FRAX has jointly launched a multi-currency on-chain forex liquidity pool based on frxUSD, significantly expanding its application boundaries and bridging DeFi with the traditional forex market. This initiative is expected to facilitate capital inflows and drive ecosystem expansion. Recently, the price has been fluctuating between 0.40–0.45 USDT, with evident short-term speculation. In the short term, it is recommended to monitor the 0.40 USDT support level; if the price holds above 0.45 USDT with increased volume, further upside potential can be expected. In the medium to long term, as the forex business matures and institutional demand grows, the frxUSD ecosystem is likely to continue upgrading, and the asset's value benchmark is anticipated to rise.

Frax has teamed up with Polygon Labs, Curve Finance, and DFB Network to launch a multi-currency forex liquidity pool based on frxUSD on the Polygon network, marking the first time DeFi has bridged on-chain forex and stablecoin swaps. This initiative supports instant exchanges among various fiat-pegged stablecoins, aiming to provide transparent pricing, instant settlement, and low-cost transactions, targeting the $6.6 trillion daily traditional forex market and cross-border business payment scenarios, thereby expanding frxUSD’s global use across capital flows.

Looking at the daily candlestick on April 9, the day the news was released, FRAX/USDT saw a rapid pull-back from a high of 0.4329 USDT to a low of 0.3972 USDT, with trading volume close to 200,000, significantly higher than the previous daily average, reflecting concentrated profit-taking. However, on April 10, the price quickly rebounded to around 0.45 USDT, with a single-day increase of about 10%. Trading volume at higher levels also rose above 250,000, indicating vigorous contention between bulls and bears in the 0.40–0.45 USDT range. Currently, the price fluctuates around 0.42 USDT, with short-term support at 0.40 USDT and resistance at 0.45 USDT; a breakout could lead to further upward movement.

The implementation of this forex liquidity pool signifies frxUSD’s transition from a pure DeFi internal tool to a bridge serving the real economy, enhancing overall ecosystem depth and user stickiness. Stable cross-chain forex exchange capabilities will strengthen frxUSD’s market position as a multi-currency linked asset, attracting more institutional and enterprise-level liquidity, and providing additional support for Frax’s monetary security and stability. With the expansion of on-chain forex business, frxUSD’s real demand is expected to continue growing, helping to reinforce long-term market recognition and price stability.

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FRAX price today is 0.99, with a live price change of -0.04 in the last 24 hours. Convert, buy, sell and trade FRAX on Bybit-eu.

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