Cardano (ADA) Price Hits $0.47 on Major Exchanges

Cardano (ADA) traded 1.8% higher against the US dollar during the 1-day period ending at 21:00 PM E.T. on May 3rd. Cardano has a total market capitalization of $16.70 billion and $332.30 million worth of Cardano was traded on exchanges in the last day. During the last seven days, Cardano has traded up 3.6% against the US dollar. One Cardano coin can now be bought for about $0.47 or 0.00000744 BTC on major exchanges.

Here is how other cryptocurrencies have performed during the last day:

• Ethereum (ETH) traded up 3.5% against the dollar and now trades at $3,114.43 or 0.04946137 BTC.
• Avalanche (AVAX) traded 4.4% higher against the dollar and now trades at $35.56 or 0.00056470 BTC.
• NEAR Protocol (NEAR) traded up 10.4% against the dollar and now trades at $6.88 or 0.00010922 BTC.
• Internet Computer (ICP) traded up 1.4% against the dollar and now trades at $13.53 or 0.00021483 BTC.
• Uniswap (UNI) traded 6.2% higher against the dollar and now trades at $7.61 or 0.00012089 BTC.
• Hedera (HBAR) traded up 9.7% against the dollar and now trades at $0.11 or 0.00000176 BTC.
• Cronos (CRO) traded 2.8% higher against the dollar and now trades at $0.13 or 0.00000213 BTC.
• Cosmos (ATOM) traded 0.9% higher against the dollar and now trades at $8.78 or 0.00013948 BTC.
• Fetch.ai (FET) traded up 7.4% against the dollar and now trades at $2.19 or 0.00003470 BTC.
• Algorand (ALGO) traded up 4.8% against the dollar and now trades at $0.19 or 0.00000304 BTC.

Cardano Coin Profile

Cardano (ADA) is a proof-of-stake (PoS) coin that uses the Ouroboros hashing algorithm. Its genesis date was September 1st, 2017. Cardano’s total supply is 36,841,202,420 coins and its circulating supply is 35,652,414,062 coins. 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. Cardano’s official message board is medium.com/feed/cardanorss. The official website for Cardano 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.”

Buying and Selling Cardano

It is usually not currently possible to purchase alternative cryptocurrencies such as Cardano directly using US dollars. Investors seeking to acquire Cardano should first purchase Bitcoin or Ethereum using an exchange that deals in US dollars such as GDAX, Changelly or Gemini. 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