Fractional-Algorithmic Stablecoin Protocol Frax’s Governance Token FXS Surges 80% on Supply Squeeze

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While bitcoin and the broader crypto market appear to be in stasis at press time, FXS, a governance token of a lesser-known fractional algorithmic stablecoin protocol Frax, has jumped 80% in 24-hour. You read it right; in a single day, the token has gained nearly twice more than what bitcoin has done so far this month and is now trading near $14.40, according to data provided by Messari.

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