Cardano Rallies Again to Recover 2021 Record Highs

This year Cardano has made some price corrections to get ready for the next jump. Perhaps it will try to restore its record high mark of $2.9682 which was reached on September 3, 2021. That day a very huge volume of $5.24 billion has pushed the coin to soar.

One of the main factors that push Cardano is the annual percentage yield, APY staking rate made by crypto exchanges. Recently, Coinbase has increased the APY rate for staking ADA to 3.75%. If a similar decision is made by other exchanges ADA will surely go up.

The next factor is Federal interest rates set by the head of the Federal Reserve Bank. Please note, this bank is privately owned by several bankers. Unfortunately, the rich still can impact the price of cryptocurrencies while many crypto holders and developers are trying hard to decentralize all the available digital currencies.

Cardano was meant to be a direct competitor of Ethereum which is always on the top of demanded mineable coins. ETH is still solid crypto for miners to run their farms that are built by Nvidia and AMD graphics cards mostly. Anyway, investing in Cardano is still actual now, thanks to its current cheap $1.17 price. It is just a piece of cake for new buyers.

cardano soars