Frax (CURRENCY:FRAX) traded 0.1% higher against the US dollar during the 1-day period ending at 23:00 PM ET on January 14th. Frax has a total market capitalization of $2.14 billion and $38.58 million worth of Frax was traded on exchanges in the last 24 hours. During the last seven days, Frax has traded down 0.1% against the US dollar. One Frax coin can now be bought for approximately $1.00 or 0.00002334 BTC on popular cryptocurrency exchanges.
Here’s how related cryptocurrencies have performed during the last 24 hours:
- Tether (USDT) traded 0% lower against the dollar and now trades at $1.00 or 0.00002329 BTC.
- XRP (XRP) traded 0.1% higher against the dollar and now trades at $0.77 or 0.00001800 BTC.
- Polkadot (DOT) traded up 0% against the dollar and now trades at $27.43 or 0.00063867 BTC.
- Shiba Inu (SHIB) traded up 2.6% against the dollar and now trades at $0.0000 or 0.00000000 BTC.
- Internet Computer (ICP) traded 2.8% lower against the dollar and now trades at $32.05 or 0.00074620 BTC.
- Lido stETH (STETH) traded up 1.1% against the dollar and now trades at $3,303.59 or 0.07692044 BTC.
- stETH (Lido) (STETH) traded flat against the dollar and now trades at $3,479.19 or 0.06807369 BTC.
- Bitcoin BEP2 (BTCB) traded up 0.7% against the dollar and now trades at $42,924.95 or 0.99945913 BTC.
- Toncoin (TONCOIN) traded 1.7% lower against the dollar and now trades at $3.69 or 0.00008582 BTC.
- Filecoin (FIL) traded 2.7% higher against the dollar and now trades at $29.68 or 0.00069109 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. “
Buying and Selling Frax
It is usually not presently possible to buy alternative cryptocurrencies such as Frax directly using U.S. dollars. Investors seeking to acquire Frax should first buy Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as GDAX, Coinbase or Changelly. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Frax using one of the aforementioned exchanges.
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