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

Cardano (ADA) traded 1.4% lower against the US dollar during the 24-hour period ending at 21:00 PM ET on May 6th. Cardano has a market cap of $16.16 billion and approximately $352.93 million worth of Cardano was traded on exchanges in the last 24 hours. In the last seven days, Cardano has traded 1.5% lower against the US dollar. One Cardano coin can now be bought for $0.45 or 0.00000713 BTC on popular cryptocurrency exchanges.

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

• 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 1.4% lower against the dollar and now trades at $7.54 or 0.00011859 BTC.
• Hedera (HBAR) traded up 0.2% 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 1.6% lower against the dollar and now trades at $0.19 or 0.00000305 BTC.

Cardano Coin Profile

Cardano 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 36,855,324,087 coins and its circulating supply is 35,652,773,883 coins. Cardano’s official message board is medium.com/feed/cardanorss. Cardano’s official website is www.cardano.org. 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.

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 buy alternative cryptocurrencies such as Cardano directly using US dollars. Investors seeking to acquire Cardano should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as Coinbase, Gemini or Changelly. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Cardano using one of the aforementioned exchanges.

ADA/USD price chart by TradingView