China GPU prices drop to new lows after the Ethereum Merge
The Nvidia GeForce RTX 3080’s price dropped from $1118, or 8,000 yuan, to 5,000 yuan within three months, according to a Chinese merchant. As the Ethereum network’s move to a proof-of-stake (PoS) consensus mechanism drives adoption from institutional investors, the prices for graphics processing units (GPUs), often used for mining cryptocurrencies like Ether (ETH), have gone down in China. Following the historic Ethereum Merge on Sept. 15, the previously highly sought-out Nvidia GeForce GPUs have become significantly cheaper, according to a report by the South China Morning Post. Peng, a....
Related News
The successful Ethereum upgrade to proof-of-stake consensus is receiving more backlashes from the market. Therefore, the Ethereum upgrade should produce only positive feedback, but where there are merits, demerits must exist. One of the aftermath challenges the industry faced since the Ethereum upgrade was the drop in GPU prices. Graphic Processing Units (GPUs) in crypto mining increased over the years because they proved very efficient. Related Reading: TA: Ethereum Price Needs To Clear $1,400 For Hopes of a Fresh Rally GPU companies were earning huge profits due to the increased demand....
The effects of the upcoming Ethereum Merge on the crypto market have been very obvious. It has affected not just the price of ETH but the prices of other digital assets in the space, triggering a run-up that has brought them towards monthly highs. The effects have not ended at the spot market ,though. Data […]
The crypto market has been filled with so much volatility in the past months. Bitcoin price barely gained a 1% increase to the $20,373 mark; Ethereum and other altcoins prices are still in the dump. Crypto community members and experts predict a further slump come October. Amidst the market highs and lows, the industry is set to record three significant events this week. Perhaps, the market will experience more volatility in the coming months, considering the happenings in the industry in the previous months. Related Reading: Here’s Where Investors Expect Cardano (ADA) Price To Be At The....
The Ethereum merge is among the most significant events since its blockchain and the industry emerged. The event will move the blockchain from Proof-of-work (POW) to proof-of-stake (POS). While everyone is waiting for the positive impacts of Merge. The effect of the transition is already resounding in the crypto market. The market saw a major decrease in Ethereum prices in the last 48 hours. Moreover, Crypto market analysis experts fear that there may be a further drop in Ethereum price after the merge. Related Reading: Bitcoin Must Hold This Level Or Risk Falling To $10,000 While everyone....
Before the Ethereum merge event, some experts and investors predicted a fall in the price of Ethereum and hence traded cautiously. Popular analysts referred to the merge hype as a buy the rumor, sell the news scenario. The Feds reserves tightening and other market factors added to the volatility recorded in the valuations of ETH, BTC, and other Altcoins. After the merge event, analysts’ predictions proved right as the ETH price crashed below the support level. As a result, several ETH investments got withdrawn, and a few additions were recorded after the merge. Related Reading: ETH....