Cardano Reaches Market Capitalization of $11.75 Billion (ADA)

Cardano (ADA) traded 0.9% lower against the US dollar during the one day period ending at 21:00 PM ET on August 7th. Cardano has a market capitalization of $11.75 billion and approximately $347.46 million worth of Cardano was traded on exchanges in the last 24 hours. One Cardano coin can currently be bought for $0.33 or 0.00000586 BTC on cryptocurrency exchanges. Over the last seven days, Cardano has traded 15.7% lower against the US dollar.

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

• Ethereum (ETH) traded 2.7% lower against the dollar and now trades at $2,387.30 or 0.04279061 BTC.
• Avalanche (AVAX) traded 2.5% lower against the dollar and now trades at $20.18 or 0.00036175 BTC.
• NEAR Protocol (NEAR) traded 1.5% lower against the dollar and now trades at $3.60 or 0.00006444 BTC.
• Uniswap (UNI) traded up 0.2% against the dollar and now trades at $5.76 or 0.00010327 BTC.
• Internet Computer (ICP) traded down 4.5% against the dollar and now trades at $7.18 or 0.00012868 BTC.
• Cronos (CRO) traded down 2% against the dollar and now trades at $0.0784 or 0.00000141 BTC.
• Cosmos (ATOM) traded 0.4% lower against the dollar and now trades at $4.87 or 0.00008727 BTC.
• Hedera (HBAR) traded 5.4% lower against the dollar and now trades at $0.0521 or 0.00000093 BTC.
• Algorand (ALGO) traded 1.5% lower against the dollar and now trades at $0.11 or 0.00000199 BTC.
• Fetch.ai (FET) traded down 3.6% against the dollar and now trades at $0.82 or 0.00001465 BTC.

Cardano Coin 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 37,116,609,474 coins and its circulating supply is 35,925,603,981 coins. Cardano’s official Twitter account is @cardano and its Facebook page is accessible here. The official website for Cardano 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 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 Coinbase, Gemini or Changelly. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Cardano using one of the aforementioned exchanges.

ADA/USD price chart by TradingView