Frax (FRAX) traded 0.4% higher against the US dollar during the 1-day period ending at 14:00 PM ET on May 21st. Frax has a total market capitalization of $1.42 billion and $27.87 million worth of Frax was traded on exchanges in the last 24 hours. During the last seven days, Frax has traded down 0.4% against the US dollar. One Frax coin can now be bought for approximately $1.00 or 0.00003390 BTC on popular cryptocurrency exchanges.
Here’s how related cryptocurrencies have performed during the last 24 hours:
- Bitsubishi (BITSU) traded 576.2% higher against the dollar and now trades at $3,347.80 or 0.11372590 BTC.
- Tether (USDT) traded 0% lower against the dollar and now trades at $1.00 or 0.00003393 BTC.
- JUMPN (JST) traded up 268.2% against the dollar and now trades at $0.24 or 0.00000827 BTC.
- XRP (XRP) traded up 2.9% against the dollar and now trades at $0.42 or 0.00001411 BTC.
- Wrapped Cardano (WADA) traded 4.5% higher against the dollar and now trades at $0.53 or 0.00001803 BTC.
- Enegra (EGX) (EGX) traded down 0.3% against the dollar and now trades at $148.31 or 0.00503828 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% higher against the dollar and now trades at $54,576.07 or 1.85396870 BTC.
- Polkadot (DOT) traded 4.6% higher against the dollar and now trades at $9.93 or 0.00033734 BTC.
- Gateway Protocol (GWP) traded down 0.3% against the dollar and now trades at $2.60 or 0.00008831 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 possible to buy alternative cryptocurrencies such as Frax directly using U.S. dollars. Investors seeking to trade Frax should first buy Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as GDAX, Gemini 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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