Cardano (ADA) Market Cap Reaches $12.12 Billion

Cardano (ADA) traded 2.7% lower against the US dollar during the 1 day period ending at 10:00 AM ET on October 17th. One Cardano coin can currently be bought for $0.35 or 0.00000516 BTC on popular exchanges. In the last week, Cardano has traded up 3.9% against the US dollar. Cardano has a market capitalization of $12.12 billion and $266.38 million worth of Cardano was traded on exchanges in the last day.

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

• Ethereum (ETH) traded down 0% against the dollar and now trades at $2,606.27 or 0.03883543 BTC.
• Avalanche (AVAX) traded down 0.6% against the dollar and now trades at $27.60 or 0.00041124 BTC.
• NEAR Protocol (NEAR) traded down 3.2% against the dollar and now trades at $4.76 or 0.00007093 BTC.
• Uniswap (UNI) traded down 4.5% against the dollar and now trades at $7.38 or 0.00011000 BTC.
• Internet Computer (ICP) traded down 3% against the dollar and now trades at $7.72 or 0.00011497 BTC.
• Cronos (CRO) traded 0.2% higher against the dollar and now trades at $0.0780 or 0.00000116 BTC.
• Hedera (HBAR) traded 4.9% lower against the dollar and now trades at $0.0512 or 0.00000076 BTC.
• Cosmos (ATOM) traded 2.7% lower against the dollar and now trades at $4.33 or 0.00006450 BTC.
• Fetch.ai (FET) traded 3.5% lower against the dollar and now trades at $1.38 or 0.00002060 BTC.
• Algorand (ALGO) traded down 3.6% against the dollar and now trades at $0.12 or 0.00000178 BTC.

About Cardano

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 44,995,138,227 coins and its circulating supply is 34,974,248,104 coins. Cardano’s official Twitter account is @cardano and its Facebook page is accessible here. The official website for Cardano is www.cardano.org. 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.

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 Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Changelly, Gemini or Coinbase. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Cardano using one of the exchanges listed above.

ADA/USD price chart by TradingView