Cardano (ADA) Trading Up 7.1% This Week

Cardano (ADA) traded down 4.9% against the dollar during the 1-day period ending at 9:00 AM ET on May 22nd. During the last seven days, Cardano has traded up 7.1% against the dollar. Cardano has a market cap of $17.07 billion and $480.98 million worth of Cardano was traded on exchanges in the last 24 hours. One Cardano coin can currently be purchased for about $0.48 or 0.00000688 BTC on popular exchanges.

Here is how related cryptocurrencies have performed during the last 24 hours:

• Ethereum (ETH) traded 3.1% lower against the dollar and now trades at $3,682.12 or 0.05297264 BTC.
• Avalanche (AVAX) traded 3.5% lower against the dollar and now trades at $39.69 or 0.00057097 BTC.
• NEAR Protocol (NEAR) traded down 2.1% against the dollar and now trades at $7.91 or 0.00011375 BTC.
• Internet Computer (ICP) traded 6% lower against the dollar and now trades at $12.88 or 0.00018534 BTC.
• Uniswap (UNI) traded 3.6% lower against the dollar and now trades at $9.11 or 0.00013111 BTC.
• Hedera (HBAR) traded 2.8% lower against the dollar and now trades at $0.11 or 0.00000163 BTC.
• Cosmos (ATOM) traded 4.3% lower against the dollar and now trades at $8.52 or 0.00012264 BTC.
• Cronos (CRO) traded down 2.4% against the dollar and now trades at $0.13 or 0.00000180 BTC.
• Fetch.ai (FET) traded 0.8% higher against the dollar and now trades at $2.50 or 0.00003597 BTC.
• Algorand (ALGO) traded down 3.7% against the dollar and now trades at $0.18 or 0.00000265 BTC.

Cardano Coin Profile

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 36,897,711,935 coins and its circulating supply is 35,682,335,354 coins. Cardano’s official message board is medium.com/feed/cardanorss. Cardano’s official website is www.cardano.org. Cardano’s official Twitter account is @cardano and its Facebook page is accessible here. 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.”

Cardano Coin Trading

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

ADA/USD price chart by TradingView