Cardano (ADA) Trading Up 1.5% Over Last Week

Cardano (ADA) traded up 2.9% against the U.S. dollar during the 1 day period ending at 20:00 PM E.T. on May 8th. During the last seven days, Cardano has traded up 1.5% against the U.S. dollar. Cardano has a market capitalization of $16.17 billion and $502.40 million worth of Cardano was traded on exchanges in the last 24 hours. One Cardano coin can currently be purchased for about $0.45 or 0.00000739 BTC on cryptocurrency exchanges.

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

• Ethereum (ETH) traded 1.2% lower against the dollar and now trades at $2,978.63 or 0.04855661 BTC.
• Avalanche (AVAX) traded down 3.3% against the dollar and now trades at $34.06 or 0.00055531 BTC.
• NEAR Protocol (NEAR) traded 3.3% lower against the dollar and now trades at $6.84 or 0.00011157 BTC.
• Internet Computer (ICP) traded down 3.2% against the dollar and now trades at $12.02 or 0.00019594 BTC.
• Uniswap (UNI) traded down 0.9% against the dollar and now trades at $7.33 or 0.00011946 BTC.
• Hedera (HBAR) traded down 1.3% against the dollar and now trades at $0.11 or 0.00000173 BTC.
• Cosmos (ATOM) traded up 1.7% against the dollar and now trades at $9.09 or 0.00014824 BTC.
• Cronos (CRO) traded 0.3% lower against the dollar and now trades at $0.13 or 0.00000204 BTC.
• Fetch.ai (FET) traded down 8.1% against the dollar and now trades at $2.16 or 0.00003518 BTC.
• Algorand (ALGO) traded 1.8% lower against the dollar and now trades at $0.19 or 0.00000304 BTC.

About Cardano

Cardano (ADA) is a proof-of-stake (PoS) coin that uses the Ouroboros hashing algorithm. It launched on September 1st, 2017. Cardano’s total supply is 36,855,324,087 coins and its circulating supply is 35,659,616,513 coins. 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. Cardano’s official Twitter account is @cardano and its Facebook page is accessible here. Cardano’s official website 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.”

Cardano Coin Trading

It is usually not possible to purchase alternative cryptocurrencies such as Cardano directly using U.S. dollars. Investors seeking to trade Cardano should first purchase Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as GDAX, Coinbase or Gemini. 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