Cardano (ADA) Price Down 4.5% Over Last Week

Cardano (ADA) traded down 0.5% against the US dollar during the 24-hour period ending at 19:00 PM E.T. on May 12th. One Cardano coin can now be purchased for approximately $0.44 or 0.00000712 BTC on cryptocurrency exchanges. Cardano has a total market capitalization of $15.58 billion and $159.62 million worth of Cardano was traded on exchanges in the last day. During the last seven days, Cardano has traded 4.5% lower against the US dollar.

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

• Ethereum (ETH) traded up 0.6% against the dollar and now trades at $2,933.18 or 0.04783535 BTC.
• Avalanche (AVAX) traded down 1% against the dollar and now trades at $33.22 or 0.00054184 BTC.
• NEAR Protocol (NEAR) traded 2.5% lower against the dollar and now trades at $6.88 or 0.00011214 BTC.
• Internet Computer (ICP) traded down 1.8% against the dollar and now trades at $11.72 or 0.00019120 BTC.
• Uniswap (UNI) traded 0% lower against the dollar and now trades at $7.06 or 0.00011508 BTC.
• Hedera (HBAR) traded 1.4% higher against the dollar and now trades at $0.11 or 0.00000177 BTC.
• Cosmos (ATOM) traded down 0.6% against the dollar and now trades at $8.49 or 0.00013842 BTC.
• Cronos (CRO) traded 0% lower against the dollar and now trades at $0.12 or 0.00000203 BTC.
• Fetch.ai (FET) traded 1.8% lower against the dollar and now trades at $2.17 or 0.00003537 BTC.
• Algorand (ALGO) traded down 1.3% against the dollar and now trades at $0.18 or 0.00000289 BTC.

About Cardano

Cardano 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 36,869,473,182 coins and its circulating supply is 35,665,427,084 coins. The official website for Cardano is www.cardano.org. The official message board for Cardano 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 presently 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 Coinbase, Changelly or Gemini. 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