Graphics card prices are rising in the Chinese market as Ethereum rebounds

Nvidia graphics card prices rose 18% in the Chinese market as Ethereum returned to all-time highs.

Nivdia GPU elevated sharply

According to a report by MyDrivers, Nvidia graphics playing cards for cryptocurrency mining are bought out in China and prices are skyrocketing. This is unhealthy information for HD players and crypto miners.

This price spike coincides with the rise in ETH in current weeks and comes after GPU prices bottomed out in July. ETH has rallied strongly this week, rising over 25% from round $ 3,100 to $ 3,934. However, at the time of writing, ETH fell barely again to the $ 3,700 area as Bitcoin reversed to $ 51,000.

Source: TradingView

The report additionally states that Ethereum’s mining earnings have almost doubled since early August.

Amid the return of ETH to the $ 4,000 vary, elevated mining exercise and GPU prices spiked. Nvidia’s GPUs, together with GPUs from AMD and others, skilled a “big drop in prices” throughout the dramatic decline in the crypto market from May to July of this yr. During this time, GPU prices fell from a plus of round 300% to beneath 150%. However, as the market has elevated, the want to purchase and promote GPUs has elevated. Specifically, the worldwide vary of playing cards from the Nvidia RTX 30 sequence, AMD 6000 sequence – even ASUS graphics playing cards will probably be a problem in the future.

The report exhibits that the RTX 3070 Ti is the GPU that advantages the most. Prices have risen almost $ 100 in the final week and are turning into ever scarcer. The RTX 3080 and RTX 3070 playing cards each go up by greater than $ 60, whereas the different sequence have price will increase of $ 20 to $ 50. Older era chips are additionally growing in these occasions of want. The price improve means a bounce from 15% to twenty% in a comparatively quick time. However, the elevated prices for some older era playing cards additionally make no sense, as they are so outdated that there’s virtually no chance of crypto mining. But in any case, that is proof that folks are now determined and want to take a look at these older era playing cards.

This price-driving scenario doesn’t solely exist in the Chinese market. Ticket prices will proceed to rise and develop into scarcer round the world till the market regains the stability between provide and demand. Or till firms can ship new GPU fashions or carry different alternate options onto the market. A German firm that specializes in monitoring GPU prices, 3DCenter, tweeted a chart displaying that the price improve for Nvidia playing cards in Germany has elevated 9% since August.

The supply: 3DCenter.org

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