Cardano (ADA) Reaches Market Cap of $12.00 Billion

Cardano (ADA) traded down 3.2% against the dollar during the one day period ending at 16:00 PM Eastern on October 17th. Cardano has a market cap of $12.00 billion and approximately $286.33 million worth of Cardano was traded on exchanges in the last 24 hours. One Cardano coin can currently be bought for approximately $0.34 or 0.00000512 BTC on major cryptocurrency exchanges. In the last seven days, Cardano has traded 1.8% higher against the dollar.

Here is how related cryptocurrencies have performed in the last 24 hours:

• Ethereum (ETH) traded 0.8% lower against the dollar and now trades at $2,598.88 or 0.03879236 BTC.
• Avalanche (AVAX) traded 2% lower against the dollar and now trades at $27.23 or 0.00040641 BTC.
• NEAR Protocol (NEAR) traded 4.4% lower against the dollar and now trades at $4.74 or 0.00007071 BTC.
• Uniswap (UNI) traded 4.6% lower against the dollar and now trades at $7.31 or 0.00010918 BTC.
• Internet Computer (ICP) traded down 3.7% against the dollar and now trades at $7.63 or 0.00011384 BTC.
• Cronos (CRO) traded 1.7% lower against the dollar and now trades at $0.0776 or 0.00000116 BTC.
• Hedera (HBAR) traded 5.8% lower against the dollar and now trades at $0.0509 or 0.00000076 BTC.
• Cosmos (ATOM) traded down 3.5% against the dollar and now trades at $4.28 or 0.00006384 BTC.
• Fetch.ai (FET) traded down 5.3% against the dollar and now trades at $1.36 or 0.00002029 BTC.
• Algorand (ALGO) traded down 3.5% against the dollar and now trades at $0.12 or 0.00000177 BTC.

Cardano Coin Profile

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 44,995,138,227 coins and its circulating supply is 34,974,248,104 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 website is www.cardano.org. Cardano’s official Twitter account is @cardano and its Facebook page is accessible here. 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 possible to buy alternative cryptocurrencies such as Cardano directly using U.S. dollars. Investors seeking to trade Cardano should first buy Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Changelly, GDAX or Gemini. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Cardano using one of the aforementioned exchanges.

ADA/USD price chart by TradingView