Cardano Trading 8% Lower This Week (ADA)

Cardano (ADA) traded up 1.9% against the dollar during the one day period ending at 21:00 PM Eastern on September 4th. One Cardano coin can now be bought for approximately $0.32 or 0.00000557 BTC on major cryptocurrency exchanges. Cardano has a total market cap of $11.61 billion and $316.46 million worth of Cardano was traded on exchanges in the last 24 hours. Over the last week, Cardano has traded 8% lower against the dollar.

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

• Ethereum (ETH) traded 2% higher against the dollar and now trades at $2,457.12 or 0.04235651 BTC.
• Avalanche (AVAX) traded up 2.9% against the dollar and now trades at $21.94 or 0.00037815 BTC.
• NEAR Protocol (NEAR) traded up 5.6% against the dollar and now trades at $3.89 or 0.00006714 BTC.
• Uniswap (UNI) traded up 6.9% against the dollar and now trades at $6.47 or 0.00011159 BTC.
• Internet Computer (ICP) traded up 6.5% against the dollar and now trades at $7.58 or 0.00013068 BTC.
• Cronos (CRO) traded up 0.4% against the dollar and now trades at $0.0786 or 0.00000135 BTC.
• Hedera (HBAR) traded up 1.7% against the dollar and now trades at $0.0495 or 0.00000085 BTC.
• Cosmos (ATOM) traded up 0.4% against the dollar and now trades at $4.07 or 0.00007014 BTC.
• Fetch.ai (FET) traded up 1.4% against the dollar and now trades at $1.14 or 0.00001964 BTC.
• Algorand (ALGO) traded up 2.6% against the dollar and now trades at $0.12 or 0.00000210 BTC.

Cardano Coin Profile

ADA is a proof-of-stake (PoS) coin that uses the Ouroboros hashing algorithm. Its launch date was September 1st, 2017. Cardano’s total supply is 37,170,426,658 coins and its circulating supply is 35,960,643,044 coins. Cardano’s official website is www.cardano.org. Cardano’s official message board 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. Cardano’s official Twitter account is @cardano and its Facebook page is accessible 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 currently possible to buy alternative cryptocurrencies such as Cardano directly using US dollars. Investors seeking to acquire Cardano should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as Coinbase, Gemini or GDAX. 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