Cardano (ADA) Market Cap Reaches $12.06 Billion

Cardano (ADA) traded 3.8% lower against the US dollar during the 1-day period ending at 12:00 PM Eastern on October 8th. One Cardano coin can currently be purchased for about $0.35 or 0.00000554 BTC on popular cryptocurrency exchanges. Cardano has a market capitalization of $12.06 billion and $249.63 million worth of Cardano was traded on exchanges in the last 24 hours. During the last seven days, Cardano has traded down 5.6% against the US dollar.

Here’s how similar cryptocurrencies have performed during the last 24 hours:

• Ethereum (ETH) traded 1.6% lower against the dollar and now trades at $2,427.45 or 0.03894432 BTC.
• Avalanche (AVAX) traded 2.8% lower against the dollar and now trades at $26.47 or 0.00042469 BTC.
• NEAR Protocol (NEAR) traded down 6.2% against the dollar and now trades at $4.95 or 0.00007940 BTC.
• Uniswap (UNI) traded 4.6% lower against the dollar and now trades at $7.06 or 0.00011332 BTC.
• Internet Computer (ICP) traded 4.1% lower against the dollar and now trades at $8.04 or 0.00012893 BTC.
• Cronos (CRO) traded down 5.1% against the dollar and now trades at $0.0760 or 0.00000122 BTC.
• Hedera (HBAR) traded 4.4% lower against the dollar and now trades at $0.0520 or 0.00000083 BTC.
• Cosmos (ATOM) traded down 6.4% against the dollar and now trades at $4.34 or 0.00006966 BTC.
• Fetch.ai (FET) traded 6.7% lower against the dollar and now trades at $1.43 or 0.00002294 BTC.
• Algorand (ALGO) traded down 4.7% against the dollar and now trades at $0.12 or 0.00000195 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 44,995,152,754 coins and its circulating supply is 34,961,093,448 coins. 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. The official website for Cardano is www.cardano.org. The official message board for Cardano is medium.com/feed/cardanorss.

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

ADA/USD price chart by TradingView