Frax Share Reaches Self Reported Market Cap of $366.17 Million (FXS)

Frax Share (FXS) traded 5.6% lower against the dollar during the 24-hour period ending at 13:00 PM Eastern on April 24th. In the last week, Frax Share has traded down 1.3% against the dollar. One Frax Share token can now be purchased for approximately $4.63 or 0.00007195 BTC on popular exchanges. Frax Share has a total market capitalization of $366.17 million and approximately $18.19 million worth of Frax Share was traded on exchanges in the last day.

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

• KILT Protocol (KILT) traded down 6.4% against the dollar and now trades at $0.31 or 0.00000488 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 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.
• Kitty Inu (KITTY) traded up 1.9% against the dollar and now trades at $95.84 or 0.00338062 BTC.
• Hokkaidu Inu (HOKK) traded 1.2% higher against the dollar and now trades at $0.0004 or 0.00000001 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 0.9% higher against the dollar and now trades at $0.0089 or 0.00000014 BTC.
• AXIA Coin (AXC) traded 0.1% lower against the dollar and now trades at $13.43 or 0.00048094 BTC.

Frax Share Profile

Frax Share’s launch date was December 20th, 2020. Frax Share’s total supply is 99,681,496 tokens and its circulating supply is 79,064,479 tokens. The official website for Frax Share is frax.finance. Frax Share’s official Twitter account is @fraxfinance and its Facebook page is accessible here.

According to CryptoCompare, “The Frax Share token (FXS) is a non-stable, utility token that holds rights to governance and all utility of the Frax protocol. It has a highly governance-minimized approach to designing trustless money and eschews DAO-like active management. FXS tokens can be used for adding/adjusting collateral pools, adjusting various fees, and refreshing the rate of the collateral ratio. The FXS token has the potential for upside and downside utility of the system, and the supply is initially set to 100 million tokens at genesis. The design of the protocol is such that FXS would be largely deflationary in supply as long as FRAX demand grows.”

Buying and Selling Frax Share

It is usually not currently possible to buy alternative cryptocurrencies such as Frax Share directly using US dollars. Investors seeking to trade Frax Share should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as GDAX, Gemini or Changelly. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Frax Share using one of the exchanges listed above.

FXS/USD price chart by TradingView