According to the analyst Mitch Steeves of RBC Capital, the increase in the price of the Ethereum raises the value of NVIDIA. Steeves argues that the increase in the price of Ethereum will use NVIDIA GPUS for mining. On Monday, shares of the manufacturer rose 1.67 dollars 216,60 dollars.
Steeves sees the NVIDIA GPU as the most powerful on the market currently. He explained that the processing time of transactions has declined significantly as prices have increased. The crypto-currencies, such as Ethereum, Monero, Zcash and Bitcoin have seen an increase this year. The market capitalization of the digital currency has exceeded for the first time the mark of 300 billion dollars.
The extraction time of Ethereum is reduced
The extraction time of Ethereum is now about 5.6 months. Before the increase, it was 9.4 months, confirms Steeves. This situation accelerates the use of GPUS for mining, and could lead to the growth of NVIDIA.
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This analyst has attributed the increases in the price of crypto-currencies to institutional investors. They now recognize the value of the digital currency. It is expected to see more investments on this market.
The progress of technology
The technology of crypto-currencies continues to grow at a pace surprising. The network Lightning of Bitcoin has also developed, ” says Steeves. According to this analyst, the update Metropolis of Ethereum has strengthened the confidence in the crypto-currency. It is difficult to know if the increases will be sustainable or not, ” says Steeves. It has advised users to invest in all the crypto-currencies mined with the GPU over the next two months.
The increase of 2 000 % of the price of Ethereum this year led the miners to acquire graphics processing units from AMD and NVIDIA to exploit the crypto-currency. This has contributed to the increase in demand. NVIDIA has benefited from a gain of $ 150 million thanks to the miners of crypto-currencies.
Source : CryptoCoinsNews