Frax (FRAX) Tops 24-Hour Volume of $28.78 Million

Frax (FRAX) traded down 0.2% against the dollar during the twenty-four hour period ending at 10:00 AM ET on May 17th. Frax has a total market capitalization of $1.49 billion and approximately $28.78 million worth of Frax was traded on exchanges in the last day. One Frax coin can currently be purchased for about $1.00 or 0.00003319 BTC on exchanges. During the last seven days, Frax has traded down 0.2% against the dollar.

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

  • JUMPN (JST) traded down 25.9% against the dollar and now trades at $64.64 or 0.00181864 BTC.
  • Tether (USDT) traded 0% higher against the dollar and now trades at $1.00 or 0.00003329 BTC.
  • XRP (XRP) traded 2.9% higher against the dollar and now trades at $0.43 or 0.00001428 BTC.
  • Wrapped Cardano (WADA) traded up 2.7% against the dollar and now trades at $0.58 or 0.00001926 BTC.
  • Enegra (EGX) (EGX) traded down 0.7% against the dollar and now trades at $154.74 or 0.00515762 BTC.
  • Polkadot (DOT) traded 2% higher against the dollar and now trades at $10.82 or 0.00036078 BTC.
  • Lido stETH (STETH) traded down 0.6% against the dollar and now trades at $2,947.45 or 0.07417648 BTC.
  • PLC Ultima (PLCU) traded 5.1% higher against the dollar and now trades at $55,047.05 or 1.83471105 BTC.
  • Gateway Protocol (GWP) traded up 2.7% against the dollar and now trades at $2.63 or 0.00008754 BTC.
  • Wrapped TRON (WTRX) traded 3.1% higher against the dollar and now trades at $0.0704 or 0.00000235 BTC.

About Frax

Frax’s launch date was December 16th, 2020. Frax’s total supply is 1,497,368,940 coins. Frax’s official Twitter account is @fraxfinance and its Facebook page is accessible here. The official website for Frax is frax.finance/#welcome.

According to CryptoCompare, “Frax attempts to be the first stablecoin protocol to implement design principles of both to create a highly scalable, trustless, extremely stable, and ideologically pure on-chain money. The Frax protocol is a two token system encompassing a stablecoin, Frax (FRAX), and a governance token, Frax Shares (FXS). The protocol also has pool contracts which hold collateral (at genesis USDT and USDC). Pools can be added or removed with governance. “

Buying and Selling Frax

It is usually not presently 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 GDAX, Changelly or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Frax using one of the aforementioned exchanges.

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