Why Is FRAX’s Price Up Today?
$FRAX (FRAX), previously known as FXS, is trading around $1.23, recording a sharp 52.92% surge in the last 24 hours. The primary driver behind this rally is an exceptional spike in trading volume, which jumped 802.17% to $22.27M. Such a dramatic increase in volume typically signals strong renewed interest from traders, momentum buyers, and possibly larger participants entering the market. When price and volume rise together at this scale, it often reflects fresh capital inflows rather than low-liquidity manipulation.
Supply dynamics are also supporting the move. With 88.66M FRAX already in circulation out of a 99.68M max supply, most tokens are already unlocked, reducing fears of sudden dilution. This limited remaining supply can amplify price moves when demand rises. The volume-to-market-cap ratio of 19.21% indicates active but relatively healthy turnover, suggesting the rally is not purely overheated.
Additionally, improving sentiment around DeFi infrastructure and stablecoin-related ecosystems may be benefiting FRAX, as investors rotate toward projects with established utility. While the FDV of $125.35M implies some upside risk remains, today’s surge appears driven mainly by volume-led momentum and renewed market confidence, rather than a single isolated announcement.
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