#42 rank
Frax

Frax frax

Frax Price in USD

$1.001

0.18%

0.001 ETH

0 BTC

Price Change

MIN

MAX

Frax Price Statistics

Current Price

$1.001

Market Volume

$1,353,643,976

Fully Diluted MarketCap

$1,353,643,976

Total Volume

9,649,783

Total Supply

1,355,965,653.371

Circulating Supply

1,355,965,653.371

Price Change 24h

$0.002
0.184%

Market Cap Change 24h

$-2,448,388.304
-0.181%

All Time Low

$0.892
11.961%

Historical Data for Frax

DateOpenHighLowCloseChange %
29 Sept 2022$1.01$1.01$1$1-0.398%
28 Sept 2022$1$1$1$10%
27 Sept 2022$0.999994$1$0.999994$10.301%
26 Sept 2022$1$1$1$10.3%
25 Sept 2022$0.998422$0.998958$0.998422$0.9989580.054%
24 Sept 2022$1$1$1$10%
23 Sept 2022$1$1$0.996988$0.996988-0.301%
22 Sept 2022$1$1$0.997909$0.997909-0.408%
21 Sept 2022$0.99969$1$0.99969$10.332%
20 Sept 2022$0.999802$1$0.999802$10.02%

FRAX Price Live Data

Frax price today is USD 1.001 and the trading volume in 24 hour is USD 9,649,783. Price change in the FRAX price in the last 24 hour is 0.002 . It has a circulating supply of 1,355,965,653.371 coins and a total supply of 1,355,965,653.371. Total market cap of the FRAX is USD 1,353,643,976 which has the movement of -0.181 in the last 24 hours

What is Frax?

Frax is the first fractional-algorithmic stablecoin. Stablecoin are a type of cryptocurrencies whose value is pegged to another fiat currency like the US Dollar. Frax is a unique stablecoin with parts of its supply backed by collateral & parts of the supply algorithmic. The ratio of the collateralized & algorithmic depends on the market's pricing of the FRAX stablecoin. If FRAX is trading at above $1, the protocol adjusts & decreases the collateral ratio. And if FRAX is trading at under $1, the protocol increases the collateral ratio. It targets a tight band around $1/coin. Frax Shares (FXS) is the governance token that accrues fees, seigniorage revenue, and excess collateral value. Frax is currently implemented on Ethereum with possible cross-chain implementations in the future

The Team Behind Frax

The Frax Protocol is the founded by an American software developer Sam Kazemian. He came up with the first idea of a fractional-algorithmic stablecoin in 2019. The founding team members of 'Frax engineers' includes Travis Moore & Jason Huan. Sam Kazemian originally devised the idea when he noticed that stablecoins were growing rapidly, but they did have any mixture of algorithmic monetary policy & collateralization. The Frax Protocol is the founded by an American software developer Sam Kazemian. He came up with the first idea of a fractional-algorithmic stablecoin in 2019. The founding team members of 'Frax engineers' includes Travis Moore & Jason Huan. Sam Kazemian originally devised the idea when he noticed that stablecoins were growing rapidly, but they did have any mixture of algorithmic monetary policy & collateralization. Projects with purely algorithmic monetary policy had failed or shut down without any significant traction. Frax was designed to measure the market’s conf… Read more

Top Value Drivers For Frax

The main reasons to invest in Frax include: Frax is different, before it, stablecoins were divided into 3 different categories: 1. Fiat collateralized, 2. Overcollateralized with cryptocurrency, and 3. Algorithmic with no collateral. Frax is the first decentralized stablecoin to classify itself as fractional-algorithmic, ushering in the 4th and most unique category. - Frax is a highly scalable, decentralized, algorithmic stablecoin that can’t be frozen or censored like Tether USDT or USDC. - You can capture the growth of the stablecoin by owning Frax Shares (FXS) which accrues fees, seigniorage revenue, and excess collateral value

FAQs

The current price of Frax is USD 1.001.

Highest and lowest price of Frax is USD 1.009 and USD 0.987 respectively.

The total supply of Frax is 1,355,965,653.371 and circulating supply of Frax is 1,355,965,653.371

The trading volume of Frax is 9,649,783 in the last 24 hours.