Cardano Reaches Market Cap of $17.56 Billion (ADA)

Cardano (ADA) traded 2.3% lower against the US dollar during the 1-day period ending at 0:00 AM Eastern on February 4th. Over the last week, Cardano has traded up 0.7% against the US dollar. One Cardano coin can currently be purchased for about $0.50 or 0.00001162 BTC on major exchanges. Cardano has a market capitalization of $17.56 billion and $239.61 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 down 0.5% against the dollar and now trades at $2,290.64 or 0.05371029 BTC.
  • Avalanche (AVAX) traded 3% lower against the dollar and now trades at $34.74 or 0.00081457 BTC.
  • Internet Computer (ICP) traded up 1.9% against the dollar and now trades at $12.83 or 0.00030087 BTC.
  • Uniswap (UNI) traded down 1.8% against the dollar and now trades at $5.98 or 0.00014019 BTC.
  • Cosmos (ATOM) traded 0.7% lower against the dollar and now trades at $8.97 or 0.00021039 BTC.
  • NEAR Protocol (NEAR) traded down 0.7% against the dollar and now trades at $2.76 or 0.00006477 BTC.
  • Hedera (HBAR) traded 0.3% lower against the dollar and now trades at $0.0684 or 0.00000160 BTC.
  • Cronos (CRO) traded 0.1% lower against the dollar and now trades at $0.0807 or 0.00000189 BTC.
  • Algorand (ALGO) traded down 2.1% against the dollar and now trades at $0.16 or 0.00000372 BTC.
  • Oasis Network (ROSE) traded down 1.5% against the dollar and now trades at $0.12 or 0.00000271 BTC.

Cardano Coin Profile

Cardano (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 36,599,737,146 coins and its circulating supply is 35,432,700,902 coins. The official website for Cardano is www.cardano.org. 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.

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 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 GDAX, Changelly or Gemini. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Cardano using one of the aforementioned exchanges.

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