Cardano Hits Market Cap of $14.06 Billion (ADA)

Cardano (ADA) traded up 4.5% against the dollar during the one day period ending at 19:00 PM Eastern on August 23rd. Over the last seven days, Cardano has traded up 17.9% against the dollar. One Cardano coin can currently be bought for about $0.39 or 0.00000605 BTC on cryptocurrency exchanges. Cardano has a market capitalization of $14.06 billion and $358.03 million worth of Cardano was traded on exchanges in the last day.

Here’s how similar cryptocurrencies have performed over the last day:

• Ethereum (ETH) traded up 6.2% against the dollar and now trades at $2,785.10 or 0.04310268 BTC.
• Avalanche (AVAX) traded up 7.9% against the dollar and now trades at $26.80 or 0.00041469 BTC.
• NEAR Protocol (NEAR) traded up 12% against the dollar and now trades at $4.82 or 0.00007456 BTC.
• Uniswap (UNI) traded up 2.2% against the dollar and now trades at $7.07 or 0.00010945 BTC.
• Internet Computer (ICP) traded 8.4% higher against the dollar and now trades at $8.71 or 0.00013476 BTC.
• Cronos (CRO) traded 5.7% higher against the dollar and now trades at $0.0919 or 0.00000142 BTC.
• Hedera (HBAR) traded 8.3% higher against the dollar and now trades at $0.0596 or 0.00000092 BTC.
• Cosmos (ATOM) traded 9.3% higher against the dollar and now trades at $5.13 or 0.00007932 BTC.
• Fetch.ai (FET) traded up 17% against the dollar and now trades at $1.20 or 0.00001851 BTC.
• Algorand (ALGO) traded up 6.6% against the dollar and now trades at $0.14 or 0.00000224 BTC.

Cardano Coin 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 37,157,110,715 coins and its circulating supply is 35,952,006,595 coins. Cardano’s official Twitter account is @cardano and its Facebook page is accessible here. Cardano’s official website is www.cardano.org. The Reddit community for Cardano is https://reddit.com/r/cardano and the currency’s Github account can be viewed here. Cardano’s official message board 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 Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Coinbase, Gemini or Changelly. 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