Frax Share added 24% to its value in 24 hours: top places to buy Frax Share now

Frax Share added 24% to its value in 24 hours: top places to buy Frax Share now

By Daniela Kirova - min read

Frax Share (FXS) is the native token of Frax Protocol, the first fractional-algorithmic stablecoin system in history. It is performing splendidly, up 24% today alone.

If you want to know more details about Frax Share, if it’s worth investing in, and the top places to buy it now, you’ve come to the right place.

Top places to buy Frax Share now


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What is Frax Share?

Frax is open-source, permissionless, and entirely on-chain, currently implemented on Ethereum. The end goal of the Frax protocol is to provide a highly scalable, decentralized, algorithmic money in place of fixed-supply digital assets like BTC.

The protocol incorporates the concept of fractional algorithm. Frax is a unique stablecoin with parts of its supply backed by collateral and parts of the supply algorithmic.

The ratio of collateralized and algorithmic depends on the market's pricing of the FRAX stablecoin.

If FRAX is trading at above $1, the protocol decreases the collateral ratio. If FRAX is trading at under $1, the protocol increases the collateral ratio.

It is community governed and emphasizes a highly autonomous, algorithmic approach with no active management.

Should I buy Frax Share today?

Frax Share can be a lucrative investment, but it’s important to read at least several price predictions and take all investment advice with a grain of salt.   

Frax Share price prediction

Price Prediction forecasts the price of Frax Share will be at least $35 in 2023. The Frax Share price can reach a maximum level of $43.24 with the average price of $35.90 throughout 2023.

In 2024, they predict the price of Frax Share will be at a minimum of $49.23. It can go up to as much as $60.63. The next year, 1 FXS will trade for at least $70.00.  

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