Cardano (ADA) Market Capitalization Hits $15.78 Billion

Cardano (ADA) traded 2.6% lower against the US dollar during the 24 hour period ending at 21:00 PM ET on May 7th. Cardano has a market capitalization of $15.78 billion and $310.65 million worth of Cardano was traded on exchanges in the last 24 hours. One Cardano coin can now be bought for about $0.44 or 0.00000706 BTC on popular cryptocurrency exchanges. During the last seven days, Cardano has traded up 0.9% against the US dollar.

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

• Ethereum (ETH) traded 1.7% lower against the dollar and now trades at $3,023.29 or 0.04827157 BTC.
• Avalanche (AVAX) traded 5.1% lower against the dollar and now trades at $35.36 or 0.00056464 BTC.
• NEAR Protocol (NEAR) traded 2.9% lower against the dollar and now trades at $7.25 or 0.00011582 BTC.
• Internet Computer (ICP) traded 3.2% lower against the dollar and now trades at $12.47 or 0.00019911 BTC.
• Uniswap (UNI) traded 2.2% lower against the dollar and now trades at $7.39 or 0.00011806 BTC.
• Hedera (HBAR) traded down 5.6% against the dollar and now trades at $0.11 or 0.00000173 BTC.
• Cosmos (ATOM) traded 2.9% lower against the dollar and now trades at $9.01 or 0.00014392 BTC.
• Cronos (CRO) traded down 2.8% against the dollar and now trades at $0.13 or 0.00000202 BTC.
• Fetch.ai (FET) traded 1.3% lower against the dollar and now trades at $2.38 or 0.00003795 BTC.
• Algorand (ALGO) traded 2.2% lower against the dollar and now trades at $0.19 or 0.00000305 BTC.

Cardano Profile

Cardano is a proof-of-stake (PoS) coin that uses the Ouroboros hashing algorithm. Its genesis date was September 1st, 2017. Cardano’s total supply is 36,855,324,087 coins and its circulating supply is 35,656,549,108 coins. The official website for Cardano is www.cardano.org. Cardano’s official Twitter account is @cardano and its Facebook page is accessible here. 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.”

Cardano Coin Trading

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

ADA/USD price chart by TradingView