Stake DAO (SDT) Achieves Market Capitalization of $3.72 Million

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Stake DAO (CURRENCY:SDT) traded down 7% against the U.S. dollar during the twenty-four hour period ending at 16:00 PM Eastern on May 4th. Over the last seven days, Stake DAO has traded 9.6% lower against the U.S. dollar. Stake DAO has a market capitalization of $3.72 million and $2.15 million worth of Stake DAO was traded on exchanges in the last 24 hours. One Stake DAO coin can now be purchased for $5.25 or 0.00009689 BTC on exchanges.

Here’s how related cryptocurrencies have performed over the last 24 hours:

  • Avalanche (AVAX) traded down 11.2% against the dollar and now trades at $31.64 or 0.00058342 BTC.
  • Algorand (ALGO) traded down 7.3% against the dollar and now trades at $1.34 or 0.00002475 BTC.
  • Elrond (EGLD) traded 6% lower against the dollar and now trades at $180.71 or 0.00333227 BTC.
  • NEAR Protocol (NEAR) traded 9.4% lower against the dollar and now trades at $4.95 or 0.00009130 BTC.
  • Theta Fuel (TFUEL) traded down 9.2% against the dollar and now trades at $0.34 or 0.00000633 BTC.
  • Helium (HNT) traded 6.6% lower against the dollar and now trades at $17.14 or 0.00031605 BTC.
  • Ardor (ARDR) traded down 7.9% against the dollar and now trades at $0.36 or 0.00000671 BTC.
  • (KAVA) traded 9.5% lower against the dollar and now trades at $5.89 or 0.00010866 BTC.
  • Wanchain (WAN) traded 10.8% lower against the dollar and now trades at $1.62 or 0.00002981 BTC.
  • Divi (DIVI) traded down 2.5% against the dollar and now trades at $0.0668 or 0.00000123 BTC.

Stake DAO Coin Profile

SDT uses the hashing algorithm. Stake DAO’s total supply is 41,600,000 coins and its circulating supply is 708,604 coins. Stake DAO’s official Twitter account is @StakedaoHQ.

According to CryptoCompare, “Terra aims to build a new financial infrastructure that works better for everyone. The network is powered by a family of stablecoins, each pegged to major fiat currencies all algorithmically stabilized by Terra’s native token, Luna. Terra’s mission is to set money free by building open financial infrastructure. Luna, as the native staking asset from which the family of Terra stablecoins derives their stability, utility, and value, acts both as collateral for the entire Terra economy and as a staking token that secures the PoS network. Luna can be held and traded like a normal crypto asset, but can also be staked to accrue rewards in the network generated from transaction fees. Luna can also be used to make and vote on governance proposals. The family of Terra stablecoins is designed to achieve stability through consistent mining rewards with a contracting and expanding money supply. For example, if the system has detected that the price of a Terra currency has deviated from its peg, it applies pressure to normalize the price. Currently, the family of Terra stablecoins includes: KRT (Terra stablecoin pegged to Korean Won), UST (Terra stablecoin pegged to US Dollar), MNT (Terra stablecoin pegged to Mongolian Togrog), SDR (Terra stablecoin pegged to IMF SDR), with more being added in the future. “

Buying and Selling Stake DAO

It is usually not currently possible to buy alternative cryptocurrencies such as Stake DAO directly using US dollars. Investors seeking to trade Stake DAO should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as Coinbase, GDAX or Gemini. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Stake DAO using one of the aforementioned exchanges.

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