Here seems to be great news for the gaming enthusiast. Despite the fact that some crypto investors are not so optimistic given the latest bearish trends and crypto crash. The cost of Graphics cards has gradually plunged in this situation.
Tom’s Hardware, a PC news and review website, has recently reported that GPU prices have dropped by 15% last month. And they have witnessed 10-15% price drops per month for the past few months.
They saw the best graphics cards return to stock as the GPU mining profitability decreased and it was prior to the crypto crash of Bitcoin (BTC) and Ethereum (ETH).
The Crypto crash Bringing Good For The Gamers
A Graphics Processing Unit (GPU) is basically a specialized computer chip designed to boost the graphics rendering. At the same time, GPUs can process many data streams, instantly rendering images and videos, making them more useful for gaming.
And because of their specialized processing power, GPUs are also utilized and are good for crypto mining. But GPUs usually consume more energy than the Central Processing Unit (CPU) of the computer they are installed in.
The report further signifies that an RTX 3080 GPU that sold for $1,000 at a time, now sells for just $650, and the miners who wish to initiate the mining of digital assets like Ethereum (ETH) today might have to wait two years to break even on the investment.
One more reason that is found out is that new and upgraded models would be rolled out soon, and this would push the current generation of GPUs to the secondary market.
Though the miners of the flagship crypto Bitcoin (Ntc) primarily use specialized ASIC hardware, the other Proof-of-Work blockchains comprising Ethereum, Dogecoin, Monero, ZCash, etc can be mined with the help of GPU cards.
Although Ethereum accounted majorly for the mining through GPUs, its transitions towards the Proof-of-Stake model following the Merge this year would make it more eco-friendly. And this might also result in plummeting the demands for Graphics cards.
And following the upgrade, there is a possibility that the Ethereum miners would find other blockchains to mine in order to stay profitable.
This is just one of the other major impacts that the recent crypto crash has on the overall industry. It is to look forward to how the market would perform further.
ALSO READ: Why are cryptocurrencies linked with scams and cheating so easily?
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2022/06/23/crypto-crash-results-in-dropped-gpu-prices-heres-why/