Frax (CURRENCY:FRAX) traded 0.4% higher against the US dollar during the twenty-four hour period ending at 7:00 AM E.T. on October 14th. Frax has a market capitalization of $350.85 million and approximately $20.19 million worth of Frax was traded on exchanges in the last 24 hours. One Frax coin can currently be bought for $1.00 or 0.00001740 BTC on popular cryptocurrency exchanges. In the last seven days, Frax has traded up 1.1% against the US dollar.
Here’s how related cryptocurrencies have performed in the last 24 hours:
- Tether (USDT) traded 0% lower against the dollar and now trades at $1.00 or 0.00001735 BTC.
- XRP (XRP) traded 3.8% higher against the dollar and now trades at $1.13 or 0.00001960 BTC.
- Polkadot (DOT) traded 18.4% higher against the dollar and now trades at $41.29 or 0.00071603 BTC.
- SHIBA INU (SHIB) traded 1.6% higher against the dollar and now trades at $0.0000 or 0.00000000 BTC.
- Filecoin (FIL) traded up 8.7% against the dollar and now trades at $70.59 or 0.00122420 BTC.
- Internet Computer (ICP) traded up 7% against the dollar and now trades at $44.32 or 0.00076856 BTC.
- Bitcoin BEP2 (BTCB) traded 5.3% higher against the dollar and now trades at $57,723.56 or 1.00107263 BTC.
- Lido stETH (STETH) traded 5.6% higher against the dollar and now trades at $3,623.95 or 0.06284847 BTC.
- stETH (Lido) (STETH) traded up 3.2% against the dollar and now trades at $3,479.19 or 0.06807369 BTC.
- Klaytn (KLAY) traded 5.3% higher against the dollar and now trades at $1.66 or 0.00002870 BTC.
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 possible to purchase alternative cryptocurrencies such as Frax directly using U.S. dollars. Investors seeking to trade Frax should first purchase Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as GDAX, Gemini or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Frax using one of the aforementioned exchanges.
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