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View ChartFrax Ether (FRXETH) is a liquid ETH staking derivative and stablecoin system launched in 2022 as part of the Frax Finance ecosystem. It is designed to maximize staking yield and simplify the Ethereum staking process, offering a secure and DeFi-native way to earn interest on ETH. The system comprises three primary components: Frax Ether (frxETH), Staked Frax Ether (sfrxETH), and the Frax ETH Minter. frxETH is a liquid ETH staking derivative that tracks ETH 1:1; the protocol defends the frxETH/ETH exchange rate within a 1% band (1.01 to 0.9900 ETH per 1 frxETH). sfrxETH is an ERC-4626-compliant vault that accrues staking yield. The total supply is 52,171 FRXETH, with a maximum supply of 52,171 FRXETH. frxETH v2 was launched in June 2023 by founder Sam Kazemian and allows users to lend and borrow ETH; v1 remains the version in which users deposit ETH to receive frxETH and stake it for sfrxETH.
Frax Finance was founded by Sam Kazemian (CEO), Travis Moore (Co-Founder and CTO), and Jason Huan (Co-Founder); the project began in May 2019 under the name Decentral Bank. Sam Kazemian and Travis Moore (along with Theodor "Ted" Forselius and Mahbod Moghadam) created Everipedia (now IQ.wiki) in December 2014; Sam and Travis remain as advisors there. Sam Kazemian launched the frxETH v2 protocol in June 2023, describing it as more efficient and decentralized than other protocols. The project is governed by Frax Improvement Proposals, such as FIP-122, which dictates ETH staking income distribution.
The Frax Ether system operates through three main components. Frax Ether (frxETH) is minted when ETH is sent to the frxETHMinter, maintaining a 1:1 representation with ETH in the system. Holding frxETH alone does not generate staking yield. Staked Frax Ether (sfrxETH) is obtained by depositing frxETH into an ERC-4626-compliant vault, which captures staking rewards from Frax ETH validators. As rewards accumulate, the exchange rate between sfrxETH and frxETH increases, allowing users to redeem more frxETH than initially deposited. The Frax ETH Minter facilitates the exchange of ETH for frxETH, spins up new validator nodes, and mints new frxETH equal to the ETH sent. The frxETHMinter mints frxETH when it receives ETH via submit() or receive(); whenever its balance exceeds 32 ETH, it passes a 32 ETH deposit plus validator credentials to the ETH 2.0 deposit contract and spins up a new validator. In frxETH v2, users can borrow validators based on their loan-to-value (LTV) ratio by posting ETH collateral (which can exceed 8 ETH); loan interest is deducted directly from the user's ETH and validator rewards.
Frax Ether distinguishes itself through its unique two-token model, where frxETH functions as an ETH-anchored asset within the Frax ecosystem rather than a dollar stablecoin, and sfrxETH is used for staking. This design leverages the Frax Finance ecosystem to maximize staking yield and smoothen the Ethereum staking process. The frxETH peg is defined as 1% on each side of the 1.00 exchange rate, meaning the protocol defends an exchange rate between 1.01 and 0.9900 ETH per 1 frxETH. Its balance sheet and peg are independent of other Frax Finance balance sheets. The system is intended for use as a replacement for WETH in smart contracts. Additionally, frxETH v2 is designed to be more efficient and decentralized than other protocols, creating a peer-to-pool lending market with no hardcoded fees or commissions. The protocol also distributes staking income per FIP-122, with 90% to sfrxETH rewards, 8% as a protocol fee, and 2% to an insurance fund.
FRXETH is primarily used as a liquid staking derivative to earn interest on ETH. It serves as an ETH-anchored asset within the Frax ecosystem, allowing users to hold a representation of ETH while participating in the Frax ecosystem. frxETH can be deposited into the sfrxETH vault to accrue staking yield, which is redeemed upon converting sfrxETH back to frxETH. It is intended for use as a replacement for WETH in smart contracts. In frxETH v1, users can pair frxETH with ETH on Curve Finance to participate in CRV mining. In frxETH v2, users can borrow validators based on their loan-to-value ratio by providing ETH as collateral, giving them the right to operate validators on Frax Finance. The token also facilitates lending and borrowing ETH within the FraxETH v2 pool.
The Frax Ether ecosystem is actively developing within the broader Frax Finance protocol, which includes a multi-chain stablecoin protocol (FRAX), liquid staking on Ethereum (frxETH), and lending markets. Subprotocols include Fraxlend, Fraxswap, and Fraxferry. The ecosystem also features FXS, the non-stable value-accrual token. In frxETH v1, users can pair frxETH with ETH on Curve Finance for CRV mining, and Frax ecosystem contracts like AMOs receive protocol fees for the benefit of FXS holders and FRAX peg backing. Total value locked and its 30-day change are shown on the live protocol page. Fraxtal is referenced in the documentation, indicating further expansion.
FRXETH is not mined; it is obtained by depositing ETH into the Frax ETH Minter, which mints an equivalent amount of frxETH. To earn staking yield, users must deposit frxETH into the sfrxETH vault, which is an ERC-4626-compliant vault that captures staking rewards generated by Frax ETH validators. The profit from validators is distributed to sfrxETH holders. sfrxETH is obtained by first approving the sfrxETH contract as a frxETH spender and then calling mint(). In frxETH v2, users can borrow validators based on their LTV ratio by providing ETH as collateral, which can exceed 8 ETH, and the interest on the loan is deducted from the user's ETH and validator rewards.
To keep your FRXETH safe, use official and reputable wallets that support Ethereum and Arbitrum networks. Always verify contract addresses before interacting with any smart contract. The official Ethereum contract address is 0x5e8422345238f34275888049021821e8e08caa1f and the Arbitrum contract address is 0x178412e79c25968a32e89b11f63b33f733770c2a. Store your tokens in a hardware wallet for enhanced security. Be cautious of phishing attempts and only use official websites such as https://frax.com/ and https://app.frax.finance/frxeth/mint. When staking, ensure you are interacting with the correct sfrxETH vault contract. Keep your private keys secure and never share them. Regularly check for updates from official Frax Finance documentation and governance proposals like FIP-122.
FRXETH and sfrxETH are exposed to market risk, and their value can fluctuate with ETH prices and broader crypto market conditions. Regulatory treatment of staking derivatives and stablecoin-like assets may change across jurisdictions and could affect access or operation. Smart contract, validator, and bridge risks on Ethereum and Arbitrum remain, and the absence of a submitted contract security audit is a factor users should weigh before interacting with the contracts.
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Thank you for your interest in BTCC. Currently, spot and futures trading services for FRXETH are not supported. As a leading digital asset platform, BTCC is committed to providing a secure and stable trading environment. We recommend completing your account registration and identity verification (KYC) to explore other premium assets and exclusive benefits available on BTCC.
As of right now, the live price of Frax Finance - Frax Ether (FRXETH) is $2,110.74. Its market price fluctuates in real time based on overall supply and demand, and you can check the updated FRXETH to USD rate at the top of BTCC’s price page. In terms of market scope, Frax Finance - Frax Ether records a 24h trading volume of $432.45K (reflecting total buying and selling activity over the last 24 hours), with a total market cap of $110.25M. Its current circulating supply stands at -- out of a maximum supply cap of 52.17K.
The price volatility of Frax Finance - Frax Ether (FRXETH) is essentially driven by market supply and demand dynamics. Key factors behind its price movements include: 1) Global macroeconomic conditions and sentiment, such as Fed interest rate decisions; 2) Tokenomics, including the ratio of circulating supply (--) to max supply (52.17K), as well as token unlocks and burn mechanisms; 3) Fundamental developments, such as ecosystem expansion, on-chain activity, and core protocol upgrades; and 4) Derivatives market dynamics, including leverage battles and liquidation cascades in perpetual contracts.
Looking at its historical price performance, Frax Finance - Frax Ether (FRXETH) hit an all-time high (ATH) of $4,908 on 2025-08-24 19:35, representing the peak of market sentiment. Conversely, its all-time low (ATL) was recorded at $1,086.96 on 2022-11-22 00:00. Note that historical highs and lows reflect past performance only and do not guarantee future price trends; investment decisions should always align with live market conditions and your personal risk tolerance.
When trading FRXETH futures on BTCC, technical chart analysis begins with identifying key support and resistance levels on 1D and 4H charts using historical price pivots. Next, apply MA/EMA indicators to gauge trend directions, alongside RSI (values above 70 indicate overbought conditions, while below 30 suggest oversold levels). Always validate breakout signals with the 24h trading volume ($432.45K), as price breakouts accompanied by strong volume offer higher reliability.
Unlike spot trading where you can only profit from rising prices, BTCC’s FRXETHUSDT perpetual contracts support two-way trading. If you anticipate a price decline for Frax Finance - Frax Ether, simply log into your BTCC account with USDT margin available, navigate to the FRXETHUSDT pair, set your desired leverage and Take-Profit/Stop-Loss levels, and click "Sell/Short". Once the price drops to your target, close your position to lock in profit from the price difference.
Yes. BTCC offers flexible, high-tier leverage options for FRXETHUSDT perpetual futures, providing up to 500x leverage (maximum leverage limits may vary depending on liquidity). While leverage boosts capital efficiency by allowing you to control larger position sizes with less margin, it also amplifies liquidation risks proportionately. BTCC strongly advises using Stop-Loss orders to strictly manage risk when trading with high leverage.
Beginners and traders testing new strategies can switch to BTCC's "Demo Trading" mode with a single click on the App or Web interface. The demo account comes pre-loaded with risk-free virtual funds (such as 100,000 USDT). Powered by live market prices (current price: $2,110.74), you can practice opening/closing positions, adjusting leverage, and setting TP/SL for FRXETHUSDT with zero financial risk.
Trading Frax Finance - Frax Ether (FRXETH) on BTCC requires just 4 simple steps: 1) Register a BTCC account and complete basic Identity Verification (KYC); 2) Buy USDT using fiat via credit card/express payment, or deposit USDT/BTC directly from an external wallet; 3) Navigate to the Futures section, search for FRXETHUSDT, and review its live price ($2,110.74) and chart; 4) Select your margin mode and leverage, choose "Buy/Long" or "Sell/Short" based on your market outlook, set TP/SL orders, and confirm your trade.
Cryptocurrency prices are subject to high market risk and price volatility. You should only invest in products that you are familiar with and where you understand the associated risks. The content expressed on this page is not intended to be and shall not be construed as an endorsement by BTCC regarding the reliability or accuracy of such content. You should carefully consider your investment experience, financial situation, investment objectives, and risk tolerance, and consult an independent financial adviser before making any investment. This material should not be construed as financial advice. Past performance is not a reliable indicator of future performance. The value of your investment can go down as well as up, and you may not get back the amount you invested. You are solely responsible for your investment decisions. BTCC is not responsible for any losses you may incur. For more information, please refer to our Terms of Use and Risk Warning. Please also note that data relating to the above-mentioned cryptocurrency presented here (such as its current live price) are based on third-party sources. They are presented to you on an “as is” basis and for informational purposes only, without representation or warranty of any kind. Links provided to third-party sites are also not under BTCC’s control. BTCC is not responsible for the reliability or accuracy of such third-party sites or their contents.
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