Repost Admin
The prices of many popular GPUs, such as Nvidia’s RTX3080, have dropped by nearly 60% over the last 90 days across some parts of the globe.
Ethereum’s long-awaited transition to a proof-of-stake (PoS) consensus mechanism kicked off on Sept. 15, thus finally putting its long-standing transaction woes in the rearview mirror. To this point, the network is now capable of processing anywhere between 20,000–100,000 transactions per second (tps) as opposed to its previous rate of just 30 tps.
Furthermore, the Merge also saw the Ethereum network become up to 99.9% more energy efficient as compared to its previous iteration, thus allaying fears of its excessive energy consumption, a criticism that still lingers quite heavily in relation to Bitcoin (BTC).
Amid these developments, however, a question that has continued to pique the interest of many crypto enthusiasts: “What happens to the graphics processing unit market now that the transition has concluded?”
It is worth noting that following the Merge, the blockchain transitioned from its energy-intensive proof-of-work (PoW) mechanism to a PoS framework. As a result, miners that used to process transactions and produce blocks were replaced by ecosystem participants who can now stake their Ether (ETH) holdings to become network validators. As a result, Ethereum-centric graphics processing unit (GPU) mining has been entirely eliminated from the picture.
The numbers don’t lie
After the conclusion of the upgrade, the value of numerous sought-after GPUs has dropped quite drastically. For example, reports indicate that the value of Nvidia’s highly popular RTX 3080 has dipped from $1,118 to approximately $700 (over the last three-month stretch) within China. Similarly, the price of GPUs manufactured by firms like MSI has dropped by $280 since late July.
Recent: Is Bitc
GIPHY App Key not set. Please check settings