Frax (FRAX) Price Hits $1.00 on Exchanges

Frax (FRAX) traded down 0.1% against the US dollar during the 1-day period ending at 9:00 AM Eastern on April 29th. Frax has a market capitalization of $648.07 million and approximately $15.61 million worth of Frax was traded on exchanges in the last day. One Frax token can now be bought for about $1.00 or 0.00001596 BTC on cryptocurrency exchanges. In the last week, Frax has traded 0.1% lower against the US dollar.

Here’s how related cryptocurrencies have performed in the last day:

• KILT Protocol (KILT) traded 1% lower against the dollar and now trades at $0.30 or 0.00000474 BTC.
• 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 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.
• Kitty Inu (KITTY) traded up 1.9% against the dollar and now trades at $95.84 or 0.00338062 BTC.
• Hokkaidu Inu (HOKK) traded up 1.2% against the dollar and now trades at $0.0004 or 0.00000001 BTC.
• BitcoinBR (BTCBR) traded up 142,040,048.7% against the dollar and now trades at $0.0000 or 0.00000000 BTC.
• Lego Coin (LEGO) traded flat against the dollar and now trades at $0.0086 or 0.00000013 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 1.7% lower against the dollar and now trades at $0.0095 or 0.00000015 BTC.

Frax Profile

Frax’s genesis date was 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 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 presently possible to purchase alternative cryptocurrencies such as Frax directly using U.S. dollars. Investors seeking to acquire Frax should first purchase Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as GDAX, Gemini or Changelly. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Frax using one of the aforementioned exchanges.

FRAX/USD price chart by TradingView