Crypto News

The RLWC 2021 is Coming Soon, CoinEx Cheers for Athletes as the Exclusive Cryptocurrency Trading Platform Partner

The Rugby League World Cup (RLWC) 2021 is set to kick off with a match between England and Samoa men on 15 October at St James Park and conclude in Manchester with the wheelchair final on 18 November and the men’s and women’s finals in a spectacular double header at Old Trafford on 19 November. For the first time in tournament history the men’s, women’s and wheelchair competitions will take place at the same time with all 61 matches set to be broadcast live on the BBC, with over 600 players and 32 teams taking part in fixtures across 17 host towns and cities and 21 stadiums across the country including London, Manchester, Newcastle, York, Leeds, Coventry, and Sheffield. This year’s tournament, delayed from 2021 to 2022 due to the Covid-19 pandemic, will be the 16th edition of the Rugby League World Cup and world-renowned crypto exchange Coinex will be cheering on all the teams as the Exclusive Cryptocurrency Trading Platform partner of the tournament Cryptocurrencies are playing an increased role in the sports industry and CoinEx are committed to making crypto trading easier, striving to become a gateway for global crypto users providing easy-to-use crypto products and pleasant, convenient crypto trading experiences. Available in 16 languages, including Chinese, English, Spanish, French, and Portuguese, CoinEx offers products and services that span spot trading, futures contracts, margin trading, mining, AMM, CoinEx Dock, Pledging, etc. The exchange provides easy-to-use, secure, and reliable crypto trading services for over 3 million users across more than 200 countries and regions. Additionally, it features trading sections for BTC, BCH, and stablecoins, as well as 600+ first-rate, innovative cryptos, providing crypto users with more trading options. Over the last year, CoinEx has earned user recognition with easy-to-use products, fast, stable performance, and smooth deposits/withdrawals. CoinEx is now looking forward to witnessing the extraordinary performances of the competitors at RLWC2021 and being part of the biggest, best and most inclusive Rugby League World Cup in history.        

Bitcoin Crypto News

Crypto Bust: China Collars 93 For Laundering $5 Billion In Digital Currencies

China has become a hotbed of illicit crypto trade lately. The country has earned quite a reputation in the international community when it comes to scams and illegal activities involving cryptocurrencies. Recently, there have been a number of nefarious activities originating from the country or involving Chinese nationals.  For instance, in June 2021, more than 200 […]

Crypto News Ethereum

China Reports GPU Price Fall To All-Time Low Post Ethereum Merge

The successful Ethereum upgrade to proof-of-stake consensus is receiving more backlashes from the market. Therefore, the Ethereum upgrade should produce only positive feedback, but where there are merits, demerits must exist. One of the aftermath challenges the industry faced since the Ethereum upgrade was the drop in GPU prices. Graphic Processing Units (GPUs) in crypto mining increased over the years because they proved very efficient. Related Reading: TA: Ethereum Price Needs To Clear $1,400 For Hopes of a Fresh Rally GPU companies were earning huge profits due to the increased demand from ETH miners. However, it is no longer so, as the price of GPUs has dropped drastically over the past three months. Furthermore, the prices of GPUs dropped further after the upgrade. Is Ethereum Merge Major Cause Of GPU price Crash? South China Morning Post (SCMP) reported that GPU prices in China dropped to the lowest due to the Ethereum merge. ETH mining has reduced. So miners’ demand for GPU went low. Miners’ demands for expensive cards such as GeForce RTX 3080 and RTX 3090 became low and caused a reduction in price to trice the factory prices. Also, due to the China mining ban and COVID lockdown, the demand for costly GPUs fell and worsened during the bear market. A Shanghai trader, Peng, told SCMP that RTX 3080 dropped by over 37% in the last three months. According to Peng, the price of RTX 3080 went from 8000 yuan ($1,140) to less than 5000 yuan (%712). Peng attributed the drop in the price of GPUs to the poor condition of the crypto market. Ethereum mining was one of the highest contributors to the high demand for GPUs in the past years. Traders noticed a slump in GPU prices as the Ethereum merge drew near. SCMP reported that retailers at ‘Buy Now,’ a large electronics market in Shanghai, are experiencing low GPU demand. Retailers Lower GPU Prices Chinese retailers reduced factory-suggested GPU prices by over 33% in a few weeks to sell their equipment. The reason for this is the crypto bear market and GPU correction market. According to data from Baidu, traders are losing the selling price compared to the factory cost of GPUs. Analysts estimated that the average price drop of GPUs per week is about 10%. Some reports show that NVIDIA, a large GPU manufacturer, is reducing the price of their GPU for board partners. This report is still unconfirmed, but it would likely cause further reduction in the coming weeks. Although the crash in GPU prices may adversely affect many businesses, others think it marks the end of two years of nightmare. Many GPU retailers would previously raise the prices as high as possible because of the high demand by miners. Related Reading: Litecoin Price Watch: Why Only 15% of LTC Holders Are Making Profit The crash in GPU prices could prove beneficial to AI coders, gamers, and other users because Crypto miners caused an unnecessary increase in GPU prices. Featured Image From Pixabay, Charts From Tradingview