$FXS jumped over 20% to $3.08 today on the back of a major protocol relaunch—transitioning from its former FXS ticker to a newly upgraded FRAX token with upgraded stability mechanisms and cross‐chain support. The rebrand reset market dynamics, driving a 250% surge in 24‐hour trading volume to $65 million and pushing market cap up to $273 million. As FRAX holders rushed to lock in the new asset ahead of next week’s governance vote on fresh collateral pools, circulating supply tightened at 88 million tokens, sparking a classic supply‐shock rally fueled by both renewed investor confidence and speculative momentum.