‘I couldn’t sell it because I didn’t have it’ graphics card… The recent drop in cryptocurrency prices ‘accompanying a plunge’

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As the price of cryptocurrency plummeted, the price of graphics cards used for mining also fell sharply.

(Seoul = News 1) Reporter Lee Chang-gyu = As the price of cryptocurrencies that had soared to the ceiling recently plummeted, the price of graphic cards that could not be sold due to lack of stock also plummeted.

According to Danawa, a price comparison platform, on the 25th, the prices of most of the graphic cards have fallen significantly compared to last month, when they peaked.

The price of the RTX30 series, which is widely used for cryptocurrency mining, has plummeted on average by 40%. As of the third week of June, ΔRTX3060 is 784,000 won, ΔRTX3060 Ti is 1,002,800 won, ΔRTX3070 is 1,002,600 won, ΔRTX3080 is 1,728,000 won, ΔRTX3090 is 2,969,700 won.

This is an average of 40% lower than last month. Last month, in the RTX30 series, the ΔRTX3060 went up to 1,448,800 won, the ΔRTX3060 Ti 1,959,300 won, the ΔRTX3070 2,041,500 won, the ΔRTX3080 282,400 won, the ΔRTX3090 soared to 3,823,900 won.

The drop in the price of graphics cards is due to the fact that the price of cryptocurrencies recently fell as China announced that it was banning cryptocurrency mining and trading. On the 21st, the price of Bitcoin, the major cryptocurrency, collapsed even below 40 million won.

As the demand for mining decreases due to the drop in cryptocurrency prices, online second-hand trading sites are posting articles selling graphics cards used for mining.

An official from a distribution company said, “The recent drop in cryptocurrency prices has led to a decrease in mining demand, and the supply and demand for graphics cards have also been able to afford them, so the prices have come down a lot.

Graphics cards used for cryptocurrency mining are being sold second-hand due to the drop in cryptocurrency prices.