Cardano (ADA) Hits Market Cap of $12.61 Billion

Cardano (ADA) traded 0.9% lower against the U.S. dollar during the 24-hour period ending at 15:00 PM ET on August 4th. One Cardano coin can now be bought for approximately $0.35 or 0.00000592 BTC on major cryptocurrency exchanges. Cardano has a market cap of $12.61 billion and approximately $316.16 million worth of Cardano was traded on exchanges in the last day. In the last seven days, Cardano has traded down 14.5% against the U.S. dollar.

Here is how similar cryptocurrencies have performed in the last day:

• Ethereum (ETH) traded 5% lower against the dollar and now trades at $2,758.05 or 0.04649482 BTC.
• Avalanche (AVAX) traded down 3.1% against the dollar and now trades at $21.90 or 0.00036916 BTC.
• NEAR Protocol (NEAR) traded 1.4% lower against the dollar and now trades at $4.24 or 0.00007144 BTC.
• Uniswap (UNI) traded down 3.8% against the dollar and now trades at $6.29 or 0.00010601 BTC.
• Internet Computer (ICP) traded down 2.5% against the dollar and now trades at $7.54 or 0.00012706 BTC.
• Cronos (CRO) traded 1.8% lower against the dollar and now trades at $0.0802 or 0.00000135 BTC.
• Hedera (HBAR) traded 0.5% lower against the dollar and now trades at $0.0563 or 0.00000095 BTC.
• Cosmos (ATOM) traded 0.2% higher against the dollar and now trades at $5.07 or 0.00008545 BTC.
• Fetch.ai (FET) traded 3.1% lower against the dollar and now trades at $0.95 or 0.00001608 BTC.
• Algorand (ALGO) traded 1.2% lower against the dollar and now trades at $0.12 or 0.00000197 BTC.

Cardano Profile

Cardano 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 37,102,998,494 coins and its circulating supply is 35,916,661,997 coins. The official message board for Cardano is medium.com/feed/cardanorss. 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. Cardano’s official website is www.cardano.org.

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 purchase alternative cryptocurrencies such as Cardano directly using US dollars. Investors seeking to acquire Cardano should first purchase Ethereum or Bitcoin using an exchange that deals in US dollars such as Coinbase, GDAX or Changelly. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Cardano using one of the aforementioned exchanges.

ADA/USD price chart by TradingView