In the first days of the new year, Ethereum crypto prices were hovering around $3,800. However, Ethereum prices have plummeted since then, losing 22% of their value. The price drops as low as $3,000, which negatively affects the profits of miners.
Ethereum, which reached an all-time high at the beginning of last November, reached as high as $ 4,800. It only took two months for the value to drop by 38%. That said, it’s worth noting that the cryptocurrency and Forex markets have traditionally slowed down during the holiday season.
Right now GPU miners will have a much harder time making a profit. The coin’s valuation has dropped 22%, while current gains are at their lowest since January 1, 2021.
As of January 10, miners can earn around $0.0468 per MH/s. Earnings in November were almost double that, at $0.0818 per MH/s. On the other hand, the rates are lower in LHR screen cards.
It is impossible to predict where the cryptocurrency price and mining profitability will go next. If this trend continues, GPU stocks and prices in the gaming market may also be positively affected. Unfortunately the chip stats are still not fixed, but there are still positive things for players sometimes.