Gate News Bot news, on September 4th, according to CoinMarketCap data, as of the time of writing, FRAX (Frax) is currently priced at $2.85, with a rise of 9.93% in the last 24 hours, reaching a high of $2.86 and a low of $2.47, with a 24-hour volume of $18.7 million. The current market capitalization is approximately $256 million, an increase of $23.1 million compared to yesterday.
Frax is a project dedicated to building the world's most scalable stablecoin infrastructure, serving the next generation of financial systems. Its core includes three pillars: the frxUSD stablecoin, the Fraxtal blockchain, and the Frax network. frxUSD is a secure, stable, and scalable digital dollar fully backed by institutional-grade tokenized U.S. Treasury bonds, supported by industry leaders like BlackRock and Superstate. The Fraxtal blockchain is a high-performance EVM Layer 1 blockchain designed for extreme scalability, minimal fees, and Ethereum-level security. The Frax network is a non-custodial platform for minting, redeeming, and earning a 4.1% annual yield on frxUSD.
Recent important news about FRAX:
1️⃣ Frax founder Sam Kazemian's career move
Frax Finance founder Sam Kazemian announced on August 29 that he has joined the new blockchain project Stable as Chief Technology Officer. Notably, Kazemian will also retain his position as CEO of Frax. This personnel change reflects the widespread recognition of Kazemian's expertise in the fields of stablecoins and blockchain technology.
2️⃣ Potential Synergy Between Frax and USDT Ecosystem
The Stable project that Sam Kazemian joined is a new blockchain built around Tether's USDT. This move could bring Frax closer collaboration opportunities with the USDT ecosystem, helping to expand Frax's influence and application scenarios in the stablecoin market.
3️⃣ Potential Impact of Industry Talent Mobility on Frax
The movement of core team members between different projects often brings about technical and strategic exchanges. Kazemian's new role may introduce new development ideas and collaboration opportunities for Frax, while also potentially strengthening the technical collaboration between Frax and other stablecoin projects.
From a technical perspective, the significant rise in the price of FRAX over the past 24 hours may partly reflect the market's positive reaction to this personnel change. Investors might believe that this move will enhance Frax's competitiveness and innovation capabilities. However, given the high volatility of the cryptocurrency market, such short-term price movements should still be approached with caution.
This message is not to be taken as investment advice; investors should be aware of market volatility risks.
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FRAX (Frax) rose 9.93% in the last 24 hours.
Gate News Bot news, on September 4th, according to CoinMarketCap data, as of the time of writing, FRAX (Frax) is currently priced at $2.85, with a rise of 9.93% in the last 24 hours, reaching a high of $2.86 and a low of $2.47, with a 24-hour volume of $18.7 million. The current market capitalization is approximately $256 million, an increase of $23.1 million compared to yesterday.
Frax is a project dedicated to building the world's most scalable stablecoin infrastructure, serving the next generation of financial systems. Its core includes three pillars: the frxUSD stablecoin, the Fraxtal blockchain, and the Frax network. frxUSD is a secure, stable, and scalable digital dollar fully backed by institutional-grade tokenized U.S. Treasury bonds, supported by industry leaders like BlackRock and Superstate. The Fraxtal blockchain is a high-performance EVM Layer 1 blockchain designed for extreme scalability, minimal fees, and Ethereum-level security. The Frax network is a non-custodial platform for minting, redeeming, and earning a 4.1% annual yield on frxUSD.
Recent important news about FRAX:
1️⃣ Frax founder Sam Kazemian's career move Frax Finance founder Sam Kazemian announced on August 29 that he has joined the new blockchain project Stable as Chief Technology Officer. Notably, Kazemian will also retain his position as CEO of Frax. This personnel change reflects the widespread recognition of Kazemian's expertise in the fields of stablecoins and blockchain technology.
2️⃣ Potential Synergy Between Frax and USDT Ecosystem The Stable project that Sam Kazemian joined is a new blockchain built around Tether's USDT. This move could bring Frax closer collaboration opportunities with the USDT ecosystem, helping to expand Frax's influence and application scenarios in the stablecoin market.
3️⃣ Potential Impact of Industry Talent Mobility on Frax The movement of core team members between different projects often brings about technical and strategic exchanges. Kazemian's new role may introduce new development ideas and collaboration opportunities for Frax, while also potentially strengthening the technical collaboration between Frax and other stablecoin projects.
From a technical perspective, the significant rise in the price of FRAX over the past 24 hours may partly reflect the market's positive reaction to this personnel change. Investors might believe that this move will enhance Frax's competitiveness and innovation capabilities. However, given the high volatility of the cryptocurrency market, such short-term price movements should still be approached with caution.
This message is not to be taken as investment advice; investors should be aware of market volatility risks.