, 2020. Frax’s total supply is 649,433,438 tokens. Frax’s official website 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 presently possible to buy alternative cryptocurrencies such as Frax directly using US dollars. Investors seeking to trade Frax should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as Coinbase, GDAX 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