Cardano (ADA) Hits Market Capitalization of $12.36 Billion

Cardano (ADA) traded 2.1% higher against the U.S. dollar during the 1-day period ending at 18:00 PM ET on October 29th. One Cardano coin can currently be bought for about $0.35 or 0.00000489 BTC on major exchanges. Cardano has a market cap of $12.36 billion and $301.50 million worth of Cardano was traded on exchanges in the last day. Over the last seven days, Cardano has traded down 3% against the U.S. dollar.

Here is how related cryptocurrencies have performed over the last day:

• Ethereum (ETH) traded 2.5% higher against the dollar and now trades at $2,620.55 or 0.03628628 BTC.
• Avalanche (AVAX) traded 1.4% higher against the dollar and now trades at $26.68 or 0.00036946 BTC.
• NEAR Protocol (NEAR) traded 1.6% higher against the dollar and now trades at $4.39 or 0.00006084 BTC.
• Uniswap (UNI) traded 3.5% higher against the dollar and now trades at $7.95 or 0.00011013 BTC.
• Internet Computer (ICP) traded 3.5% higher against the dollar and now trades at $8.09 or 0.00011209 BTC.
• Cronos (CRO) traded up 3.2% against the dollar and now trades at $0.0766 or 0.00000106 BTC.
• Hedera (HBAR) traded up 0.8% against the dollar and now trades at $0.0495 or 0.00000068 BTC.
• Cosmos (ATOM) traded up 0.7% against the dollar and now trades at $4.49 or 0.00006223 BTC.
• Fetch.ai (FET) traded up 3.9% against the dollar and now trades at $1.33 or 0.00001839 BTC.
• Algorand (ALGO) traded 4.4% higher against the dollar and now trades at $0.12 or 0.00000171 BTC.

Cardano 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 44,995,214,671 coins and its circulating supply is 34,986,894,173 coins. 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. Cardano’s official message board is medium.com/feed/cardanorss. The official website for Cardano 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.”

Buying and Selling Cardano

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

ADA/USD price chart by TradingView