Frax (FRAX) 24 Hour Trading Volume Hits $7.38 Million

Frax (FRAX) traded up 0% against the U.S. dollar during the 24-hour period ending at 8:00 AM E.T. on March 6th. Frax has a total market capitalization of $495.41 million and approximately $7.38 million worth of Frax was traded on exchanges in the last day. One Frax token can currently be bought for approximately $1.00 or 0.00001105 BTC on exchanges. During the last seven days, Frax has traded 0% higher against the U.S. dollar.

Here’s how other cryptocurrencies have performed during the last day:

• Taiko (TAIKO) traded up 0.4% against the dollar and now trades at $0.83 or 0.00000921 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 down 2.2% 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 down 2.2% against the dollar and now trades at $2.75 or 0.00010076 BTC.
• SolvBTC (SOLVBTC) traded up 0.6% against the dollar and now trades at $90,229.20 or 1.00047463 BTC.
• SolvBTC.BBN (SOLVBTC.BB) traded 0.6% higher against the dollar and now trades at $89,843.75 or 0.99620066 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 497,136,309 tokens and its circulating supply is 497,136,308 tokens. Frax’s official website 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 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 Coinbase, Gemini 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