Frax (CURRENCY:FRAX) traded 0.1% higher against the US dollar during the 24 hour period ending at 14:00 PM Eastern on April 8th. One Frax coin can currently be purchased for about $1.00 or 0.00001739 BTC on exchanges. Frax has a market capitalization of $116.02 million and approximately $4.59 million worth of Frax was traded on exchanges in the last day. During the last week, Frax has traded up 0.2% against the US dollar.
Here’s how other cryptocurrencies have performed during the last day:
- XRP (XRP) traded 3.1% higher against the dollar and now trades at $0.99 or 0.00001711 BTC.
- Tether (USDT) traded down 0% against the dollar and now trades at $1.00 or 0.00001733 BTC.
- Polkadot (DOT) traded 2% higher against the dollar and now trades at $40.73 or 0.00070484 BTC.
- Filecoin (FIL) traded 4.3% higher against the dollar and now trades at $153.38 or 0.00265427 BTC.
- Klaytn (KLAY) traded up 3.1% against the dollar and now trades at $3.17 or 0.00005481 BTC.
- Kusama (KSM) traded up 2.6% against the dollar and now trades at $452.09 or 0.00782348 BTC.
- Bitcoin BEP2 (BTCB) traded up 1.8% against the dollar and now trades at $57,804.98 or 1.00032707 BTC.
- KnoxFS (old) (KFX) traded up 4.3% against the dollar and now trades at $19.25 or 0.00049793 BTC.
- THORChain (RUNE) traded up 8.2% against the dollar and now trades at $10.17 or 0.00017595 BTC.
- Wrapped BNB (WBNB) traded up 6.9% against the dollar and now trades at $406.18 or 0.00702894 BTC.
Frax Coin Profile
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. “
Frax Coin Trading
It is usually not possible to purchase alternative cryptocurrencies such as Frax directly using US dollars. Investors seeking to acquire Frax should first purchase Ethereum or Bitcoin using an exchange that deals in US dollars such as Gemini, Coinbase or Changelly. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Frax using one of the aforementioned exchanges.
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