Frax Reaches Market Capitalization of $1.17 Billion (FRAX)

Frax (FRAX) traded 0.8% lower against the U.S. dollar during the 1 day period ending at 0:00 AM ET on November 24th. During the last week, Frax has traded down 0.4% against the U.S. dollar. One Frax token can now be purchased for approximately $0.99 or 0.00006001 BTC on major cryptocurrency exchanges. Frax has a market cap of $1.17 billion and $4.36 million worth of Frax was traded on exchanges in the last day.

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

  • KILT Protocol (KILT) traded 11.3% lower against the dollar and now trades at $0.38 or 0.00002275 BTC.
  • Aidi Finance (BSC) (AIDI) traded up 7.8% against the dollar and now trades at $0.0000 or 0.00000000 BTC.
  • Zoo Token (ZOOT) traded 1.6% higher against the dollar and now trades at $0.0456 or 0.00000275 BTC.
  • CareCoin (CARES) traded up 1.6% against the dollar and now trades at $0.0566 or 0.00000341 BTC.
  • OmniaVerse (OMNIA) traded up 6.2% against the dollar and now trades at $0.0012 or 0.00000007 BTC.
  • 2G Carbon Coin (2GCC) traded up 3% against the dollar and now trades at $1,436.69 or 0.08662447 BTC.
  • Kitty Inu (KITTY) traded up 1.6% against the dollar and now trades at $80.13 or 0.00483120 BTC.
  • Lunar (LNR) traded up 3.1% against the dollar and now trades at $0.0602 or 0.00000363 BTC.
  • Hokkaidu Inu (HOKK) traded 15.4% lower against the dollar and now trades at $0.0004 or 0.00000002 BTC.
  • QANplatform (QANX) traded up 1.6% against the dollar and now trades at $4,916.09 or 0.29641368 BTC.

Frax Token Profile

Frax launched on December 16th, 2020. Frax’s total supply is 1,177,827,327 tokens. Frax’s official Twitter account is @fraxfinance and its Facebook page is accessible here. Frax’s official website is frax.finance/#welcome.

According to CryptoCompare, “Frax attempts to be the first stablecoin protocol to implement design principles of both to create a highly scalable, trustless, extremely stable, and ideologically pure on-chain money. The Frax protocol is a two token system encompassing a stablecoin, Frax (FRAX), and a governance token, Frax Shares (FXS). The protocol also has pool contracts which hold collateral (at genesis USDT and USDC). Pools can be added or removed with governance.”

Buying and Selling Frax

It is usually not currently 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 Changelly, GDAX or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Frax using one of the exchanges listed above.

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