Cardano (ADA) Market Capitalization Hits $12.27 Billion

Cardano (ADA) traded 7.9% lower against the dollar during the 24 hour period ending at 17:00 PM E.T. on October 1st. One Cardano coin can now be bought for about $0.35 or 0.00000578 BTC on major cryptocurrency exchanges. Cardano has a market cap of $12.27 billion and approximately $442.49 million worth of Cardano was traded on exchanges in the last 24 hours. In the last week, Cardano has traded down 9.2% against the dollar.

Here is how similar cryptocurrencies have performed in the last 24 hours:

• Ethereum (ETH) traded down 6% against the dollar and now trades at $2,454.06 or 0.04039620 BTC.
• Avalanche (AVAX) traded 8.6% lower against the dollar and now trades at $25.78 or 0.00042430 BTC.
• NEAR Protocol (NEAR) traded 10.4% lower against the dollar and now trades at $4.84 or 0.00007968 BTC.
• Uniswap (UNI) traded 8.5% lower against the dollar and now trades at $6.90 or 0.00011356 BTC.
• Internet Computer (ICP) traded down 10.1% against the dollar and now trades at $8.24 or 0.00013571 BTC.
• Cronos (CRO) traded down 5.9% against the dollar and now trades at $0.0794 or 0.00000131 BTC.
• Hedera (HBAR) traded down 10.8% against the dollar and now trades at $0.0527 or 0.00000087 BTC.
• Cosmos (ATOM) traded down 8.2% against the dollar and now trades at $4.44 or 0.00007312 BTC.
• Fetch.ai (FET) traded 5.5% lower against the dollar and now trades at $1.49 or 0.00002449 BTC.
• Algorand (ALGO) traded 9.4% lower against the dollar and now trades at $0.12 or 0.00000204 BTC.

About Cardano

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 44,995,142,804 coins and its circulating supply is 34,949,383,758 coins. 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 Reddit community for Cardano is https://reddit.com/r/cardano and the currency’s Github account can be viewed here. 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 buy alternative cryptocurrencies such as Cardano directly using U.S. dollars. Investors seeking to acquire Cardano should first buy Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Changelly, GDAX or Gemini. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Cardano using one of the exchanges listed above.

ADA/USD price chart by TradingView