Ethereum price, As we all know over the last few months there was a huge shortage of GPUs in the market specially the AMD RX series and NVIDIA 10s series which cause the price of the GPUs to skyrocket. But now due to the price drop of Ehereum these cards are started to saturate the used market.
Used GPUs flood the market as Ethereum price crashes below $150
As this week the Ethereum price drop below $200 as currency experienced a new difficulty spikes, making the Ethereum 20% harder to mine and significantly less profitable. Especially the areas with more than average electricity costs.
Now the Ethereum cost less than $150 which is less half of the currency peak value. Since the currency has the ability to bounce back. though it is difficult to Ethereum price go high over 250 in the near future.
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We saw a lot of listed used GPUs in the 2nd hand sales websites like eBay, and expecting more at the weekends as a lot of miners wind down their operations.
These developments could decrease the demand of new GPUs and the market will be flooded with used GPUs soon and may be the price could go down to normal again.
The sad fact is that this situation will likely be happened again and again, smarter cryptocurrencies will develop which means the GPU based mining will not truly die.