Cardano Price Down 17% Over Last Week (ADA)

Cardano (ADA) traded 6.3% higher against the U.S. dollar during the 24-hour period ending at 17:00 PM ET on August 6th. Cardano has a market cap of $11.94 billion and approximately $421.62 million worth of Cardano was traded on exchanges in the last 24 hours. In the last seven days, Cardano has traded 17% lower against the U.S. dollar. One Cardano coin can currently be purchased for about $0.33 or 0.00000586 BTC on popular exchanges.

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

• Ethereum (ETH) traded 3.7% higher against the dollar and now trades at $2,499.52 or 0.04408769 BTC.
• Avalanche (AVAX) traded 8.1% higher against the dollar and now trades at $21.10 or 0.00037220 BTC.
• NEAR Protocol (NEAR) traded 7.3% higher against the dollar and now trades at $3.75 or 0.00006616 BTC.
• Internet Computer (ICP) traded up 8.4% against the dollar and now trades at $7.65 or 0.00013488 BTC.
• Uniswap (UNI) traded 9.6% higher against the dollar and now trades at $5.82 or 0.00010264 BTC.
• Cronos (CRO) traded up 8.3% against the dollar and now trades at $0.0804 or 0.00000142 BTC.
• Hedera (HBAR) traded 7% higher against the dollar and now trades at $0.0558 or 0.00000098 BTC.
• Cosmos (ATOM) traded up 5.5% against the dollar and now trades at $4.91 or 0.00008667 BTC.
• Algorand (ALGO) traded up 2.5% against the dollar and now trades at $0.11 or 0.00000199 BTC.
• Fetch.ai (FET) traded up 8.7% against the dollar and now trades at $0.86 or 0.00001523 BTC.

Cardano Coin Profile

Cardano (CRYPTO: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 37,102,998,494 coins and its circulating supply is 35,923,320,243 coins. Cardano’s official Twitter account is @cardano and its Facebook page is accessible here. Cardano’s official website is www.cardano.org. The official message board for Cardano is medium.com/feed/cardanorss. The Reddit community for Cardano is https://reddit.com/r/cardano and the currency’s Github account can be viewed 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 purchase alternative cryptocurrencies such as Cardano directly using US dollars. Investors seeking to acquire Cardano should first purchase Ethereum or Bitcoin using an exchange that deals in US dollars such as Changelly, Coinbase or GDAX. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Cardano using one of the aforementioned exchanges.

ADA/USD price chart by TradingView