Crypto Crash: Bad news for investors, good news for gamers

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Gamers around the world have been waiting almost two years for a crypto crash to get their hands on a GPU at a reasonable price. Although it may seem that the day will never come as a coin after the coin goes to the moon, finally that day has come. The cryptocurrency has completely collapsed at the moment, with every major type of currency bleeding red. Although the “volatility” in the crypto market started a while ago, it all came to mind last week. With the market losing $ 200 billion in one day this week, all major cryptocurrencies have become a nascent one. If you have your retirement in crypto, our sympathies. If you’re waiting to buy a GPU, this could be your lucky break.

Bitcoin (BTC) is currently trading at its lowest level since December 2020. It has lost more than 60 percent of its value since November 2021, when it was over $ 65,000 per coin. As of this writing it is currently hovering around 28 28,700. Just a day ago it was over $ 30,000, so its price is fluctuating now. Bitcoins are not the only currency made by crypto miners, but tent coins are seen as a bellweather for the industry. Ethereum, which is more directly responsible for the GPU deficit, is also seeing significant fluctuations. This is currently below $ 2,000, the first time since June 2021. It has lost almost half its value in the last month, which is certainly making many miners very nervous.

Ethereum’s performance for one month ending on 5/12.

One of the main reasons for the recent freefall is the devaluation of the stablecoin TerraUSD, or UST. It is designed to trade with the US dollar in a 1: 1 ratio. According to Techspot, this is an algorithmic stablecoin that has been trading at around $ 1 for most of the year. This week it crashed at $ 0.29, causing a panic. Its $ 45 billion market cap fell to $ 5 billion in record time. There is a “support coin” called Terra Luna that has been credited. Last week it moved from $ 86 to just $ 0.20. The situation has gotten so bad that there is a sticky post with a national helpline number in SubRedit for Terra and Luna Coin so people can call if they are thinking of harming themselves. In addition to the Terra crash, the war in Ukraine and inflation have also been seen to affect the meltdown.

It is difficult to say now what this means for the future of cryptocurrency as an effective medium for financial transactions and investments. At the same time, there are probably a lot of people out there who think this is the best time to buy. However, this will definitely bring a market for GPUs, as we expect the flood of “light-used” mining cards to hit the market soon.Do No. If you value the longevity of your GPU, buy a used mining card – Ed). It can also help reduce the cost of GPUs in general. There have been problems of demand and supply for ages. Miners and bots have sucked up the entire GPU supply, raising prices in the process due to shortages.

The situation is still unfolding so it is difficult to understand what effect this will have on the GPU market. We certainly feel bad for those who have lost money by investing in crypto, but it has always been a risky investment. The “Doge Coin MillionaireThat in itself is the best, in response to the latest explosion. “Thinking you can invest in a “sound” crypto project by playing all kinds of bells and whistles like crazy and an incredible team behind it #Luna And still get a complete REKT. No one knows. “

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