SponsoredUpdated May 11, 2023, 4:41 p.m. Published Apr 4, 2022, 12:59 p.m.
3 min read
Frax Finance’s FXS governance tokens have surged nearly 80% in the past week as Terra developers introduced the “4pool” liquidity pool on stablecoin swap service Curve Finance.
Sentiment among traders increased amid increased utility for FXS tokens. These tokens accrue value from the newly minted FRAX stablecoins and fees from Frax Finance. Frax founder Sam Kazemian said in a tweet that any stablecoin that uses 4Pool for its base liquidity will get direct support from both Terra and Frax.
"My own personal goal is to make sure any project that holds FRAX is getting more than $1 of value per FRAX," Kazemian said in the tweet, suggesting added benefits in the form of rewards and platform support to platforms that use Frax.
FXS traded at $22 on Friday before the proposal was made public. Since then, it surged to as high as $44 on Sunday, before dropping to as low as $37 Monday morning as traders took profits.
FXS neared all-time highs on Sunday night. (TradingView)FXS had a market capitalization of over $2.2 billion at the time of writing. The token, however, remains nearly 10% below its January highs of $45.71.
What is the 4pool?4pool is composed of two decentralized stablecoins, UST and Frax’s FRAX, and two centralized stablecoins, USDC and USDT. It aims to increase the utility of Terra’s UST stablecoins through a partnership with Frax and Redacted Cartel, a tool for earning yields on locked tokens.
Decentralized, or algorithmic stablecoins, keep their dollar peg based on the value of assets, or a basket of assets that are provided by users, while their centralized counterparts rely on actual fiat backing held by their issuers.
“Curve Finance is more like an algorithmic savings account,” Kazemian said in another tweet. “The terms of the savings account? The A factor (aka the peg affinity of your deposits). And gamma (the new v2 pool parameter). This allows anyone to build a "term sheet for a savings account" when they create a Curve pool.”
Depositors on Curve earn annual yields of up to 4% from one of the many pools on the platform. Curve offers a highly efficient way to exchange stablecoins while maintaining low fees and low slippage, according to documents from Curve Finance.
Pools currently deployed on Curve are backed by centralized or decentralized stablecoins, wrapped tokens – such as wrapped bitcoin – or a basket of various assets. 4pool, however, will bring together UST and FRAX, the two largest decentralized stablecoins with a cumulative backing of over $19.6 billion, and USDT and USDC, the two largest centralized stablecoins, with a cumulative backing of $133 billion.
4pool will initially be tested on the Fantom and Arbitrum networks, and later on Ethereum, according to its developers, with its creators aiming to make it one of the most liquid trading pools on Curve. Curve remains the biggest decentralized finance platform on Ethereum with over $21 billion in value locked.
At the time of this writing, “tricrypto2” was the largest Ethereum-based pool on Curve by value locked, holding over $78 million worth of USDT, wrapped bitcoin and wrapped ether.
Over the last week, liquid staking cryptocurrencies have been seeing a significant upside. All of these tokens have successfully moved into the green territory, recording double-digit gains for their holders. Although these digital assets seem to be following the general crypto market uptrend, there is another factor pushing up their prices.
Why Are Liquid Staking Crypto On The Rise? Liquid staking cryptocurrencies have been receiving more attention ever since the announcement that the Ethereum “Shanghai” upgrade is likely to take place in March 2023. This upgrade is important for the network because it will mean that staked ETH will finally be withdrawable.
Anticipation around this upgrade is already on the rise and liquid staking tokens are enjoying a good portion of this attention. Their popularity comes from the fact that they allow stakers to earn a yield on staked ETH even though they can’t withdraw their ETH. It also makes it possible for stakers to have tokens on hand which they can deploy on other protocols to further participate in the ecosystem.
Liquid staking protocols reward stakers with ETH-pegged tokens such as stETH and ankrETH and make it possible for ETH users to stake without having to become validators themselves. But instead of having to rely on centralized exchanges to do this, as was previously the case, these DeFi protocols are decentralized.
ETH price crosses $1,300 ahead of Shanghai upgrade | Source: ETHUSD on TradingView.com The higher earning potential of staking with liquid staking protocols has led to more demand for them. With the Shanghai upgrade coming, it is expected that more ETH will be moved to these protocols, leading to more demand for their native cryptocurrencies.
The Largest Liquid Staking Protocols The largest liquid staking protocol in the space now is currently Lido Finance. It accounts for around 30% of the total 15 million staked ETH, making it an important contender in the space. Its native LDO token has a market cap of $1.6 billion and its price is up 57% in the last 7 days.
Lido is the largest liquid staking protocol | Source: CryptoSlate Next in line is Frax Share whose price is up 21% in the last week. The digital asset’s market cap is almost $403 million, rewarding users with frxETH for their staked ETH at an 8% APR. This is the highest APR of any liquid staking protocol.
Rocket Pool takes third place with a market cap above $260 million and is up 18% in the 7-day period. But in terms of ETH deposited, it is one of the highest, accounting for around 6.5% of the total market share.
Others include Ankr Protocol which is up 26% in 7 days, as well as Stafi, pStake Finance, and StakeWise, all of which are up 32%, 20%, and 10%, respectively, in the same time period.
Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet… Featured image from Medium, chart from TradingView.com
Updated Jan 18, 2023, 3:26 p.m. Published Jan 18, 2023, 11:56 a.m.
3 min read
(Pixabay)Decentralized-finance (DeFi) application Frax Finance is briskly gaining favor among investors because of its strong product lineup as liquid staking derivatives (LSD) heat up ahead of the Ethereum blockchain's Shanghai upgrade.
The Frax protocol is a two-token system comprising the FRAX stablecoin and a governance token called frax shares (FXS). FRAX maintains a peg to the U.S. dollar by being partly collateralized by USD coin (USDC) alongside periodic buying and selling of FXS to maintain its market capitalization.
Frax's staked ether product, which was launched in October, is attracting capital. Users deposit ether (ETH) and receive the Frax ether token (frxETH), which is backed 1:1 with ether. The frxETH token can be freely traded or staked on other DeFi applications or on Curve’s liquidity pools – where stakers are earning up to 10% annualized.
At writing time Tuesday, FrxETH holds just above $100 million, data from DefiLlama shows. That is a nearly $50 million increase since the start of January and four times the amount since November.
Frax's frxETH product has grown fourfold in the past few months. (DefiLlama)Frax is offering annualized returns of over 6% to 10% to users who stake ether on the platform. Those rewards are paid out in CRV, FRAX and FXS, depending on which liquidity pool a user stakes his tokens.
In contrast, Lido, the biggest DeFi application by total value locked, offers 5.2% yields to users.
The draw of capital into Frax’s ether pools has resulted in greater demand for FRAX and FXS tokens, with the price of FXS rising over 62% in the past week according to CoinGecko. And because some liquidity pools pay out in FXS, the price increase theoretically means higher rewards for stakers – which, in turn, could drive more ether toward Frax and even more demand for Frax’s tokens.
According to some observers, Frax’s treasury holdings of curve and convex tokens are resulting in outsized returns for some stakers.
“FRAX has an advantage over other LSD platforms at the moment due to their outsized CRV/CVX treasury holdings,” Hal Press, a partner at crypto fund North Rock Digital, said in a tweet this week. “This allows them to stimulate higher ETH staking yield on their staked ETH derivative product than the rest of the market.
“Sentiment among traders increased amid increased utility for FXS tokens. These tokens accrue value from the newly minted FRAX stablecoins and fees from Frax Finance,” Press added.
The summary of the FXS thesis is as follows. FRAX has an advantage over other LSD platforms at the moment due to their outsized CRV/CVX treasury holdings. This allows them to stimulate higher ETH staking yield on their staked ETH derivative product than the rest of the market. https://t.co/ODdkHjxq1O
— Hal Press (@NorthRockLP) January 17, 2023 Understanding CurveIt’s helpful to know how Curve works to fully understand the reason behind the high yields on Frax.
Curve offers an efficient way to exchange stablecoins while maintaining low fees and low slippage, according to Curve Finance. Pools deployed on Curve are backed by centralized or decentralized stablecoins, wrapped tokens – such as wrapped bitcoin (WBTC) – or a basket of various assets.
Depositors on Curve earn annual yields of up to 4% from one of the many pools on the platform.
High trading volumes on liquidity pools on Curve that involve Frax contributes toward the FRAX token holding its intended dollar peg. Additionally, Curve allocates CRV tokens as rewards for liquidity providers to select pools, called gauge rewards, which results in more returns for liquidity providers.
“The long-term effect of the Curve AMO is that Frax could become a large governance participant in Curve itself,” Frax’s technical documents state. Curve held over $6 billion in tokens as of Tuesday and is among the few “blue-chip” DeFi protocols.
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As became known yesterday, major cryptocurrency exchange Kraken has agreed to shut down its cryptocurrency staking services as part of a settlement with the Securities and Exchange Commission. The incident, which sparked discontent in the crypto community, for all its negativity, nevertheless proved to be a trigger for double-digit growth in a certain asset class.
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Ethereum LSD providers gain tractionThus, one of the clear beneficiaries of the news is RPL, the token for Ethereum's decentralized staking platform (ETH). Since the SEC's intention to sanction all staking-as-service providers became known, the price of RPL rose 37.5% in a matter of hours. Reaching $52 per token, RPL's price action almost allowed the asset to renew its all-time high.
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RPL to USD by CoinMarketCapAs Lookonchain reports, this performance from the Rocket Pool token was preceded by an accumulation of more than $1.5 million by large holders from late January to February. Having accumulated large positions in RPL, the whales then sent them to staking.
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Another token from Ethereum's liquid staking provider asset sector has also attracted substantive interest from some investors. This is LDO, the native token of the largest such platform. Thus, it is reported that three different whales cumulatively bought more than 400,000 LDO during and after the SEC news.
Decentralized liquid staking derivatives providers may continue to ramp up further amid sanctions against their centralized competitors. At the same time, it is worth keeping in mind the approach of Ethereum's next major update in March. Named Shanghai, the update is also expected to take effect.
Frax Finance's founder Sam Kazemian expressed support for a proposal from Ouroboros Capital that pushes for a more aggressive token buyback strategy.
Frax Share (FXS) is known for its current buyback strategy, where the project buys and burns the same amount of FXS over a predetermined timeframe, irrespective of any price fluctuations. The project has a $20 million fund for this purpose.
Ouroboros Capital, a cryptocurrency investment research firm, put forward a proposal on June 16 calling for a proactive optimization of the current token buyback strategy.
The proposal suggested a time-weighted average price (TWAP) buyback worth $1 million to be initiated when the FXS price dips below $5. If the price further slides to below $4, an additional $1 million buyback, set for a 1-month duration, is proposed to be activated. The key premise here is to purchase more FXS tokens for subsequent burning, as the price falls further.
This comes as the price of FXS — currently at $5.30 — falls toward $5, according to CoinGecko.
“I believe that the most judicious use of our revenue and capital is to buy and burn the FXS supply," Kazemian told The Block. "Especially given the low valuations in a mature ecosystem due to macro market conditions and the state of the global economy, I can’t envisage a more effective use of capital.”
Kazemian expressed agreement with the general idea of accelerating the TWAP mechanism as the price drops to $4, $3 and $2, echoing Ouroboros Capital’s suggestion. “If the price continues to fall, we should buy back more tokens more aggressively,” he added.
FXS whales influenced the market as the hype observed last week cooled down. Frax Finance’s TVL and developer activity maintained a positive outcome despite the recent slowdown. Frax Finance [FXS] is starting to experience the return of sell pressure after previously going through a bullish phase. Could this be a temporary short-term profit-taking event, or is there more to the story?
Is your portfolio green? Check out the FXS Profit Calculator
On-chain data revealed that some FXS whales were contributing to sell pressure at press time. A number of addresses holding a large amount of the Frax Finance tokens recently registered outflows totaling 1.42 million FXS tokens valued at over $8 million.
These outflows were observed towards the end of September. Moreover, most outflows went to one address, which was likely an exchange address.
Beware of $FXS selling pressure from whales!
0xd53E sold 219,674 $FXS for 773 $ETH ($1.29M) yesterday and currently has 1.03M $FXS($5.95M) left.
0x6C7d withdrew 1.42M $FXS ($8.18M) yesterday.
0xd53E and 0x6C7d appear to be the same whale, both receiving $FXS from 0x8E45. pic.twitter.com/WlyLiKbVQq
— Lookonchain (@lookonchain) September 30, 2023
The sell pressure from the whales triggered a bearish pivot for FXS, which was previously on a bullish trend. The token exchanged hands at $5.61 after a 7.6% dip from its weekly high on 27 September.
The real question now is whether the whale outflows are a sign of short-term profit-taking, or could it be an indicator that they’ve become disenfranchised with Frax Finance.
Source: TradingView There is a significant chance that the sell pressure from whales is mostly just short-term profit-taking. This is because the subsequent downside appears to have faded after the RSI reached its mid-range.
The recent retracement may also be an indicator that the hype around the recent rally is coming to an end.
Assessing Frax Finance’s on-chain data The market previously reacted positively to news that U.S. treasury bills would be integrated into the Frax V3 system. This announcement still underscores Frax’s potential long-term growth prospects.
As for its on-chain data, there was a significant spike in social dominance in the last 24 hours, likely due to the market’s reaction to whale sell pressure.
Source: Santiment In addition, daily active addresses achieved a 4-week peak on 28 September and has since slowed down. This suggested that retail demand has slowed down considerably, and this may have paved the way for sell pressure.
Meanwhile, FXS concluded September with a spike in the age consumed metric, indicating that a large number of tokens were recently moved.
How much are 1,10,100 FXS tokens worth today?
Additionally, Token Terminal revealed some interesting findings regarding Frax Finance. Fees on the protocol are down by 30.23% in the last 30 days, while daily active users dipped by 10.6% during the same period. Staked assets (annualized) dipped by 5.24.
On the other hand, the Total Value Locked gained by 5.17% to $444 million. There was also a significant growth in developer activity, as the number of core developers grew by 12.5% in the last 30 days.
(Adam Nir/Unsplash, modified by CoinDesk)Frax's governance token FXS is in stasis as the decentralized finance protocol's nascent high-yielding staking product draws millions in investor money.
Early Thursday, Frax unveiled sFRAX, an ERC4626 staking vault allowing holders of the protocol's partially collateralized fractional-algorithmic stablecoin FRAX to earn yields matching the U.S. Federal Reserve's (Fed) interest rate on reserve balances (IORB), currently around 5.4%.
The product debuted with an APY of 10%, eventually converging with the Fed's 5.4% IORB rate. So far, more than 150 users have poured in more than $35 million in the vault, according to Dune Analytics.
FXS' price rose 7% to $5.66 on Thursday, but has since pulled back to $5.49 to indicate a 0.5% gain on a 24-hour basis, CoinDesk data show. The steady price action is consistent with the continued low-volume range play among market leaders bitcoin and ether.
More than 150 users have poured $35 million in the newly launched sFRAX vault. (Dune Analytics)The new offering comes as lending protocol MakerDAO enjoys a first-mover advantage in capitalizing on high interest in the U.S. According to Parsec Finance, MakerDAO has invested over $2 billion in short-term bonds via offchain structures since February 2022, offering a 5% savings rate on DAI and buy back its MKR token.
On a year-to-date basis, MKR has gained over 168%, outshining bitcoin's 62% rise by a big margin. FXS, meanwhile, has gained only 32% this year. Some in the crypto community expect FXS to catch up with MKR.
"Impressive growth from sFRAX with $24.6M allocated to Frax Finance's FinresPBC short-term U.S. Treasuries strategy currently yielding 10%. FXS set to make a MKR catch-up trade and reignite protocol revenue with the 5.25% risk-free rate," McKenna, pseudonymous founder of Founder of Arete Research, said on X.
While a new hacking incident occurs every day in the cryptocurrency market, the last victim of hackers was the decentralized cross-chain protocol Frax Finance.
At this point, while the hackers took over the domain name belonging to Frax Finance, the users who entered the site did not realize that Frax Finance was hacked because when the users entered the site, they saw the exact same interface as the platform's interface.
Hacking, which occurs in the form of Domain Name System (DNS) hijacking, occurs when users are directed to a malicious site that is exactly similar to the original site in order to provide their credentials.
Making a statement on the subject, the Frax Finance team said:
“Please do not use the frax.finance and frax.com domains until further notice.
Name. Com reached and frax. Finance and frax. Com domains are now redirected back to their proper servers and configurations.
“Tomorrow, after conducting a comprehensive investigation, it will be revealed what led to the incident.”
Speaking to Coindesk, Frax Finance founder Sam Kazemian said, “It does not seem like we did anything wrong regarding the hacking incident. Therefore, until name.com tells us that the account is safe, it is not possible for us to say that it is safe.”
Following the hack, Frax Finance's native token FXS fell approximately 5%. With this decrease, FXS fell to $ 5.67 and is traded at $ 5.72 at the time of writing.
https://t.co/gnEI5kjDki has reached out & confirmed https://t.co/cADe5RLjqv & https://t.co/AcTF8hlzaS domains are now routed back to their proper nameservers & configuration. We’ve been told they’ll explain what led to the incident after they conduct a full investigation tomorrow https://t.co/h1eE11P5wZ
— Frax Finance (¤, ¤) 🦇🔊 (@fraxfinance) November 1, 2023
*This is not investment advice.
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Despite the ongoing correction in the crypto market, opportunities abound for investors. In the spotlight this week is Bitcoin, but the world of altcoins is equally brimming with potential.
#1 Bitcoin (BTC) – The King Of Crypto Bitcoin remains the bellwether of the crypto market, and its price action is once again expected to set the tone for the week. Grayscale’s GBTC ETF, which currently holds 566,973 BTC ($23.21B), is a key focal point. The ETF has seen outflows of approximately 52,227 BTC ($2.14 billion) since it was passed, leading to speculation about when these outflows will end.
According to the #Grayscale website, #Grayscale currently holds 566,973 $BTC($23.21B), decreasing ~52,227 $BTC ($2.14B) since the ETF was passed.
Crypto analyst Ignas | DeFi Research pointed out the psychological impact of Grayscale’s continuous selling: “Grayscale’s continuous dumping every working day gave the market trauma. Now, everyone expects another BTC transfer from GBTC to Coinbase and BTC dumped in advance. A massive rebound awaits when that anticipated morning transfer never happens.”
Thus, the spot Bitcoin ETF flows in general (how can the “newborn nine” absorb the GBTC outflows) and the GBTC outflows particular will be key data points, which will determine the price trend this week. At press time, BTC was falling towards the 6-week low at $40,270.
BTC price drops below $41,000, 4-hour chart | Source: BTCUSD on TradingView.com #2 Dogecoin (DOGE) The creation of the X Payments account on the X platform (formerly Twitter) has ignited speculation about the inclusion of Dogecoin in the project. This speculation led to a 23% surge in DOGE’s price within just 5 hours on Saturday. Although the gains were partially reversed, this incident underscores the importance of following X Payments closely.
X Payments is part of X’s plan to launch its payment service, and the account already boasts over 100,000 followers, including prominent figures in the crypto community. DOGE is a strong contender for inclusion due to Elon Musk’s association with both X and his fondness for the meme coin. Investors are eagerly awaiting any substantial announcements from X Payments, as they could significantly impact DOGE’s price.
#3 Render (RNDR) The launch of Apple Vision Pro on February 2nd is poised to have a profound impact on the Render (RNDR) network. During the announcement of Apple Vision Pro last year, RNDR experienced a substantial price surge. The distributed computing sector, including RNDR, is expected to benefit significantly from Apple Vision’s launch.
Speculation surrounds a potential partnership between Apple and the crypto company behind RNDR, OTOY. OTOY is closely associated with both the RNDR token and Octane, a product linked to RNDR. The CEO of OTOY, Jules Urbach, has connections to both products, fueling rumors of collaboration.
Apple’s mention of RNDR during its WWDC 2023 event further supports the notion of a possible collaboration.
#4 Chiliz (CHZ) Chiliz (CHZ) has piqued the interest of investors with the promise of new tokenomics. CEO Alexandre Dreyfus has hinted at a revamped tokenomics model, including a burn system, subsidization of staking rewards, and external consultation. Dreyfus stated, “Farming and earning CHZ on the Chiliz network is coming soon to your screens (and wallets).”
Farming and earning $CHZ on the @chiliz network is coming soon to your screens (and wallets).#SportFi #Tokenomics https://t.co/JJXJz00xwP pic.twitter.com/KlsBvaQNkV
— Alexandre Dreyfus (@alex_dreyfus) January 20, 2024
Additionally, the PEPPER airdrop is generating excitement within the CHZ community. This airdrop involves growing CHZ on the Chiliz blockchain to receive daily PEPPER rewards from the greenhouse. Dreyfus has actively engaged with the community on social media, encouraging users to follow @PepperChain for early access to the PEPPER meme airdrop.
#5 Frax Share (FXS) Frax Share (FXS) is making headlines with the upcoming launch of SfrxETH on EigenLayer, scheduled for January 29th. SfrxETH is the native ETH LSD token of the Frax protocol and has experienced significant growth. Fraxtal, Frax’s Layer-2 blockchain, is also set to launch in the first week of February.
With a TVL of over $1 billion and a market capitalization of $685 million, FXS is set to attract the attention of the crypto community. CEO and founder Sam Kazemian, aims to roll out Fraxtal as a significant addition to its existing product suite. Several projects, including Curve, have proposed deploying their functionalities on Fraxtal, which utilizes rollups technology to execute transactions efficiently.
In a recent interview, he expressed high expectations for Fraxtal’s performance, predicting substantial TVL and market capitalization growth in the coming months. “The current timeline is the first week of February. Etherscan will support it on day 1 with Fraxscan, and a huge slew of projects will debut soon after launch. It will surely be one of the biggest rollup releases of the year,” Kazemian remarked.
He added, “We expect at least a 9-figure total value locked in the first month and $1 billion plus for Q1. That should put us in the top 5 chains soon thereafter if our innovations are well received.”
Featured image from iStock, chart from TradingView.com
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Frax Share (FXS) is the first tiered algorithmic stablecoin protocol. It is open-source, entirely on-chain, and implemented on Ethereum. The aim of the Frax protocol is to provide a scalable, decentralized, and algorithmic currency as an alternative to fixed-supply digital assets like Bitcoin.
Frax Share Coin represents a new paradigm in stablecoin design. It uniquely combines established concepts within its protocol:
Tiered Algorithm: FXS Coin is the first and only stablecoin whose supply is supported by a collateral and supply algorithm. The collateral and algorithmic rate allows the market to price Frax Share. If the FXS Coin trades above one dollar, the protocol lowers the collateral rate, while if it trades below one dollar, the protocol increases the collateral rate.Decentralized or Minimized Control Mechanism: Frax Share (FXS) is managed by the community. The control mechanism is minimized, emphasizing an algorithmic structure.On-chain Oracles: Frax v1 utilizes Uniswap and Chainlink oracles.Swap-Based Monetary Policy: FXS employs principles of automated market makers like Uniswap to create real-time stabilization through swap-based price discovery and arbitrage.Frax Share is an algorithmically steered global currency. FXS has a mechanism that eliminates the need for a central bank. Users can buy and sell Frax worldwide without fear of privacy breaches, regulatory interventions, and price manipulations.
Where to Buy FXS Coin?FXS Coin can be securely purchased and sold on Binance, the world’s largest cryptocurrency exchange by trading volume. FXS Coin is traded on the Binance interface in FXS/BTC and FXS/BUSD pairs.
To purchase Frax Share Coin, one must first register on the Binance exchange and send fiat or cryptocurrency to the account wallet. Then, Bitcoin or BUSD must be purchased with the deposited cryptocurrency or fiat currency. Following this transaction, an order can be placed in the order book by selecting one of the FXS/BTC or FXS/BUSD trading pairs and specifying the amount. As of this writing, FXS is trading at approximately $5.46.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
The cryptocurrency market can be a rollercoaster. Some coins shoot for the stars, while others fizzle out. Investors constantly look for the next big thing, especially during presales, when they can get in on the ground floor. But beware: Coins like Dogecoin and Frax Share have faced significant challenges recently, with steep price drops and uncertain futures. Amidst all this, one project catching a lot of attention in the 2024 presale scene is MoonBag Coin: the best crypto coin presale. Unlike some cryptocurrencies that tax your earnings, MoonBag boasts tax-free profits, a major perk for anyone looking to keep more of their gains. MoonBag also has what they call innovative tokenomics, a fancy way of saying the structure of the coin is designed to benefit investors.
So, is MoonBag the perfect fit for you? Let’s figure it out!
Frax Share’s Struggles and What It Means for Investors Table of Contents
Frax Share’s Struggles and What It Means for InvestorsIs Dogecoin Losing Its Appeal?MoonBag’s Best Crypto Coin Presale: The 2024 Crypto Jackpot Everyone’s Talking AboutLooking to Buy $MBAG Coins?Conclusion- Make The Right Choice With MoonBagInvest in MoonBag Presale Frax Share has faced significant struggles, particularly following the Terra crash in May. Despite its innovative approach as a fractional-algorithmic stablecoin, the governance token FXS experienced a severe price drop, plummeting from its all-time high of $42.67 in April to below $4 by mid-June.
Although it has shown some recovery since then, its volatility remains a major concern. In contrast, MoonBag offers a more promising option with its stable presale benefits and robust financial incentives, making it an appealing alternative for investors.
Is Dogecoin Losing Its Appeal? Recent updates on Dogecoin have been less than encouraging for investors. Although it remains popular, Dogecoin is facing challenges as its momentum wanes. Analysts point out that while other meme coins are seeing notable gains, Dogecoin’s performance has been lacklustre. The price of Dogecoin has fallen over 40% from its peak this year, and it has struggled to recover. Dogecoin might seem risky if you’re considering where to invest your money. For those looking for an alternative with substantial potential, keep reading to discover what’s next!
MoonBag’s Best Crypto Coin Presale: The 2024 Crypto Jackpot Everyone’s Talking About MoonBag (MBAG) is quickly becoming a favourite among crypto investors due to its structured presale and attractive financial incentives. Notably, the project offers an 88% annual percentage yield (APY) for staking MBAG coins, which can significantly boost returns. For instance, staking 10,000 MBAG coins could earn an additional 8,800 coins over six months. MoonBag’s referral program also benefits referrers and new investors, encouraging community growth with appealing bonuses.
Early investors are in line for impressive returns; a $5 investment in the presale could grow to $100,000 by stage 7. Even if you join at stage 7 with a price of $0.0005 per MBAG, you could see a 300% return, with projections suggesting that a $10,000 investment could rise to $40,000 by the end of the presale. With MBAG’s expected listing price of $0.003, stage 7 investors could achieve up to a 500% ROI, turning a $10,000 investment into $60,000. That’s some big numbers. Don’t miss out—join the MoonBag presale now!
Looking to Buy $MBAG Coins? Here’s how you can get started:
Set up a wallet like MetaMask or Trust Wallet. Fund it with your chosen cryptocurrency. Visit the MoonBag website. Select the number of MBAG coins you want to buy. Watch as the coins are delivered to your wallet. Conclusion- Make The Right Choice With MoonBag While Dogecoin and Frax Share have strengths and unique attributes, MoonBag crypto has exceptional presale benefits and attractive features. Its innovative approach has captured significant market interest, with analysts predicting substantial growth by the end of the presale. Don’t miss the opportunity—join the best crypto coin presale now and start seeing impressive returns.
Disclaimer: This is a Press Release provided by a third party who is responsible for the content. Please conduct your own research before taking any action based on the content.
The cryptocurrency market’s volatility can be a big turn-off for potential investors. However, joining the best crypto presales might provide a safer entry point for those new to the space. When looking at options like Maker, Frax Share, and MoonBag, it’s important to understand what makes each unique. Maker is well-known for its DAI stablecoin, which offers some stability. Frax Share uses algorithmic and collateralized methods to achieve scalable stability. However experts suggest that the MoonBag coin is the best choice in the meme coin presale category. MoonBag stands out because of its innovative ideas, strong community support, and clear development plan. Joining a presale can allow investors to enter the cryptocurrency market with lower risk.
Frax Share’s Market Performance and Adoption Table of Contents
Frax Share’s Market Performance and AdoptionMAKER Coin: Powering DeFi and Stabilising DAIBest Crypto Presale to Buy: MoonBag – High-Yield Investment with Locked SecurityEarning with MoonBag’s Staking ProgrammeConclusionInvest in MoonBag Presale Frax Share is a unique cryptocurrency designed to stabilise the volatile crypto market through its fractional algorithmic stablecoin system. Still, it has faced significant challenges in gaining widespread adoption and investor interest. Despite its innovative approach, Frax Share’s market performance has been steady but slow, with cautious investors wary of its complex algorithmic system.
The active community engagement efforts, including social media campaigns and events, have met with limited success, lacking the widespread excitement seen in other crypto projects. While the development team remains committed to improving the system and introducing new features, Frax Share has a long way to go before it can match the excitement generated by MoonBag’s top meme coin presale.
MAKER Coin: Powering DeFi and Stabilising DAI MAKER Coin (MKR) is the governance token for the MAKER Protocol, a key player in Decentralised Finance (DeFi) on Ethereum. MKR enables holders to vote on protocol changes and helps stabilise the DAI stablecoin, pegged to the U.S. dollar. It supports decentralised lending, allowing users to borrow DAI with collateral, making the MAKER Protocol a major DeFi platform. MKR’s ERC-20 standard allows integration with other Ethereum-based projects. Co-founded by Rune Christensen and Nikolai Mushegian in 2015, the project has shown resilience in the volatile crypto market. Its future depends on regulatory changes, market trends, technology, and adoption, with strong prospects due to its role in DeFi and ongoing blockchain development.
Best Crypto Presale to Buy: MoonBag – High-Yield Investment with Locked Security MoonBag Crypto’s presale has become popular among investors, especially those facing losses in other cryptocurrencies. The project’s presale is the best crypto presale to buy in 2024, successfully raising over $3.9 million to date. In its seventh stage, MoonBag offers investors the chance to acquire 2,000 MBAG coins for just 1 USDT.
It’s important to note that the price of MBAG coins increases with each subsequent presale stage. Early investors who seize this opportunity benefit from potentially higher returns as the project progresses. MoonBag’s vision is to democratise access to cryptocurrency wealth, making it attainable for a wider audience.
Earning with MoonBag’s Staking Programme MoonBag’s staking program introduces an appealing feature for investors. Early purchasers of MoonBag coins can now stake them to earn a remarkable 88% annual percentage yield (APY). This high yield distinguishes MoonBag’s staking program in the competitive crypto market, offering extra motivation for early investors to participate and retain their coins for the long term.
Conclusion In conclusion, while the cryptocurrency market’s volatility can be daunting, engaging in the best crypto presales offers a promising entry point for new investors. Maker and Frax Share present unique strengths in the DeFi space and algorithmic stability, respectively, but MoonBag shines brightly as the best crypto presale to buy. With its innovative approach, strong community backing, and clear development plan, MoonBag stands out as the best presale opportunity, particularly for those interested in meme coins.
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Frax Finance laid out its vision of becoming the decentralized central bank of crypto in its 2025 Vision Roadmap. Frax announced its plans to develop a tech stack to deploy AI agents on blockchain. While the broader crypto industry is awaiting a bull run at a larger scale in 2025, several crypto projects are focusing on their growth and development. Frax Finance has also laid out some of its initiatives for 2025 such as token upgrades, hard fork, growth in DeFi adoption, and AI agents deployment.
Frax Finance is a decentralized stablecoin cryptocurrency protocol consisting of FRAX, FPI, and frxETH stablecoins. While FRAX is a stablecoin pegged to the US dollar, FPI is pegged to a consumer goods basket, and frxETH is a stablecoin pegged to ETH. Apart from stablecoins, the platform also offers several DeFi services like a lending market, an AMM, and a cross-chain transfer protocol.
Initiatives of Frax Finance 2025 Vision Roadmap As part of its 2025 Vision Roadmap, Frax Finance aims to become a decentralized central bank of crypto. Some of its key initiatives include Frax token upgrades, Fraxtal North Star Hard Fork, Frax Universal Interface (FUI) Redesign, and AI Integration.
The FRAX stablecoin is going to be rebranded to frxUSD and offers direct fiat redemption and integration with the US financial systems. On the other hand, FRAX is going to be a symbol for Frax Shares, which is currently FXS. Additionally, the governance token Frax Shares will also be used for gas and staking on its Fraxtal layer 2 blockchain.
The Fraxtal North Star Hard Fork is also a significant part of the 2025 Vision. It will enable ultra-fact block processing time and supports applications on its layer 2 with high throughput. Apart from this, the interface is also going to be redesigned with intuitive tools and advanced onramping.
Frax Finance Focuses on AI Agents Development Among its other key initiatives, Frax Finance is also developing the AIVM parallelized blockchain. Being powered by a new Proof-of-Inference consensus system, its tech stack enables AI agents development and deployment on blockchain. They aim to develop on-of-its-kind and world’s first autonomous and sovereign AI agent without being controlled by anyone.
The focus on AI agent development and innovation has been increasing lately in the industry. A couple of days ago, DWF Labs announced a $20 million fund to support Web3 projects focusing on AI agent innovation and development. Thus, Frax Finance might be eligible for this fund with its new 2025 vision to deploy AI agents on blockchain.
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Manisha is a proficient content writer with a keen eye for blockchain, NFTs, and fintech trends. With a passion for breaking down complex topics, she delivers insightful and engaging content for the Web3 community. Her expertise spans emerging market trends, latest news, and industry developments.
Frax Share token FXS price increased by around 30% today after BlackRock BUIDL’s support to Frax USD stablecoin. Securitize proposed a Frax improvement proposal to back Frax USD with BUIDL as a collateral. Even though major cryptocurrencies have not recorded any significant price rises, some cryptocurrencies are performing well today. Frax Share (FXS) price witnessed a huge price hike and went to as high as $3.52 with a 680% increase in its trading volume. After a complete week of downward price movement, FXS price finally picked with the news of BlackRock’s support to Frax USD stablecoin.
Frax Shares token FXS is trading at around $3.22 at the press time with a 26% surge in the last 24 hours. However, It witnessed a substantial price surge of over 45% earlier today and went to the highs of $3.52 from the lows of $2.5. Its market cap also witnessed around 30% rise and is hovering around $275.5 million, while daily trading volume is $154.7 million with a 685% surge.
The price surge of FXS put a break on its week-long downward price movement. When the news of Securitize proposing to back Frax USD stablecoin with BlackRock’s BUIDL circulated, it immediately had an impact on FXS price.
FXS price surges as Securitize Proposes BlackRock’s BUIDL as a Collateral for Frax USD A brokerage firm Securitize proposed BlackRock’s BUIDL fund to act as a collateral for Frax USD stablecoin. BUIDL or BlackRock US Dollar Institutional Digital Liquidity Fund will back Frax USD, acting as a collateral reserve asset. This way, it offers deeper liquidity, transfer options, yield opportunities, and reduced counter-party risks.
Having one of the largest asset management firm BlackRock’s support, Frax USD stablecoin would benefit in several ways. Even though Frax Finance is considering the proposal, it is still subject to community vote and needs approval from Frax DAO.
Frax Finance comes up with several major developments on infrastructure level. It is developing a technological stack to deploy AI agents on blockchain, as a part of its 2025 vision roadmap. It even plans to become the decentralized central back of crypto.
The collateral backing proposal from a top organization such as BlackRock came at the right time as Frax Finance plans to rebrand its frxUSD stablecoin. If the Securitize proposal gets approval from the Frax DAO and contributes to the success of Frax USD stablecoin, we can see more price surges of FXS token in the new year.
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Manisha is a proficient content writer with a keen eye for blockchain, NFTs, and fintech trends. With a passion for breaking down complex topics, she delivers insightful and engaging content for the Web3 community. Her expertise spans emerging market trends, latest news, and industry developments.
