Cardano (ADA) Trading Down 2.8% This Week

Cardano (ADA) traded down 3.1% against the dollar during the 24 hour period ending at 9:00 AM ET on May 5th. In the last seven days, Cardano has traded 2.8% lower against the dollar. One Cardano coin can currently be bought for about $0.46 or 0.00000716 BTC on cryptocurrency exchanges. Cardano has a total market cap of $16.27 billion and $239.54 million worth of Cardano was traded on exchanges in the last 24 hours.

Here’s how other cryptocurrencies have performed in the last 24 hours:

• Ethereum (ETH) traded down 0.6% against the dollar and now trades at $3,135.12 or 0.04921351 BTC.
• Avalanche (AVAX) traded up 1.8% against the dollar and now trades at $36.72 or 0.00057645 BTC.
• NEAR Protocol (NEAR) traded 2.9% higher against the dollar and now trades at $7.08 or 0.00011117 BTC.
• Internet Computer (ICP) traded 4.2% lower against the dollar and now trades at $12.89 or 0.00020234 BTC.
• Uniswap (UNI) traded down 2.7% against the dollar and now trades at $7.39 or 0.00011603 BTC.
• Hedera (HBAR) traded down 0.7% against the dollar and now trades at $0.11 or 0.00000170 BTC.
• Cronos (CRO) traded down 2.1% against the dollar and now trades at $0.13 or 0.00000207 BTC.
• Cosmos (ATOM) traded 1.5% higher against the dollar and now trades at $8.86 or 0.00013911 BTC.
• Fetch.ai (FET) traded up 1.6% against the dollar and now trades at $2.22 or 0.00003482 BTC.
• Algorand (ALGO) traded 0.4% higher against the dollar and now trades at $0.19 or 0.00000306 BTC.

Cardano Profile

Cardano (ADA) is a proof-of-stake (PoS) coin that uses the Ouroboros hashing algorithm. It was first traded on September 1st, 2017. Cardano’s total supply is 36,855,324,087 coins and its circulating supply is 35,652,381,076 coins. Cardano’s official Twitter account is @cardano and its Facebook page is accessible here. Cardano’s official website is www.cardano.org. The official message board for Cardano is medium.com/feed/cardanorss. The Reddit community for Cardano is https://reddit.com/r/cardano and the currency’s Github account can be viewed here.

According to CryptoCompare, “Cardano (ADA) is a Proof-of-Stake blockchain that supports smart contracts and enables the creation of decentralized apps (dApps), tokens, and more. It is designed to be scalable, sustainable, and flexible. The Cardano network uses Ouroboros, a Proof-of-Stake consensus mechanism, which allows ADA token holders to delegate their tokens to staking pools run by validators to validate transactions. Cardano was launched in 2017 by Charles Hoskinson and Jeremy Wood and is now maintained by three organizations and its community. ADA is the native token of the Cardano network and is used to pay for transaction fees and can be used for governance or to earn rewards through Proof-of-Stake consensus. The current era, Basho, focuses on scalability and network optimization, while the final era, Voltaire, will bring voting and treasury management to the network.”

Buying and Selling Cardano

It is usually not possible to buy alternative cryptocurrencies such as Cardano directly using US dollars. Investors seeking to acquire Cardano should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as Gemini, Changelly or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Cardano using one of the exchanges listed above.

ADA/USD price chart by TradingView