Frax (FRAX) Reaches One Day Trading Volume of $2.63 Million

Frax (FRAX) traded up 0% against the U.S. dollar during the twenty-four hour period ending at 8:00 AM E.T. on March 2nd. Frax has a market capitalization of $495.15 million and approximately $2.63 million worth of Frax was traded on exchanges in the last day. In the last week, Frax has traded 0.1% lower against the U.S. dollar. One Frax token can currently be bought for $1.00 or 0.00001161 BTC on popular exchanges.

Here is how similar cryptocurrencies have performed in the last day:

• Taiko (TAIKO) traded down 2% against the dollar and now trades at $0.95 or 0.00001109 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 (SOLVBTC) traded up 1.4% against the dollar and now trades at $85,651.30 or 0.99829083 BTC.
• SolvBTC.BBN (SOLVBTC.BB) traded 1.5% higher against the dollar and now trades at $85,472.63 or 0.99620840 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’s genesis 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. 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 buy alternative cryptocurrencies such as Frax directly using U.S. dollars. Investors seeking to acquire Frax should first buy Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as GDAX, Gemini or Coinbase. 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