Frax Price Tops $1.00 on Top Exchanges (FRAX)

Frax (FRAX) traded up 0% against the US dollar during the 24-hour period ending at 0:00 AM ET on September 6th. Frax has a total market cap of $647.56 million and $10.79 million worth of Frax was traded on exchanges in the last 24 hours. One Frax token can now be bought for $1.00 or 0.00001853 BTC on popular exchanges. During the last week, Frax has traded up 0.1% against the US dollar.

Here is how similar cryptocurrencies have performed during 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 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.
• 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 up 8.9% against the dollar and now trades at $0.0162 or 0.00000027 BTC.
• AXIA Coin (AXC) traded 0.1% lower against the dollar and now trades at $13.43 or 0.00048094 BTC.
• MVP Coin (MVP) traded 2.3% higher against the dollar and now trades at $0.0530 or 0.00000099 BTC.
• 2G Carbon Coin (2GCC) traded down 0.4% against the dollar and now trades at $0.0480 or 0.00000183 BTC.

Frax Profile

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

Buying and Selling Frax

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

FRAX/USD price chart by TradingView