This site may earn affiliate commissions from the links on this page. Terms of Use.

Gamers around the world have been waiting almost two years for a crypto crash to get a reasonable GPU. Although it seemed that this day might never come, as currency after currency went to the moon, that day finally came. The cryptocurrency is in complete disrepair at the moment, with every major type of currency bleeding in the red. Although the “volatility” of crypto markets began a while ago, everything has peaked in the last week. All major cryptocurrencies fell, with the market losing $ 200 billion in one day this week. If you have retired in cryptocurrency, our condolences. However, if you have been waiting to buy a graphics processor, this may be your lucky one.

Bitcoin (BTC) is currently trading at the lowest amount since December 2020. It has lost more than 60 percent of its value since November 2021, when it was over $ 65,000 per coin. It is currently hovering around $ 28,700 at the time of writing. It was over $ 30,000 just a day ago, so its price is fluctuating sharply at the moment. Bitcoins are not the only type of coin created by crypto miners, but the tentpole currency is considered an industry leader. Ethereum, which is more directly responsible for much of the GPU shortage, is also experiencing significant fluctuations. It is currently below $ 2,000, the first time it has happened since June 2021. It has lost almost half of its value in the last month, which probably makes many miners very nervous.

The effectiveness of Ethereum for a period of one month ending on 5/12.

One of the leading reasons for the recent free fall is the devaluation of TercoUSD or UST. It is designed to trade 1: 1 with the US dollar. According to Techspot it is an algorithmically stable coin that is traded at around $ 1 for most of the year. It collapsed to $ 0.29 this week, causing panic. Its market capitalization of $ 45 billion was reduced to $ 5 billion in record time. Terra has a “supporting coin” named Luna, which has also accumulated a crater. From $ 86 per coin last week rose to just $ 0.20. The situation has deteriorated so much that subreddit for the Terra and Luna coins, there is a post with national helpline numbers that people can call if they are considering getting hurt. In addition to the Terra disaster, the war in Ukraine and inflation are also seen as influencing the collapse.

For now, it is difficult to say what this means for the future of cryptocurrency, both as a viable environment for money transactions and investment. At the same time, there are probably many people who think this is the best time to buy. This will certainly strengthen the market for GPUs, as we expect a stream of “lightly used” digging cards to hit the market no buy a used digging card if you value the longevity of your GPU – Ed). This can also help reduce the cost of GPUs in general. There has been a problem with supply and demand for centuries. Miners and bots have drained the entire supply of GPUs, raising prices in the process due to shortages.

The situation is still evolving, so it is currently difficult to understand what impact it will have on the GPU market. We certainly feel bad for people who have lost money by investing in cryptocurrency, but it has always been a risky investment. “Doge coin millionaire”He himself expressed himself best in reaction to the last implosion. “It’s crazy to think that you can invest in a “healthy” crypto project with all the bells and whistles of utility and an amazing team behind it, like # MOON and yet you get completely REKT. Nobody knows anything. ”

Now read:

Previous articleHansel Phelps wins AFB Tyndall F-35A equipment contract
Next articleKey Convener is launching a plan to provide open source software with the White House