FXS – DIGIT INFO

Frax Finance Introduces Fraxchain Amidst FXS Token Sales

DIGIT — Wed, 07 Feb 2024 08:13:19 +0000

Frax Finance, established in 2020, offers FRAX, a unique stablecoin in the crypto space, along with its governance token, Frax Shares (FXS), which accrues various revenues and collateral value. Despite reaching a peak of $42.67 in April 2022, FXS has demonstrated volatility and sensitivity to market conditions. BlockTower Capital appears to be dumping $FXS! In the past 2 days, the VC sold 150,304 $FXS for 1.51M $USDC at ~$10.5, allegedly causing the price to drop ~11%. They last sold $FXS just 7hrs ago and may sell the last 91,693 $FXS ($843K) soon. Est. total profit: $961K (+69%).… https://t.co/EheQsTKN61 pic.twitter.com/deJR2w38go —

The post Frax Finance Introduces Fraxchain Amidst FXS Token Sales appeared first on The Merkle News.

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Frax Finance to retire algorithmic backing amid stablecoin crackdown

DIGIT — Thu, 23 Feb 2023 04:37:38 +0000

The vote was passed to fully collateralize Frax Finance’s native stablecoin, thus phasing out its algorithmic backing.

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2023’s Crypto Gainers: Decentraland’s MANA Token Outperforms Bitcoin With 88% Increase in One Week

DIGIT — Tue, 17 Jan 2023 15:00:15 +0000

The cryptocurrency economy is doing well during the third week of the new year, compared to the end of 2022. It is currently valued at $993.17 billion, as many digital assets have seen double-digit gains during the last two weeks. While some of the top ten cryptocurrencies, like bitcoin and ethereum, are performing well, a […]

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