Frax (prev. FXS) FRAX

What FRAX actually is on-chain

Frax (prev. FXS) is an ERC-20 deployed on Ethereum, at contract address 0x3432b6a60d23ca0dfca7761b7ab56459d9c964d0. That address, not the ticker FRAX, is what uniquely identifies this asset: anyone can deploy a second token calling itself FRAX, but the contract is unforgeable. Verify it against etherscan.io before sending funds or approving a spend.

Because it lives on Ethereum, FRAX is held in any EVM-compatible wallet, transfers are paid for in ETH rather than in FRAX itself, and secondary liquidity sits in Uniswap-style AMM pools. Two consequences follow for anyone setting alerts: you need ETH in the same wallet to move the token at all, and a quoted price taken from a pool is a pool price — it includes slippage that an order-book quote would not.

Another asset tracked on this site also uses the ticker FRAX: Legacy Frax Dollar (Ethereum, 0x853d…b99e). The asset on this page is specifically the Ethereum deployment at 0x3432…64d0. These are unrelated tokens with separate contracts, separate supply and separate price histories — a price alert set on one of them says nothing about the others, and a ticker search is not enough to tell them apart.

For FRAX the project publishes a whitepaper, a public source repository and an active account as @fraxfinance. Both a written specification and readable code exist, which is a materially higher bar than most assets in this size range clear. None of it is a quality judgement about the asset; it is simply what can be independently checked before the chart is worth looking at.

Where FRAX sits in the market

Frax (prev. FXS) sits at #533, inside the top of the small-cap band. Depth here is shallow enough that one large order walks the book several percent and the print mean-reverts within the same session — which is why a single fixed price level is a fragile trigger, and a condition that tolerates one wick is the more useful construction. Listings are concentrated across a small number of venues, so volume-driven delisting is an active risk here rather than a hypothetical one.

CryptoPingAi is currently streaming 4 live FRAX order books (Binance, Gate.io, HTX, Bithumb). That is coverage in line with a #533 ranking: enough books to cross-check a quote, few enough that one of them can dominate price formation for hours at a time. One of them is a Korean won market, so the Kimchi-premium spread between the KRW and USDT quote is visible on this page.

FRAX against its all-time high

FRAX is down more than 95% from its $42.80 peak (on 2022-01-12), leaving a 170x gap to reclaim. A drawdown this deep strips the record of analytical use: the supply structure, the holder base and usually the market cycle behind that print no longer exist. For FRAX the informative reference is the downside, which makes the range section below more relevant than this one. It was set 5 years ago. A reference that old says more about the cycle it belongs to than about the asset as it trades now.

FRAX across its historical range

FRAX has traded across a 111x range, between $0.3846 and $42.80. Any volatility figure quoted for this asset depends heavily on which part of that range it is measured over.

FRAX trades within -34.6% of the all-time low of $0.3846 set on 2026-04-07. Below that mark the chart is blank — no prior trading means no support level to cite, no volume shelf and no cluster of cost basis to lean on. That low is recent, so this is an active downtrend rather than an old floor holding: each fresh low retires the previous one as a reference.

FRAX supply and valuation data

Frax (prev. FXS) sits just outside the band where circulating and total supply are independently verified, so we hold a valuation figure for FRAX but not an audited token count. What we do have is a fully diluted valuation of $49.7 million as of 2026-05-12. That places it in the top 10% by fully diluted value.

That valuation is a point-in-time snapshot, not a live figure, so we deliberately avoid dividing it back into a token count — the price has moved since, and the arithmetic would yield a precise-looking supply number that is simply wrong. Read the current supply from the project's own explorer before relying on any per-token valuation. The authoritative figure is the one etherscan.io reports for this contract.

What kind of asset FRAX is

Frax (prev. FXS) is a decentralised exchange token. The economics are unusually legible for crypto: the protocol generates fees from trading volume, and the token's value proposition rests on whether it captures any of them. Volume on the underlying venue, the fee switch status and competitive pressure from other venues are the variables that actually matter — and DEX volume is itself highly cyclical, so revenue is not a stable base.

CoinGecko files FRAX under 10 categories, including Automated Market Maker (AMM), Liquid Staking, Stablecoin Issuer, Evmos Ecosystem, Avalanche Ecosystem. CoinGecko also records deployments on Avalanche (256 tracked tokens), BNB Chain (2,027 tracked tokens), Solana (3,129 tracked tokens), so on-chain liquidity is split across several networks and the cheapest venue depends on which deployment you are trading.

How to set a Frax (prev. FXS) alert that is worth receiving

Frax (prev. FXS) is the ERC-20 at 0x3432…64d0 on Ethereum — quoted on 4 venues we stream — high dated 2022-01-12 — rank #533. On this profile the condition that carries signal is thresholds anchored to the recent range rather than to the all-time high.

Full alert-design method: thresholds, RSI/MACD and volume conditions →