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Ethereum's upcoming update makes video card prices drop

Ethereum's upcoming update makes video card prices drop

Despite the price drop, Nvidia GeForce graphics cards are still not available in stores, including BestBuy and Newegg Commerce.

According to analysts at Susquehanna, the markup on the recommended retail price (MSRP) dropped from 77% to 41%. Moreover, at the beginning of the year, the cost of such video cards as the AMD Radeon RX6000 and Nvidia GeForce RTX30 steadily dropped from 80% MSRP to less than 20%. Prices of other processors also declined due to lower demand in the PC and smartphone markets. 

One of the drivers behind the drop in prices is the decrease in demand for cryptocurrency mining. GPUs are essential for cryptocurrency mining based on the proof-of-work consensus mechanism. Many popular cryptocurrencies, including Bitcoin, use it. However, the second most popular cryptocurrency, Ethereum, plans to switch to a proof-of-stake consensus, which uses token holders instead of miners. 

Earlier, we have already reported about a possible reduction in the price of graphics cards due to the upcoming major Ethereum update. 

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