Cardano Hits 24 Hour Trading Volume of $352.93 Million (ADA)

Cardano (ADA) traded 1.4% lower against the US dollar during the 1-day period ending at 21:00 PM E.T. on May 6th. One Cardano coin can currently be bought for about $0.45 or 0.00000713 BTC on popular exchanges. In the last seven days, Cardano has traded down 1.5% against the US dollar. Cardano has a market capitalization of $16.16 billion and approximately $352.93 million worth of Cardano was traded on exchanges in the last day.

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

• Ethereum (ETH) traded down 2.5% against the dollar and now trades at $3,078.02 or 0.04838603 BTC.
• Avalanche (AVAX) traded down 1.3% against the dollar and now trades at $37.11 or 0.00058337 BTC.
• NEAR Protocol (NEAR) traded up 0.3% against the dollar and now trades at $7.44 or 0.00011689 BTC.
• Internet Computer (ICP) traded down 3.5% against the dollar and now trades at $12.82 or 0.00020152 BTC.
• Uniswap (UNI) traded down 1.4% against the dollar and now trades at $7.54 or 0.00011859 BTC.
• Hedera (HBAR) traded 0.2% higher against the dollar and now trades at $0.12 or 0.00000181 BTC.
• Cosmos (ATOM) traded down 1.8% against the dollar and now trades at $9.24 or 0.00014520 BTC.
• Cronos (CRO) traded down 2.8% against the dollar and now trades at $0.13 or 0.00000204 BTC.
• Fetch.ai (FET) traded 0.2% lower against the dollar and now trades at $2.41 or 0.00003790 BTC.
• Algorand (ALGO) traded down 1.6% against the dollar and now trades at $0.19 or 0.00000305 BTC.

About Cardano

Cardano (CRYPTO:ADA) 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 36,855,324,087 coins and its circulating supply is 35,652,773,883 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 Twitter account is @cardano and its Facebook page is accessible here. The official message board for Cardano is medium.com/feed/cardanorss. The official website for Cardano 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.”

Cardano Coin Trading

It is usually not currently possible to buy alternative cryptocurrencies such as Cardano directly using US dollars. Investors seeking to trade Cardano should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as Gemini, Coinbase or GDAX. 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