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FRAX, the algorithmic stable currency, stays anchored around US $0.95

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It is reported that FRAX, the algorithmic stable currency, was anchored to around US $0.95. The transaction ratio of FRAX and USDT on Curve is about 0.947. Chai

FRAX, the algorithmic stable currency, stays anchored around US $0.95

It is reported that FRAX, the algorithmic stable currency, was anchored to around US $0.95. The transaction ratio of FRAX and USDT on Curve is about 0.947. Chainlink data shows that the price of FRAX is about 0.952 dollars.

The algorithmic stable currency FRAX was anchored to around US $0.95

Analysis based on this information:


The message is about the stability of FRAX, an algorithmic stablecoin, which is currently anchored around US $0.95. This means that FRAX is maintaining its value without fluctuating too much, which is a desirable feature for stablecoins. The fact that it has been able to stay so close to the US dollar is a testament to how well-designed the algorithmic stability mechanisms are.

The transaction ratio of FRAX and USDT on Curve is about 0.947, which further confirms the stability of FRAX. Curve is a decentralized exchange that specializes in stablecoins. If the ratio of FRAX and USDT on Curve were to deviate significantly from the aforementioned ratio, it would indicate that FRAX’s stability is faltering. However, the fact that it has remained so consistent shows that FRAX is being well-received by the market.

Chainlink, a decentralized oracle network, is also tracking the price of FRAX. The latest data from Chainlink shows that the price of FRAX is around 0.952 dollars. The fact that this value is so close to the price anchor of FRAX, which is US $0.95, is a good sign. It suggests that FRAX’s stability is being maintained not just on Curve but across the wider market.

Overall, the message reveals that FRAX is performing well as a stablecoin. Its ability to maintain its value close to US $0.95 is a testament to the efficacy of its algorithmic stability mechanisms. The fact that it is being well-received on Curve and that Chainlink is tracking its price also bodes well for its future. As such, investors who are looking for a stablecoin that can maintain value may want to consider adding FRAX to their portfolio.

In conclusion, the message is a positive signal for FRAX, which is demonstrating stability in a tumultuous market. Its success could encourage other stablecoins to follow in its footsteps and adopt algorithmic mechanisms to maintain stability. The three keywords that encapsulate this message are FRAX, stablecoin, and Chainlink.

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