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The FXS mainnet swap upgrade is imminent, the story behind the over 60% increase in 3 hours
【CoinPush】FXS experienced a significant surge in the past 3 hours, rising straight from $0.68 to a high of $1.128, currently retracing to $0.98, with a market cap of $86 million. The 3-hour increase reached 60.8%.
This volatility is driven by an important announcement. According to a notice from a leading exchange, the exchange will support the FXS Share mainnet swap, and the brand will be upgraded to Frax (FRAX). The specific plan is: the leading exchange will stop trading and delist the existing FXS spot trading pairs at 11:00 (UTC+8) on January 13, 2026; then, on January 15, 2026, at 16:00 (UTC+8), FRAX/USDT spot trading will be opened.
Such mainnet swaps and brand upgrades often attract market attention and capital flow, which also explains why FXS prices have experienced such dramatic fluctuations in a short period.