Cardano Price Hits $0.34 (ADA)

Cardano (ADA) traded 2.2% lower against the U.S. dollar during the 1 day period ending at 20:00 PM Eastern on October 8th. One Cardano coin can now be bought for approximately $0.34 or 0.00000553 BTC on major cryptocurrency exchanges. Over the last seven days, Cardano has traded 1.9% lower against the U.S. dollar. Cardano has a total market capitalization of $12.01 billion and approximately $229.85 million worth of Cardano was traded on exchanges in the last day.

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

• Ethereum (ETH) traded up 1% against the dollar and now trades at $2,436.07 or 0.03923100 BTC.
• Avalanche (AVAX) traded 0.9% lower against the dollar and now trades at $26.35 or 0.00042435 BTC.
• NEAR Protocol (NEAR) traded 3.9% lower against the dollar and now trades at $4.88 or 0.00007853 BTC.
• Uniswap (UNI) traded down 1.3% against the dollar and now trades at $7.12 or 0.00011471 BTC.
• Internet Computer (ICP) traded 1.4% lower against the dollar and now trades at $7.96 or 0.00012812 BTC.
• Cronos (CRO) traded down 3.2% against the dollar and now trades at $0.0759 or 0.00000122 BTC.
• Hedera (HBAR) traded 0.7% lower against the dollar and now trades at $0.0521 or 0.00000084 BTC.
• Cosmos (ATOM) traded down 2.5% against the dollar and now trades at $4.34 or 0.00006984 BTC.
• Fetch.ai (FET) traded 3.4% lower against the dollar and now trades at $1.43 or 0.00002296 BTC.
• Algorand (ALGO) traded down 3% against the dollar and now trades at $0.12 or 0.00000195 BTC.

Cardano Coin Profile

Cardano (CRYPTO: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 44,995,152,754 coins and its circulating supply is 34,961,093,448 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 website is www.cardano.org. Cardano’s official message board is medium.com/feed/cardanorss. Cardano’s official Twitter account is @cardano and its Facebook page is accessible 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 currently possible to buy alternative cryptocurrencies such as Cardano directly using US dollars. Investors seeking to acquire Cardano should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as GDAX, Gemini or Coinbase. 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