Cardano Trading Down 2.5% Over Last Week (ADA)

Cardano (ADA) traded 2.3% lower against the US dollar during the twenty-four hour period ending at 21:00 PM ET on May 4th. Cardano has a total market capitalization of $16.32 billion and approximately $255.43 million worth of Cardano was traded on exchanges in the last day. One Cardano coin can currently be bought for $0.46 or 0.00000723 BTC on major cryptocurrency exchanges. In the last seven days, Cardano has traded 2.5% lower against the US dollar.

Here’s how other cryptocurrencies have performed in the last day:

• Ethereum (ETH) traded down 0.8% against the dollar and now trades at $3,093.79 or 0.04887965 BTC.
• Avalanche (AVAX) traded up 4.5% against the dollar and now trades at $37.17 or 0.00058721 BTC.
• NEAR Protocol (NEAR) traded down 1.2% against the dollar and now trades at $6.80 or 0.00010743 BTC.
• Internet Computer (ICP) traded down 3.9% against the dollar and now trades at $13.02 or 0.00020563 BTC.
• Uniswap (UNI) traded 1.5% lower against the dollar and now trades at $7.50 or 0.00011852 BTC.
• Hedera (HBAR) traded down 3.8% against the dollar and now trades at $0.11 or 0.00000169 BTC.
• Cronos (CRO) traded down 1.3% against the dollar and now trades at $0.13 or 0.00000208 BTC.
• Cosmos (ATOM) traded down 1% against the dollar and now trades at $8.70 or 0.00013749 BTC.
• Fetch.ai (FET) traded 2.2% lower against the dollar and now trades at $2.14 or 0.00003377 BTC.
• Algorand (ALGO) traded 0.8% higher against the dollar and now trades at $0.19 or 0.00000306 BTC.

Cardano 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 36,855,324,087 coins and its circulating supply is 35,652,370,867 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.”

Buying and Selling Cardano

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

ADA/USD price chart by TradingView