Frax (FRAX) price, chart, coin profile and news

Find the latest Frax (FRAX) price, coin profile, news and history to get you started with Frax trading and investing.

Frax
FRAX- USD
$1.00
+ $0.0005 ( + 0.05%)
DEFI

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What is Frax?

The Frax protocol is the world’s first fractional algorithmic stablecoin system. It is currently implemented entirely on-chain on Ethereum, it is permission-less and open source in nature. The aim of the protocol is to enable a highly scalable, decentralised, algorithmic currency that could replace cryptocurrencies with a fixed supply like Bitcoin (BTC). The protocol has a 2-token system. The stablecoin, FRAX, and the governance token of the protocol, Frax Shares (FXS). It also runs a pool contract that holds USD Coin (USDC) as collateral. These pools can be added or removed through governance mechanisms. While FXS is a governance and utility token, FRAX is solely a currency token that is soft pegged to the US Dollar (USD). The protocol is based on an idea by American software developer Sam Kazemian, who founded Frax in 2019. The protocol basically uses 3 mechanisms for the stablecoin ecosystem: dual token, algorithmic mechanism and reserve-based mechanism.

Frax (FRAX) is the 51st largest cryptocurrency in the world by market cap, valued at $1,412,832,000. The current price of Frax is $1.41141, which is 0.087% higher than yesterday. Prices have ranged between $1.41987 and $1.40001861 over the past 24 hours. All prices are listed in Australian dollars (unless otherwise noted) and accurate as of May 23, 2022 05:05 UTC.

Disclaimer: This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

Frax (FRAX) price

Use our graph to track the performance of (FRAX) over time.

Frax at a glance

Information last updated May 23, 2022 05:05 UTC.
Coin symbol FRAX
Coin Marketcap AUD$1,412,832,000
Total FRAX supply 1,412,383,372
Circulating FRAX 1,412,383,372
Current price AUD$1.41141
All time high AUD$2.2701
All time high date February 07, 2021

Frax price performance over time

Historical prices compared with the price of $1.41141.

1 hour 0.09%
24 hours 0.09%
7 days 0.10%
14 days 0.05%
30 days -0.02%
60 days 0.25%
200 days -0.27%
1 year 0.98%

Disclaimer: Cryptocurrencies, including Frax, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of FRAX is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the Frax or any other cryptocurrency discussed.

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