Cardano (ADA) Hits Market Cap of $11.79 Billion

Cardano (ADA) traded 1.5% higher against the dollar during the 1 day period ending at 23:00 PM E.T. on October 27th. One Cardano coin can now be bought for approximately $0.34 or 0.00000498 BTC on major cryptocurrency exchanges. Cardano has a total market capitalization of $11.79 billion and $161.35 million worth of Cardano was traded on exchanges in the last 24 hours. During the last seven days, Cardano has traded 7.9% lower against the dollar.

Here is how other cryptocurrencies have performed during the last 24 hours:

• Ethereum (ETH) traded up 0.7% against the dollar and now trades at $2,486.99 or 0.03672931 BTC.
• Avalanche (AVAX) traded up 0.6% against the dollar and now trades at $25.50 or 0.00037654 BTC.
• NEAR Protocol (NEAR) traded up 1.3% against the dollar and now trades at $4.26 or 0.00006298 BTC.
• Uniswap (UNI) traded down 0.2% against the dollar and now trades at $7.46 or 0.00011013 BTC.
• Internet Computer (ICP) traded 1.2% higher against the dollar and now trades at $7.76 or 0.00011464 BTC.
• Cronos (CRO) traded up 0.9% against the dollar and now trades at $0.0738 or 0.00000109 BTC.
• Hedera (HBAR) traded 0.1% higher against the dollar and now trades at $0.0482 or 0.00000071 BTC.
• Cosmos (ATOM) traded 1.6% higher against the dollar and now trades at $4.41 or 0.00006509 BTC.
• Fetch.ai (FET) traded 1.9% higher against the dollar and now trades at $1.26 or 0.00001855 BTC.
• Algorand (ALGO) traded 0.4% higher against the dollar and now trades at $0.11 or 0.00000169 BTC.

About Cardano

Cardano is a proof-of-stake (PoS) coin that uses the Ouroboros hashing algorithm. It launched on September 1st, 2017. Cardano’s total supply is 44,995,214,671 coins and its circulating supply is 34,986,894,173 coins. Cardano’s official Twitter account is @cardano and its Facebook page is accessible here. The Reddit community for Cardano is https://reddit.com/r/cardano and the currency’s Github account can be viewed here. Cardano’s official message board is medium.com/feed/cardanorss. Cardano’s official website 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 possible to buy alternative cryptocurrencies such as Cardano directly using U.S. dollars. Investors seeking to trade Cardano should first buy 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 buy Cardano using one of the aforementioned exchanges.

ADA/USD price chart by TradingView