Cardano
ADARank #17- Market cap
- $8.31B
- 24h volume
- $252.06M
- 7d change
- -12.26%
- 30d change
- -1.49%
- 24h high / low
- $0.222 / $0.2113
- Circulating supply
- 37.56B
- Max supply
- 45B
- All-time high
- $3.09 (Sep 1, 2021)
Cardano is a research-driven Layer 1 smart contract platform using a proof-of-stake consensus mechanism and a two-layer architecture.
By the PickACrypto Team · Updated Sep 28, 2026
Our read on Cardano
Research-driventwo-layer architecturestructured governance
Cardano prioritises peer-reviewed development and architectural separation over rapid feature deployment. Its methodical approach appeals to users valuing formal verification, though it contrasts with faster-moving competitor ecosystems.
- Layer 1 (L1), Smart Contract Platform, Proof of Stake (PoS)
- Category
- #17
- Market-cap rank
- 45,000,000,000 ADA
- Max supply
- 37,535,193,929 ADA
- Circulating supply
- Charles Hoskinson, who previously helped create Ethereum
- Founder
- 83.33%
- Initial public sales distribution
The bull case
- A peer-reviewed development model aims to create a more secure and stable foundation by testing features with scientists and cryptographers before deployment.
- A two-layer design separates basic payment transactions from smart contract operations, allowing each function to be optimised independently for better performance.
- Responsibilities are distributed across three distinct organisations (IOG, Cardano Foundation, Emurgo) rather than concentrated in a single entity.
- Major asset manager Grayscale Investments filed with the SEC in February 2025 to create a Cardano ETF, which could allow traditional investors to buy ADA through regular brokerage accounts.
The bear case
- The methodical, research-driven approach prioritises thorough testing over speed, which can result in slower deployment of new features compared to platforms that prioritise rapid iteration.
- ADA supply is not fully circulating, with 37,535,193,929 of a 45,000,000,000 max supply currently in circulation, meaning remaining tokens can still enter the market over time.
- Enterprise and institutional partners are concentrated within three entities (IOG, Emurgo, Cardano Foundation), meaning the ecosystem relies heavily on the continued coordination of these groups.
What Cardano is
Cardano is a Layer 1 blockchain and smart contract platform built on academic research. Founded in 2017 by Charles Hoskinson, who previously helped create Ethereum, the project distinguishes itself through a methodical, research-driven approach where major features are peer-reviewed by scientists and cryptographers before being added to the network.
The ecosystem operates through three separate organisations. Input Output Global (IOG), led by Hoskinson, handles technical development and maintains Cardano's core software. The Cardano Foundation focuses on promoting adoption and standardisation. Emurgo helps businesses integrate blockchain technology into their operations. This structure distributes responsibilities across multiple groups rather than concentrating control in a single entity.
How it works
Cardano uses a proof-of-stake consensus mechanism to process transactions. Instead of competing to solve complex puzzles like Bitcoin's mining approach, users stake their ADA to become validators who verify transactions. The system selects validators based on how much ADA they have staked and for how long, then rewards them with additional ADA for their participation.
The platform features a two-layer design that separates basic payment transactions from smart contract operations. This separation allows each function to be optimised independently, which the project states provides better performance compared to monolithic architectures. ADA, the native cryptocurrency, is used to send money, pay transaction fees, participate in network governance, and earn staking rewards by locking up tokens to help secure the network.
Tokenomics
Cardano has a max supply of 45,000,000,000 ADA, with a circulating supply of 37,535,193,929 ADA. The initial token allocation reserved 83.33% for public sales distribution, 7.92% for IOHK, 6.67% for EMURGO, and 2.08% for the Cardano Foundation, Switzerland.
ADA functions as the native asset for transaction fees, staking participation, and governance voting. Users can lock up their tokens to help secure the network and earn staking rewards, or use ADA for international money transfers with lower fees than traditional services.
Approximate allocation
- 83.33%Public Sales Distribution
- 7.92%IOHK
- 6.67%EMURGO
- 2.08%Cardano Foundation, Switzerland
Competitive edge
Cardano's primary differentiator is its commitment to peer-reviewed research and formal verification before deploying major features. This approach aims to create a more secure and stable foundation compared to platforms that prioritise speed over thorough testing.
The two-layer architecture provides another distinction, separating settlement from computation to allow independent optimisation of each layer.
Every major feature is peer-reviewed by scientists and cryptographers before being added to the network.
This process, combined with the distributed organisational structure across IOG, the Cardano Foundation, and Emurgo, positions Cardano as a platform built for measured, academically grounded development rather than rapid, iterative deployment.
Recent developments
Collected by our radar from Cardano's own channels. Each line links to the announcement it came from.
- governance
Cardano governance action passed with roughly 75% support to advance the .ada bid in ICANN's new gTLD Program.
cardano.org → - upgrade
CIP-0113 programmable tokens went live on Cardano mainnet with support from Eternl, GeroWallet, CardanoScan, and BloxBean.
cardano.org → - upgrade
CIP-113 was merged into Cardano's main CIP repository, enabling programmable transfer rules inside assets.
cardano.org → - partnership
Petrobras deployed Cardano-based traceability for aviation fuel and renewable diesel claims.
cardano.org → - upgrade
Lace 2.3 shipped with reworked staking and DRep browsers and broader hardware wallet support.
cardano.org → - listing
Fireblocks announced full support for Cardano native tokens using CIP-26 and CIP-68 standards.
cardano.org →
Frequently asked questions
- Who founded Cardano?
- Cardano was founded in 2017 by Charles Hoskinson, who previously helped create Ethereum and leads Input Output Global (IOG), the company that builds and maintains Cardano's core software.
- How does Cardano's proof-of-stake system work?
- Users stake their ADA to become validators, and the system selects validators based on how much ADA they have staked and for how long. Validators are rewarded with additional ADA for verifying transactions, using far less energy than traditional mining.
- What is the maximum supply of ADA?
- The maximum supply of ADA is 45,000,000,000, with a circulating supply of 37,535,193,929.
Sources
The durable facts on this page are drawn from the sources below; live market figures update from our own database. See our methodology.
Technical indicators
Computed daily by our pipeline from accumulated price history.
- RSI (14d)
- 52.15
- 50-day SMA
- $0.1862
- 200-day SMA
- —
- Volatility (30d, annualised)
- 112.26%
- 90d support
- $0.1435
- 90d resistance
- $0.2622
- Correlation vs BTC
- 0.61
- Correlation vs ETH
- 0.62
Cardano price prediction
Our deterministic model publishes forecast ranges for Cardano across five horizons, each recorded immutably and scored on the Accuracy Ledger when it matures.
This is research and analysis, not financial advice. Crypto is volatile and you can lose what you put in. Figures are sourced above or drawn live from our own database. Always do your own research.
Market data synced from CoinGecko into our own database. This page's figures were captured Mon, 19 Oct 2026 01:00:00 GMT. Every figure is injected from that record; see the methodology. Nothing on this page is financial advice. Read the disclaimer.