Cardano (ADA) One Day Trading Volume Tops $346.37 Million

Cardano (ADA) traded 8.2% lower against the dollar during the 24 hour period ending at 21:00 PM Eastern on August 4th. Cardano has a total market capitalization of $12.00 billion and $346.37 million worth of Cardano was traded on exchanges in the last day. Over the last week, Cardano has traded down 19.1% against the dollar. One Cardano coin can currently be purchased for about $0.33 or 0.00000596 BTC on exchanges.

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

• Ethereum (ETH) traded 12.4% lower against the dollar and now trades at $2,554.10 or 0.04553143 BTC.
• Avalanche (AVAX) traded down 9.6% against the dollar and now trades at $20.53 or 0.00036599 BTC.
• NEAR Protocol (NEAR) traded down 9.4% against the dollar and now trades at $3.98 or 0.00007097 BTC.
• Uniswap (UNI) traded 11.2% lower against the dollar and now trades at $5.91 or 0.00010536 BTC.
• Internet Computer (ICP) traded 8.8% lower against the dollar and now trades at $7.14 or 0.00012737 BTC.
• Cronos (CRO) traded down 7.1% against the dollar and now trades at $0.0764 or 0.00000136 BTC.
• Hedera (HBAR) traded down 7.6% against the dollar and now trades at $0.0540 or 0.00000096 BTC.
• Cosmos (ATOM) traded down 4.3% against the dollar and now trades at $4.93 or 0.00008796 BTC.
• Fetch.ai (FET) traded 10.4% lower against the dollar and now trades at $0.90 or 0.00001603 BTC.
• Algorand (ALGO) traded down 8% against the dollar and now trades at $0.11 or 0.00000199 BTC.

Cardano Profile

Cardano (ADA) is a proof-of-stake (PoS) coin that uses the Ouroboros hashing algorithm. Its launch date was September 1st, 2017. Cardano’s total supply is 37,102,998,494 coins and its circulating supply is 35,916,997,866 coins. Cardano’s official message board is medium.com/feed/cardanorss. The official website for Cardano 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 currently 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 Gemini, Coinbase or GDAX. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Cardano using one of the exchanges listed above.

ADA/USD price chart by TradingView