The crypto market is in ruins; people are abandoning this ship because they think it is sinking and live footage of the crypto market at the moment verifies that the crypto market is being devastated pretty aggressively.
Bitcoin is almost gone as it has fallen off the $20K range, and it is continuously declining; Ether is barely managing, although the news was that because of the merge update approaching, the price of the crypto will be taking an upheaval, but nothing of the sort has happened yet. Apart from these two other cryptocurrencies are also struggling.
To reel in some good news, the GPU giants, both Nvidia and AMD, have confirmed that they will be cutting the prices of their GPUs in the future, come September to be precise. This is being done to sell off whatever units the companies have in storage and which are not selling yet.
This is essential do so because if these previous-gen CPUs don’t get sold, the company won’t have the finances or the momentum to build the next generation of GPUs, which is why it is necessary to clear out the previous stock that didn’t sell.
The situation has been pretty dire lately as it was the crypto market or crypto miners who used to buy or order from these vendors in bulk and then use these GPUs for the sake of mining.
Thus, creating a sense of artificial shortage within the market for these GPUs out there; this is the reason why gamers and casual people who want to use these GPUs for their intended purposes.
GPUs’ Demand Drops
But now, when the crypto market has gone bust and the mining activity has come to a halt, so is the demand for these GPUs, and the companies are having a hard time selling their stock which they earlier used to sell like hot cakes.
This is why the sale is to be slapped onto these GPUs and their prices slain so that they could sell these items away to develop newer and better technology.
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