Frax (FRAX) Price Reaches $1.00 on Exchanges

Frax (FRAX) traded 0% lower against the dollar during the 1-day period ending at 8:00 AM E.T. on March 10th. Frax has a market cap of $496.01 million and $13.28 million worth of Frax was traded on exchanges in the last 24 hours. Over the last seven days, Frax has traded up 0.2% against the dollar. One Frax token can now be purchased for $1.00 or 0.00001204 BTC on popular exchanges.

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

• Taiko (TAIKO) traded 0.9% lower against the dollar and now trades at $0.77 or 0.00000926 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 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 2.2% lower against the dollar and now trades at $2.75 or 0.00010076 BTC.
• SolvBTC (SOLVBTC) traded down 1.6% against the dollar and now trades at $83,056.69 or 1.00227488 BTC.
• SolvBTC.BBN (SOLVBTC.BB) traded down 3.3% against the dollar and now trades at $81,908.18 or 0.98841535 BTC.
• Lumi Credits (LUMI) traded 8.9% higher against the dollar and now trades at $0.0162 or 0.00000027 BTC.

Frax Token Profile

Frax’s launch date was December 20th, 2020. Frax’s total supply is 497,136,309 tokens and its circulating supply is 497,136,308 tokens. Frax’s official Twitter account is @fraxfinance and its Facebook page is accessible here. Frax’s official website 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.”

Frax Token Trading

It is usually not currently possible to buy alternative cryptocurrencies such as Frax directly using US dollars. Investors seeking to trade Frax should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as Gemini, GDAX or Changelly. 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