Frax (prev. FXS) (FRAX)

5k USD Challenge Review (2/1 ~ 3/30) (1)

Conclusion: 50k -> 150k

Hello, long time no see
I'll recap what I intended to do before the $50k challenge
I think I’ll be shutting down the channel, so I’ll also provide some notice

The profit is only from turning the $50k into profit,
all trades made with the original seed are excluded
I did not engage in risky activities
So I didn’t earn a lot, but I also never incurred a loss
I only dealt with spot gaps, DEX gaps, CEX arbitrage, and exploit‑based trades
I never touched futures positions on both sides or overly large positions

In February I was heavily harassed personally and could barely trade
In March I got active again
In most cases out of the $50k I only used about $20k
I’ll only write about the most significant points and add the wallet address at the end
I used several wallets, but will list only the main one
I have now changed all exchange and wallet addresses

- End of January (Bithumb)

Bithumb set the daily withdrawal limit for most coins
very low (about $2,000 per account), and when pumping occurs on Upbit or overseas exchanges

Normally you would buy on Bithumb, transfer to an overseas exchange and sell,
creating demand for Bithumb price to align with overseas price,
but withdrawals were impossible, so Bithumb’s price remained artificially cheap

The most memorable case was FRAX; during the rebranding from FRX to FRAX,
for a relatively long period (about 1–2 weeks) Bithumb was more than 10% cheaper

At that time, those who were trading together quickly caught the opportunity,
hedged heavily when the market moved opposite or in the same direction,
opened multiple accounts on Bithumb and Upbit,
sent USDT from Gate exchange to several Bithumb accounts,
and used the per‑account limit (about $10k per day) across many accounts to withdraw quickly, generating large profits.
The tip was to keep everything in one account and then easily move it to other nominal accounts via the order book (reverse arbitrage was possible anyway).

Also, when FRAX first listed, CEXes showed absurd price gaps,
and later even sending FXS directly to Binance …

Stable × Frax × IQ are teaming up for a Galxe campaign.

Complete quests. Earn rewards. Explore AI × crypto payments.

Join now 👇

https://t.co/em5kHzw5I3

@fraxfinance @IQAICOM https://t.co/gGyVj5gsXy

Big move for @fraxfinance and Fraxtal:

@FireblocksHQ is now natively live with Fraxtal.

That means Fireblocks’ 2,400+ institutional clients can access the full network

not just $frxUSD, this is only the base

For banks, fintechs, funds, and other TradFi players, that materially lowers the friction to custody assets, move capital, trade, and build on Fraxtal through enterprise‑grade infrastructure.

Why it matters:

Fraxtal was built for efficient, low‑cost stablecoin activity.

Fireblocks is one of the key rails institutions already trust.

Put together, this could become a meaningful institutional on‑ramp for payments, treasury, RWAs, and yield strategies built around frxUSD.

If adoption follows, this could be one of the most important catalysts yet for Fraxtal’s TVL, liquidity, and onchain volume.

Bullish for $FRAX and Fraxtal? What do you think?