Cardano Trading Down 4.9% This Week (ADA)

Cardano (ADA) traded 2.6% lower against the U.S. dollar during the 24-hour period ending at 14:00 PM Eastern on May 10th. Cardano has a total market capitalization of $15.85 billion and approximately $305.54 million worth of Cardano was traded on exchanges in the last day. During the last week, Cardano has traded down 4.9% against the U.S. dollar. One Cardano coin can currently be purchased for approximately $0.44 or 0.00000735 BTC on major cryptocurrency exchanges.

Here is how related cryptocurrencies have performed during the last day:

• Ethereum (ETH) traded 3.6% lower against the dollar and now trades at $2,895.43 or 0.04790752 BTC.
• Avalanche (AVAX) traded down 0.6% against the dollar and now trades at $34.15 or 0.00056496 BTC.
• NEAR Protocol (NEAR) traded 0.3% lower against the dollar and now trades at $7.19 or 0.00011904 BTC.
• Internet Computer (ICP) traded down 2.9% against the dollar and now trades at $11.78 or 0.00019489 BTC.
• Uniswap (UNI) traded down 3.5% against the dollar and now trades at $7.11 or 0.00011758 BTC.
• Hedera (HBAR) traded 4.2% lower against the dollar and now trades at $0.11 or 0.00000175 BTC.
• Cosmos (ATOM) traded 3% lower against the dollar and now trades at $8.71 or 0.00014408 BTC.
• Cronos (CRO) traded 1.8% lower against the dollar and now trades at $0.12 or 0.00000203 BTC.
• Fetch.ai (FET) traded 3.5% lower against the dollar and now trades at $2.15 or 0.00003560 BTC.
• Algorand (ALGO) traded 3.8% lower against the dollar and now trades at $0.18 or 0.00000303 BTC.

Cardano Profile

Cardano 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 36,869,473,182 coins and its circulating supply is 35,661,636,123 coins. 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. Cardano’s official website is www.cardano.org. Cardano’s official Twitter account is @cardano and its Facebook page is accessible 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.”

Buying and Selling Cardano

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

ADA/USD price chart by TradingView