Frax (FRAX) Price Hits $1.00 on Major Exchanges

Frax (FRAX) traded 0% higher against the U.S. dollar during the 24-hour period ending at 8:00 AM ET on January 25th. During the last seven days, Frax has traded up 0% against the U.S. dollar. Frax has a market capitalization of $647.52 million and approximately $11.30 million worth of Frax was traded on exchanges in the last 24 hours. One Frax token can now be bought for $1.00 or 0.00000952 BTC on popular cryptocurrency exchanges.

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

• 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 up 1.2% 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.
• SolvBTC (SOLVBTC) traded down 0.7% against the dollar and now trades at $104,374.07 or 0.99639783 BTC.
• SolvBTC.BBN (SOLVBTC.BB) traded 0.6% lower against the dollar and now trades at $103,843.16 or 0.99132956 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 down 0.1% against the dollar and now trades at $13.43 or 0.00048094 BTC.

Frax Token Profile

Frax’s genesis date was December 20th, 2020. Frax’s total supply is 649,433,438 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 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, Changelly or GDAX. 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