Cardano (ADA) Trading Down 16.1% This Week

Cardano (ADA) traded 4% lower against the US dollar during the 1 day period ending at 13:00 PM ET on October 3rd. One Cardano coin can now be purchased for $0.34 or 0.00000559 BTC on cryptocurrency exchanges. Cardano has a market cap of $11.74 billion and $343.15 million worth of Cardano was traded on exchanges in the last day. Over the last seven days, Cardano has traded down 16.1% against the US dollar.

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

• Ethereum (ETH) traded down 5.4% against the dollar and now trades at $2,321.29 or 0.03866363 BTC.
• Avalanche (AVAX) traded down 7.1% against the dollar and now trades at $24.16 or 0.00040235 BTC.
• NEAR Protocol (NEAR) traded down 6% against the dollar and now trades at $4.48 or 0.00007456 BTC.
• Uniswap (UNI) traded 7.4% lower against the dollar and now trades at $6.46 or 0.00010755 BTC.
• Internet Computer (ICP) traded 5.4% lower against the dollar and now trades at $7.77 or 0.00012948 BTC.
• Cronos (CRO) traded 3.8% lower against the dollar and now trades at $0.0769 or 0.00000128 BTC.
• Hedera (HBAR) traded 4.4% lower against the dollar and now trades at $0.0504 or 0.00000084 BTC.
• Cosmos (ATOM) traded 5.6% lower against the dollar and now trades at $4.26 or 0.00007097 BTC.
• Fetch.ai (FET) traded 9.4% lower against the dollar and now trades at $1.34 or 0.00002231 BTC.
• Algorand (ALGO) traded down 3.2% against the dollar and now trades at $0.12 or 0.00000199 BTC.

Cardano Profile

Cardano (ADA) is a proof-of-stake (PoS) coin that uses the Ouroboros hashing algorithm. It was first traded on September 1st, 2017. Cardano’s total supply is 44,995,138,810 coins and its circulating supply is 34,956,414,642 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. Cardano’s official message board 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.”

Buying and Selling Cardano

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

ADA/USD price chart by TradingView