Frax Share Trading Up 9.4% This Week (FXS)

Frax Share (FXS) traded 2.5% higher against the U.S. dollar during the 1 day period ending at 22:00 PM ET on July 21st. Frax Share has a total market cap of $213.95 million and approximately $21.07 million worth of Frax Share was traded on exchanges in the last 24 hours. One Frax Share token can currently be purchased for approximately $2.65 or 0.00003888 BTC on popular cryptocurrency exchanges. In the last week, Frax Share has traded 9.4% higher against the U.S. dollar.

Here is how related cryptocurrencies have performed in the last 24 hours:

• KILT Protocol (KILT) traded down 0.1% against the dollar and now trades at $0.20 or 0.00000294 BTC.
• Aidi Finance (BSC) (AIDI) traded down 2.2% against the dollar and now trades at $0.0000 or 0.00000000 BTC.
• Zoo Token (ZOOT) traded 2.2% lower against the dollar and now trades at $0.0652 or 0.00000239 BTC.
• CareCoin (CARES) traded down 2.2% against the dollar and now trades at $0.0809 or 0.00000297 BTC.
• Kitty Inu (KITTY) traded 1.9% higher against the dollar and now trades at $95.84 or 0.00338062 BTC.
• Hokkaidu Inu (HOKK) traded up 1.2% against the dollar and now trades at $0.0004 or 0.00000001 BTC.
• Jeff in Space (JEFF) traded 2.2% lower against the dollar and now trades at $2.75 or 0.00010076 BTC.
• Lumi Credits (LUMI) traded 0.4% higher against the dollar and now trades at $0.0130 or 0.00000019 BTC.
• AXIA Coin (AXC) traded down 0.1% against the dollar and now trades at $13.43 or 0.00048094 BTC.

Frax Share Token Profile

Frax Share’s launch date was December 20th, 2020. Frax Share’s total supply is 99,681,496 tokens and its circulating supply is 80,767,896 tokens. Frax Share’s official website is frax.finance. Frax Share’s official Twitter account is @fraxfinance and its Facebook page is accessible here.

According to CryptoCompare, “The Frax Share token (FXS) is a non-stable, utility token that holds rights to governance and all utility of the Frax protocol. It has a highly governance-minimized approach to designing trustless money and eschews DAO-like active management. FXS tokens can be used for adding/adjusting collateral pools, adjusting various fees, and refreshing the rate of the collateral ratio. The FXS token has the potential for upside and downside utility of the system, and the supply is initially set to 100 million tokens at genesis. The design of the protocol is such that FXS would be largely deflationary in supply as long as FRAX demand grows.”

Buying and Selling Frax Share

It is usually not currently possible to buy alternative cryptocurrencies such as Frax Share directly using US dollars. Investors seeking to trade Frax Share should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as GDAX, Gemini or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Frax Share using one of the aforementioned exchanges.

FXS/USD price chart by TradingView