Ethereum pricing has hit a new all-time high
Published: 2nd February 2021 | Source: Coindesk - For Etherium Pricing | Author: Mark Campbell
Ethereum pricing passes $1,500 - Cryptocurrency mining gets more profitable...
Ethereum pricing has just reached an all-time high of over $1,500, seeing the currency's value shoot up of over 10% today alone, with the currency's value shooting up by over 100% since the start of 2021.
Ethereum is one of the most popular cryptocurrencies to mine right now, and its rising value is having an impact on the GPU market. It is hard to purchase any new graphics cards with prices that come close to their MSRP values, and a lot of the reason behind that is the value of these components for cryptocurrency mining. Any further increases to Etherium's value will only make this problem worse, especially now that it has become clear that neither AMD nor Nvidia can do much to increase the market's supply of GPUs.
The past month has been a volatile time for the cryptocurrency market, with Bitcoin's value shooting past $40,000, dipping to under $30,000 and shooting up again to over $35,000 all within the past month. Even with this volatility, cryptocurrency mining has remained incredibly profitable, and that is unlikely to change within the near-term future.
In 2021, Etherium has outperformed Bitcoin by a significant margin, seeing its value shoot up by over 100% since the start of the year. In contrast, Bitcoin's value has only increased by 22%. That said, the value of both currencies remains in flux, and it may not take much for either to drop in value.
Ethereum is one of the most popular cryptocurrencies to mine right now, and its rising value is having an impact on the GPU market. It is hard to purchase any new graphics cards with prices that come close to their MSRP values, and a lot of the reason behind that is the value of these components for cryptocurrency mining. Any further increases to Etherium's value will only make this problem worse, especially now that it has become clear that neither AMD nor Nvidia can do much to increase the market's supply of GPUs.
The past month has been a volatile time for the cryptocurrency market, with Bitcoin's value shooting past $40,000, dipping to under $30,000 and shooting up again to over $35,000 all within the past month. Even with this volatility, cryptocurrency mining has remained incredibly profitable, and that is unlikely to change within the near-term future.
In 2021, Etherium has outperformed Bitcoin by a significant margin, seeing its value shoot up by over 100% since the start of the year. In contrast, Bitcoin's value has only increased by 22%. That said, the value of both currencies remains in flux, and it may not take much for either to drop in value.
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