EDUSELL
Financial Market Examiner
Midas Crypto Vault
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews
No Result
View All Result
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews
No Result
View All Result
Financial Market Examiner
No Result
View All Result
Home Crypto News

Crypto Crash Causes Sales of Hardware

Admin by Admin
June 29, 2022
in Crypto News
0
BlocFi bitcoin mining machine
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter
MMC MMC

The recent crypto crash has caused a lot in the crypto industry and has made crypto miners to put their hardware for sale.

The collapse of Terra’s LUNA & UST has led to meltdown in the crypto space. Prices of Bitcoin and other altcoins are closer to their all-time lows and has questioned the future of these digital assets.

While some small-cap altcoins are already fizzling out of the crypto space, some crypto exchanges have retrenched their staff. Crypto miners who make use of expensive hardware are also not excluded from this harsh times.

According to reports,  miners are dumping their high-end equipment in the resale market that has resulted in a crash in prices. The slump in price of graphics cards has been driven by dumping of these high-end pieces of hardware in the resale market by the crypto community.

Cryptocurrency mining requires users to solve a complex set of problems on the computers post which they unlock or mint new cryptocurrencies. These complex algorithms require high computing power to solve. Miners also use graphics cards designed for intensive gaming for this job. As prices crashed, mining of cryptocurrencies has become unviable since the process itself is very expensive.

Today, bitcoin, the most popular cryptocurrency, has shrunk to a third since November 2021 from $61,000 to $20,789 now. Ethereum, another popular cryptocurrency, has fallen nearly 70% since April to $1,203.

All these recent happenings have made many to ask if bitcoin and other cryptocurrencies would survive the harsh times.

Share on TwitterTweet
Share on Pinterest Share
Share on LinkedIn Share
Share on Digg Share
Tags: Cryptocurrency
Institutional Trading Concept Institutional Trading Concept Institutional Trading Concept
ADVERTISEMENT
Previous Post

GBP/USD: Pound will Need the Support of a Hawkish Central Bank

Next Post

Global Stock Markets Slips as Recession Looms

Admin

Admin

Next Post
Global stock market in recession

Global Stock Markets Slips as Recession Looms

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

  • 99 Subscribers
  • Trending
  • Comments
  • Latest
AUD USD pair

Forex: AUD/USD Point To More Downside For The Aussie

October 20, 2022
yen and dollar

FOREX-Yen Flirts With Intervention Level As Dollar See Gains

October 11, 2022
Virtual stadium in the metaverse

Why Virtual Stadium Can Be the Next Big Thing in the Metaverse

January 26, 2023
USDD Depegs

USDD Stablecoin Depegs To $0.96, Tron (TRX) Dumped

December 12, 2022
What is Initial Coin Offering?

Initial Coin Offering (ICO)

0
What is staking?

Staking

0
What is Defi?

Defi (Decentralized Finance)

0
Differences between Axie Infinity and Decentraland

Axie Infinity and Decentraland: Features and Differences

0
Signature Bank Faces Charges Overlooking FTX Fraud

Signature Bank Faces Charges Overlooking FTX Fraud

February 7, 2023
Makerdao Co-Founder’s Climate Change Initiative Meets Mixed Reactions

Makerdao Co-Founder’s Climate Change Initiative Meets Mixed Reactions

February 7, 2023
31% Of Investors Do Not File Crypto Taxes To IRS

Crypto Banking Firm Juno Resumed Crypto Services After Halt

February 7, 2023
Crypto Prices To Recover As DCG, Genesis, Gemini, And Creditors Reach Agreement

Crypto Prices To Recover As DCG, Genesis, Gemini, And Creditors Reach Agreement

February 7, 2023

Recent News

Signature Bank Faces Charges Overlooking FTX Fraud

Signature Bank Faces Charges Overlooking FTX Fraud

February 7, 2023
Makerdao Co-Founder’s Climate Change Initiative Meets Mixed Reactions

Makerdao Co-Founder’s Climate Change Initiative Meets Mixed Reactions

February 7, 2023
31% Of Investors Do Not File Crypto Taxes To IRS

Crypto Banking Firm Juno Resumed Crypto Services After Halt

February 7, 2023
Crypto Prices To Recover As DCG, Genesis, Gemini, And Creditors Reach Agreement

Crypto Prices To Recover As DCG, Genesis, Gemini, And Creditors Reach Agreement

February 7, 2023
Financial Market Examiner

Get all the latest Financial Market (Crypto & Forex) news, updates and other relevant resources here.

Follow Us

Browse by Category

  • Crypto News
  • Education
  • Forex News
  • Gaming
  • Reviews
  • Stocks

Recent News

Signature Bank Faces Charges Overlooking FTX Fraud

Signature Bank Faces Charges Overlooking FTX Fraud

February 7, 2023
Makerdao Co-Founder’s Climate Change Initiative Meets Mixed Reactions

Makerdao Co-Founder’s Climate Change Initiative Meets Mixed Reactions

February 7, 2023

© 2022 Financial Market Examiner. - Designed by Mayconcept Solutions.

No Result
View All Result
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews

© 2022 Financial Market Examiner. - Designed by Mayconcept Solutions.

?>