Frax Reaches Self Reported Market Capitalization of $648.05 Million (FRAX)

Frax (FRAX) traded down 0% against the dollar during the 24 hour period ending at 20:00 PM E.T. on June 16th. In the last week, Frax has traded 0% higher against the dollar. One Frax token can currently be purchased for about $1.00 or 0.00001497 BTC on exchanges. Frax has a total market capitalization of $648.05 million and approximately $7.60 million worth of Frax was traded on exchanges in the last 24 hours.

Here’s how other cryptocurrencies have performed in the last 24 hours:

  • KILT Protocol (KILT) traded 0.2% lower against the dollar and now trades at $0.23 or 0.00000338 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 1.9% higher 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.
  • 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 0.4% higher against the dollar and now trades at $0.0104 or 0.00000016 BTC.
  • AXIA Coin (AXC) traded down 0.1% against the dollar and now trades at $13.43 or 0.00048094 BTC.

Frax Token Profile

Frax was first traded on 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.”

Frax Token Trading

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

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