$FXS is trading at $3.60 with a 24-hour trading volume of $33,146,325 and a live market capitalization of $325,446,438, marking a 16.48% gain over the past 24 hours. This sharp uptick has been driven by BlackRock’s BUIDL fund being proposed as on-chain collateral for the forthcoming frxUSD stablecoin in a Securitize governance proposal—boosting institutional confidence and anticipated liquidity backing—and by a broader DeFi upswing following the Federal Reserve’s decision to hold interest rates steady, which prompted capital rotation into algorithmic stablecoin projects offering attractive yield opportunities.