Cardano Hits Market Cap of $12.34 Billion (ADA)

Cardano (ADA) traded up 4.7% against the US dollar during the twenty-four hour period ending at 17:00 PM ET on October 11th. In the last week, Cardano has traded 0.3% higher against the US dollar. One Cardano coin can now be purchased for $0.35 or 0.00000560 BTC on exchanges. Cardano has a total market capitalization of $12.34 billion and $193.51 million worth of Cardano was traded on exchanges in the last day.

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

• Ethereum (ETH) traded 3.9% higher against the dollar and now trades at $2,456.69 or 0.03896773 BTC.
• Avalanche (AVAX) traded 7.1% higher against the dollar and now trades at $27.38 or 0.00043430 BTC.
• NEAR Protocol (NEAR) traded up 5.5% against the dollar and now trades at $4.77 or 0.00007570 BTC.
• Uniswap (UNI) traded 0.5% lower against the dollar and now trades at $7.91 or 0.00012554 BTC.
• Internet Computer (ICP) traded 2.6% higher against the dollar and now trades at $8.20 or 0.00013004 BTC.
• Cronos (CRO) traded up 3.4% against the dollar and now trades at $0.0777 or 0.00000123 BTC.
• Hedera (HBAR) traded 3.5% higher against the dollar and now trades at $0.0516 or 0.00000082 BTC.
• Cosmos (ATOM) traded 4.1% higher against the dollar and now trades at $4.28 or 0.00006794 BTC.
• Fetch.ai (FET) traded up 9% against the dollar and now trades at $1.41 or 0.00002244 BTC.
• Algorand (ALGO) traded 3.4% higher against the dollar and now trades at $0.12 or 0.00000193 BTC.

Cardano Profile

Cardano (CRYPTO: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 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 Twitter account is @cardano and its Facebook page is accessible here. Cardano’s official message board is medium.com/feed/cardanorss. The official website for Cardano 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 Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as GDAX, Changelly or Gemini. 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