Cardano (ADA) Price Hits $0.31

Cardano (ADA) traded 3.8% lower against the dollar during the 1-day period ending at 15:00 PM E.T. on September 6th. Cardano has a total market cap of $11.28 billion and $308.42 million worth of Cardano was traded on exchanges in the last 24 hours. One Cardano coin can now be bought for about $0.31 or 0.00000586 BTC on cryptocurrency exchanges. In the last seven days, Cardano has traded down 10% against the dollar.

Here’s how similar cryptocurrencies have performed in the last 24 hours:

• Ethereum (ETH) traded down 7.3% against the dollar and now trades at $2,213.07 or 0.04133471 BTC.
• Avalanche (AVAX) traded down 3.3% against the dollar and now trades at $20.92 or 0.00039081 BTC.
• NEAR Protocol (NEAR) traded down 6.2% against the dollar and now trades at $3.54 or 0.00006615 BTC.
• Uniswap (UNI) traded down 3.5% against the dollar and now trades at $6.06 or 0.00011321 BTC.
• Internet Computer (ICP) traded down 5.3% against the dollar and now trades at $6.92 or 0.00012921 BTC.
• Cronos (CRO) traded 4.3% lower against the dollar and now trades at $0.0743 or 0.00000139 BTC.
• Hedera (HBAR) traded down 3.4% against the dollar and now trades at $0.0467 or 0.00000087 BTC.
• Cosmos (ATOM) traded 3.7% lower against the dollar and now trades at $3.78 or 0.00007058 BTC.
• Fetch.ai (FET) traded down 5.1% against the dollar and now trades at $1.04 or 0.00001936 BTC.
• Algorand (ALGO) traded 2.5% lower against the dollar and now trades at $0.11 or 0.00000214 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 37,170,426,658 coins and its circulating supply is 35,960,643,044 coins. 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. 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.

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 GDAX, Coinbase or Changelly. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Cardano using one of the aforementioned exchanges.

ADA/USD price chart by TradingView