Cardano (ADA) Trading Down 24.9% Over Last 7 Days

Cardano (ADA) traded down 0.6% against the US dollar during the 24 hour period ending at 16:00 PM ET on April 16th. One Cardano coin can currently be purchased for approximately $0.45 or 0.00000718 BTC on popular exchanges. Cardano has a market cap of $16.08 billion and approximately $524.77 million worth of Cardano was traded on exchanges in the last 24 hours. Over the last week, Cardano has traded down 24.9% against the US dollar.

Here is how similar cryptocurrencies have performed over the last 24 hours:

• Ethereum (ETH) traded 1% lower against the dollar and now trades at $3,062.03 or 0.04868240 BTC.
• Avalanche (AVAX) traded down 2.5% against the dollar and now trades at $34.19 or 0.00054354 BTC.
• NEAR Protocol (NEAR) traded 3.2% higher against the dollar and now trades at $5.33 or 0.00008473 BTC.
• Internet Computer (ICP) traded 1.9% lower against the dollar and now trades at $12.09 or 0.00019223 BTC.
• Uniswap (UNI) traded 2.7% lower against the dollar and now trades at $7.09 or 0.00011270 BTC.
• Cronos (CRO) traded 0.4% higher against the dollar and now trades at $0.13 or 0.00000199 BTC.
• Cosmos (ATOM) traded up 0.1% against the dollar and now trades at $8.08 or 0.00012842 BTC.
• Hedera (HBAR) traded up 0% against the dollar and now trades at $0.0793 or 0.00000126 BTC.
• Fetch.ai (FET) traded down 2.9% against the dollar and now trades at $2.00 or 0.00003187 BTC.
• Algorand (ALGO) traded 1.1% higher against the dollar and now trades at $0.17 or 0.00000273 BTC.

About Cardano

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 36,798,870,281 coins and its circulating supply is 35,614,584,181 coins. The Reddit community for Cardano is https://reddit.com/r/cardano and the currency’s Github account can be viewed here. The official website for Cardano is www.cardano.org. Cardano’s official message board is medium.com/feed/cardanorss. Cardano’s official Twitter account is @cardano and its Facebook page is accessible here.

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 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 Gemini. 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