- The Nvidia RTX series are coming down in terms of market price.
- Crypto miners leaving the market might be a possibility of plummeting prices.
- The cryptocurrency market has a market capital of 979 Billion USD.
Nvidia RTX Series Price Drop
Nvidia is a big player when it comes to the graphic cards, gaming, and even crypto mining industry. The organization has always provided the users with some of the best equipment in terms of powerful GPUs. Its RTX 30 series is among the most robust processing units preferred by the users whether it is gaming or crypto asset mining.
Nvidia RTX 30 series offers gaming ready GPUs with a touch of ray tracing and artificial intelligence tech for gaming. They can support games like Call of Duty: Warzone as well as Cold War from the same game series.
A data aggregator recently spotted a cut off in this series’ prices. As of now, RTX 3080 and RTX 3080 Ti were available for 700 USD and 1119 USD. On the other hand, their successor RTX 3090 Ti was available for around 1450 USD, down from 2000 USD in June. These kinds of prices are something users look forward to when they decide to acquire graphic processing units.
How Is GPU Prices Affected By Crypto Industry
Basically, it is all based on a couple of economic pillars called Demand and Supply. In terms of price, the common rule is that whenever the demand goes down, it will increase the prices of the product, similarly, higher demand will lessen the prices. This might be possible due to the turbulence in the crypto market. Miners are not seeing healthy profits and selling their holdings to write off their profits.
Recently, Core Scientific, a crypto mining organization sold almost all of their Bitcoin holdings due to crypto bloodshed.
ALSO READ – KuCoin CEO Johnny Lyu introduced the ‘Anti-FUD Fund.’
Crypto Market Update
Crypto Winter is still on high and showing no mercy on the market. Bitcoin and Ethereum were trading at the market value of 21,298 USD and 1,459 USD respectively. Both the coins have shed around 70% of their values since their high time during November 2021. As of this publishing, the cryptocurrency market cap again went under $1 Trillion, indicating sign of relief for the investors.
Source: https://www.thecoinrepublic.com/2022/07/27/nvidia-gpu-prices-are-going-down/