Cardano (ADA) Price Hits $1.12 on Major Exchanges

Cardano (ADA) traded 1.1% lower against the US dollar during the twenty-four hour period ending at 11:00 AM Eastern on January 17th. One Cardano coin can now be purchased for $1.12 or 0.00001071 BTC on popular cryptocurrency exchanges. Cardano has a total market cap of $39.43 billion and approximately $1.81 billion worth of Cardano was traded on exchanges in the last 24 hours. During the last seven days, Cardano has traded 21.3% higher against the US dollar.

Here’s how related cryptocurrencies have performed during the last 24 hours:

• Ethereum (ETH) traded up 2.8% against the dollar and now trades at $3,441.08 or 0.03285967 BTC.
• Avalanche (AVAX) traded up 3.1% against the dollar and now trades at $41.16 or 0.00039302 BTC.
• Hedera (HBAR) traded 0.9% higher against the dollar and now trades at $0.37 or 0.00000352 BTC.
• Uniswap (UNI) traded up 3.7% against the dollar and now trades at $14.95 or 0.00014274 BTC.
• NEAR Protocol (NEAR) traded up 6.5% against the dollar and now trades at $5.63 or 0.00005374 BTC.
• Internet Computer (ICP) traded up 2.7% against the dollar and now trades at $11.25 or 0.00010741 BTC.
• Algorand (ALGO) traded down 0.8% against the dollar and now trades at $0.47 or 0.00000451 BTC.
• Cronos (CRO) traded down 0.2% against the dollar and now trades at $0.15 or 0.00000139 BTC.
• Fetch.ai (FET) traded 4% higher against the dollar and now trades at $1.40 or 0.00001338 BTC.
• Cosmos (ATOM) traded up 3.5% against the dollar and now trades at $6.91 or 0.00006601 BTC.

Cardano Coin 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 44,995,113,259 coins and its circulating supply is 35,164,286,309 coins. 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 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.”

Buying and Selling Cardano

It is usually not currently possible to purchase alternative cryptocurrencies such as Cardano directly using U.S. dollars. Investors seeking to trade Cardano should first purchase Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Changelly, Gemini or GDAX. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Cardano using one of the aforementioned exchanges.

ADA/USD price chart by TradingView