$FRAX The FRAX token (formerly FXS) is currently trading at approximately $1.03 USD today, January 28, 2026, and is one of the market outperformers with a 25% increase in price over the last 24 hours.

Key Insights

Token Migration Success: The recent surge was significantly driven by the successful completion of the FXS to FRAX token swap and rebranding, which major exchanges like Binance supported on January 15, 2026. This move unified the token system and improved liquidity.

Institutional Adoption: There is growing institutional interest, with entities like ATW Partners deploying significant capital into Frax's yield-bearing stablecoin, frxUSD, which is backed by U.S. Treasury assets via partnerships with firms like BlackRock.

Protocol Upgrades: The protocol continues to evolve with recent technical upgrades like the "Fraxtal FXB Upgrade" and the upcoming "North Star Fork" scheduled for April 29, 2026, which aims to enhance the network's scalability and features.

Derivatives Expansion: WEEX Exchange listed a FRAX/USDT perpetual contract on January 17, 2026, expanding accessibility for professional traders and potentially boosting demand and liquidity.

For real-time market data, you can check financial platforms like CoinMarketCap or Binance.

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