Cardano Price Reaches $0.42 (ADA)

Cardano (ADA) traded up 1.1% against the dollar during the 24 hour period ending at 11:00 AM Eastern on June 16th. During the last week, Cardano has traded down 5.5% against the dollar. One Cardano coin can now be bought for approximately $0.42 or 0.00000624 BTC on major cryptocurrency exchanges. Cardano has a market capitalization of $14.85 billion and $185.39 million worth of Cardano was traded on exchanges in the last 24 hours.

Here’s how similar cryptocurrencies have performed during the last 24 hours:

• Ethereum (ETH) traded 0.6% higher against the dollar and now trades at $3,585.27 or 0.05384066 BTC.
• Avalanche (AVAX) traded 0.8% lower against the dollar and now trades at $30.07 or 0.00045161 BTC.
• Uniswap (UNI) traded 2.4% lower against the dollar and now trades at $11.45 or 0.00017188 BTC.
• NEAR Protocol (NEAR) traded down 0.5% against the dollar and now trades at $5.63 or 0.00008460 BTC.
• Internet Computer (ICP) traded 0.9% higher against the dollar and now trades at $9.33 or 0.00014005 BTC.
• Hedera (HBAR) traded down 0.5% against the dollar and now trades at $0.0854 or 0.00000128 BTC.
• Cosmos (ATOM) traded 0.8% higher against the dollar and now trades at $7.20 or 0.00010818 BTC.
• Cronos (CRO) traded down 3.2% against the dollar and now trades at $0.0989 or 0.00000149 BTC.
• Fetch.ai (FET) traded down 3.4% against the dollar and now trades at $1.45 or 0.00002176 BTC.
• Algorand (ALGO) traded 0.3% higher against the dollar and now trades at $0.15 or 0.00000232 BTC.

About Cardano

Cardano is a proof-of-stake (PoS) coin that uses the Ouroboros hashing algorithm. It launched on September 1st, 2017. Cardano’s total supply is 36,966,827,854 coins and its circulating supply is 35,727,650,836 coins. Cardano’s official website is www.cardano.org. The Reddit community for Cardano is https://reddit.com/r/cardano and the currency’s Github account can be viewed here. Cardano’s official Twitter account is @cardano and its Facebook page is accessible here. The official message board for Cardano is medium.com/feed/cardanorss.

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 U.S. dollars. Investors seeking to trade Cardano should first buy Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Gemini, Coinbase or Changelly. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Cardano using one of the aforementioned exchanges.

ADA/USD price chart by TradingView