Frax Price Tops $1.00 on Exchanges (FRAX)

Frax (FRAX) traded 0% higher against the U.S. dollar during the 1 day period ending at 8:00 AM ET on March 18th. One Frax token can currently be bought for approximately $1.00 or 0.00001211 BTC on cryptocurrency exchanges. In the last seven days, Frax has traded up 0.2% against the U.S. dollar. Frax has a market capitalization of $348.43 million and $6.14 million worth of Frax was traded on exchanges in the last 24 hours.

Here’s how other cryptocurrencies have performed in the last 24 hours:

• Taiko (TAIKO) traded down 2.9% against the dollar and now trades at $0.63 or 0.00000764 BTC.
• 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 down 2.2% 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 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.BBN (SOLVBTC.BB) traded 0.2% lower against the dollar and now trades at $82,732.00 or 1.00119277 BTC.
• SolvBTC (SOLVBTC) traded down 0.7% against the dollar and now trades at $82,578.57 or 1.00113500 BTC.
• Lumi Credits (LUMI) traded up 8.9% against the dollar and now trades at $0.0162 or 0.00000027 BTC.

Frax Token Profile

Frax launched on December 20th, 2020. Frax’s total supply is 348,870,236 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.”

Buying and Selling Frax

It is usually not currently possible to buy alternative cryptocurrencies such as Frax directly using US dollars. Investors seeking to acquire Frax should first buy 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 buy Frax using one of the aforementioned exchanges.

FRAX/USD price chart by TradingView