Month: January 2022

There may be a silver lining hidden in the dark cloud that is the recent cryptocurrency crash — prices of gaming hardware made by the likes of NVIDIA Corporation (NASDAQ:NVDA) and Advanced Micro Devices, Inc (NASDAQ:AMD) appears to be finally be heading southwards.

What Happened: The drop in the prices of Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) from 50% of their value in November is leading to an erosion in prices of graphics processing units used in gaming.

Tom’s Hardware compiled one week’s worth of pricing data from late December compared to the past week, which showcased average GPU prices from eBay Inc (NASDAQ:EBAY). The data tracked prices of the latest graphics cards from both AMD and Nvidia. 

An Nvidia GEForce RTX3080 10 GB, which sold for $1,804.28 on average between December 20 and 27 on eBay, was going for $1,595.41 between January 17 and 24. This is a

Dragons are believed to hoard gold — but have you ever wondered what would happen if dragons hoarded cryptocurrencies like Dogecoin (CRYPTO: DOGE) or non fungible tokens (NFTs) instead of gold?

What Happened: British YouTuber Adrian Bliss — who has 1.7 million subscribers — has attracted attention to this thought in his satirical YouTube sketch.

The video starts with a knight confronting a dragon and asking it to handover its hoard. The dragon replies it has stored the hoard in a decentralized global open source network because it did not feel safe sitting on the hoard all day.

The knight then tells the dragon to give something it has, and finally comes out of the dragon’s cave holding nothing in his hand, but claiming to hold an NFT.

A voice in the background tells the knight, “You got mugged off, mate!”

See Also: How To Buy Dogecoin (DOGE)

Why It

Every week, Benzinga conducts a survey to collect sentiment on what traders are most excited about, interested in or thinking about as they manage and build their personal portfolios.

This week, we posed the following question to over 1,000 Benzinga visitors on altcoin investing: If you had $1,000 right now, would you buy the dip in Dogecoin (CRYPTO: DOGE), Shiba Inu (CRYPTO: SHIB), Ethereum Classic (CRYPTO: ETC) or Bitcoin Cash (CRYPTO: BCH)?

• Dogecoin: 40.6%
• Shiba Inu: 35.9%
• Ethereum Classic: 11.1%
• Bitcoin Cash: 12.4%

See Also: Is Shiba Inu A Good Investment?

Price Action: Given the price action of altcoins is often correlated to the price of Bitcoin (CRYPTO: BTC), it’s no surprise the broader altcoin market has been selling off this past week in sympathy with the apex-cryptocurrency.

Original meme cryptocurrency Dogecoin is lower by 7.75% at $0.132 at the time of publication. 

Ethereum-blockchain based Shiba Inu is also

Shares of crypto-related stocks, including MicroStrategy Incorporated (NASDAQ:MSTR) and Hut 8 Mining Corp (NASDAQ:HUT), are trading lower during Friday’s after-hours session amid a decrease in the price of Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH).

Bitcoin is trading 16% lower for the week at around $38,500 in Friday’s after-hours session.

Ethereum is trading 24% lower for the week at around $2,500 in Friday’s after-hours session.

See Also: Why This Former Money Manager Thinks Hyper-Growth Stocks Are Positioned To Rally

MicroStrategy is a provider of enterprise analytics and mobility software.

MicroStrategy is trading lower by 4.2% at $360.

Hut 8 Mining is North America’s innovation-focused digital asset miner.

Hut 8 Mining is trading lower by 3.2% at $5.20.