Ethereum Merge impacted this sector the most in China
EthereumAng Ethereum Merge ay higit na nakaapekto sa sektor na ito sa China09 / 26 / 2022Balita ng Ethereum ng Bitcoin Since graphics cards can no longer be used to mine a cryptocurrency, Ethereums long-awaited switch to proof-of-stake has had an even greater impact on the industry. Following the Ethereum Merge earlier this month, prices for graphics processing units (GPUs) have dropped to their “lowest level ever” in China. According to the SCMP, vendors of graphics cards in China have reported plunging prices for mid and high-end units over the previous two months. The demand for Nvidias flagship GeForce RTX 3080 and 3090 models caused recommended retail prices to triple once ETH could be mined and the bull market was in full swing. But retailers in Shanghais electronics retail market claim that during the previous three months, both demand and prices have fallen by roughly 40%. Why are the prices getting high? The cost of graphics cards, which are normally used for video games, tends to rise along with the price of cryptocurrencies because of the unique properties of GPUs that make them well-suited for hashing, and the complex computations employed for mining on proof-of-work blockchains. There are several independent producers of graphics cards for the market, such