Cardano (ADA) Price Down 16% This Week

Cardano (ADA) traded down 5.2% against the dollar during the 1 day period ending at 9:00 AM Eastern on April 30th. Cardano has a market capitalization of $15.36 billion and approximately $338.40 million worth of Cardano was traded on exchanges in the last day. In the last week, Cardano has traded 16% lower against the dollar. One Cardano coin can currently be purchased for approximately $0.43 or 0.00000704 BTC on exchanges.

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

• Ethereum (ETH) traded down 5.2% against the dollar and now trades at $3,006.13 or 0.04911757 BTC.
• Avalanche (AVAX) traded 1.6% lower against the dollar and now trades at $32.92 or 0.00053787 BTC.
• NEAR Protocol (NEAR) traded down 7.9% against the dollar and now trades at $6.24 or 0.00010189 BTC.
• Internet Computer (ICP) traded down 6.2% against the dollar and now trades at $12.57 or 0.00020545 BTC.
• Uniswap (UNI) traded 6.3% lower against the dollar and now trades at $7.14 or 0.00011665 BTC.
• Cronos (CRO) traded up 3.6% against the dollar and now trades at $0.13 or 0.00000217 BTC.
• Hedera (HBAR) traded 8.9% lower against the dollar and now trades at $0.0944 or 0.00000154 BTC.
• Cosmos (ATOM) traded down 3.2% against the dollar and now trades at $7.76 or 0.00012680 BTC.
• Fetch.ai (FET) traded down 7.8% against the dollar and now trades at $1.97 or 0.00003226 BTC.
• Algorand (ALGO) traded 6.3% lower against the dollar and now trades at $0.18 or 0.00000287 BTC.

About 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 36,841,202,420 coins and its circulating supply is 35,643,131,073 coins. Cardano’s official website is www.cardano.org. Cardano’s official message board is medium.com/feed/cardanorss. 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.

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 US dollars. Investors seeking to trade Cardano should first purchase Bitcoin or Ethereum using an exchange that deals in US dollars such as GDAX, Gemini or Changelly. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Cardano using one of the exchanges listed above.

ADA/USD price chart by TradingView