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Ethereum

AMD Won’t Block Ethereum Mining on its GPUs

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  • AMD has no plans to restrict Ethereum mining on its graphics cards, the company said.
  • However, the company’s GPU architecture will be optimized with gamers in mind.

Hardware giant AMD is not planning to enforce any artificial limitations on the crypto mining capabilities of its graphics cards, the company told PC Gamer during a pre-briefing call for its Radeon RX 6700 XT graphics card on Wednesday.

“The short answer is no. We will not be blocking any workload, not just mining for that matter,” said Nish Neelalojanan, product manager at AMD.

Nvidia, AMD’s main (and only) competitor, has recently announced that it will enforce restrictions on new GPUs that would throttle Ethereum mining. However, the company later accidentally published a developer version of the driver for its RTX 3060 GPU that enabled users to bypass hash rate limits.

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AMD, by contrast, won’t even try to stand in the way of crypto mining, according to Neelalojanan. However, there’s a catch.

Neelalojanan explained that AMD is optimizing its chips for gamers first and foremost. “Clearly, gamers are going to reap a ton of benefit from this, and it’s not going to be ideal for mining workload,” he said. “That all said, in this market, it’s always a fun thing to watch.”

AMD’s RDNA GPU architecture is designed from the ground up for gaming, he explained. “RDNA 2 doubles up on this. And what I mean by this is Infinity Cache and a smaller bus width were carefully chosen to hit a very specific gaming hit rate,” Neelalojanan said.

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He explained that mining “specifically enjoys” high bandwidth, therefore there still will be some limitations from an architectural standpoint.

In other words, although AMD’s new GPUs can be used for mining, they aren’t the best choice in town. By way of comparison, high-end cards based on RDNA 2 infrastructures allow users to mine Ethereum at a hash rate of around 58-64 MH/s; Nvidia’s 24GB GeForce RTX 3090 can reach up to 120MH/s.

The shifting GPU mining landscape

Ethereum’s GPU mining landscape is bracing for change, with gamers and miners at loggerheads over the limited supply of GPUs on the market.

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In the short term, as noted above, Nvidia has attempted to place restrictions on its GPUs that would make them undesirable for Ethereum miners. In the longer term, both Nvidia and its rival AMD are looking to produce dedicated chipsets aimed at crypto enthusiasts.

However, the issue will eventually resolve itself as Ethereum moves to Ethereum 2.0. The long-awaited upgrade will see the world’s second-biggest cryptocurrency switch to a proof of stake consensus mechanism—which, in turn, will render GPU mining obsolete.

He explained that mining “specifically enjoys” high bandwidth, therefore there still will be some limitations from an architectural standpoint.

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In other words, although AMD’s new GPUs can be used for mining, they aren’t the best choice in town. By way of comparison, high-end cards based on RDNA 2 infrastructures allow users to mine Ethereum at a hash rate of around 58-64 MH/s; Nvidia’s 24GB GeForce RTX 3090 can reach up to 120MH/s.

The shifting GPU mining landscape

Ethereum’s GPU mining landscape is bracing for change, with gamers and miners at loggerheads over the limited supply of GPUs on the market.

In the short term, as noted above, Nvidia has attempted to place restrictions on its GPUs that would make them undesirable for Ethereum miners. In the longer term, both Nvidia and its rival AMD are looking to produce dedicated chipsets aimed at crypto enthusiasts.

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However, the issue will eventually resolve itself as Ethereum moves to Ethereum 2.0. The long-awaited upgrade will see the world’s second-biggest cryptocurrency switch to a proof of stake consensus mechanism—which, in turn, will render GPU mining obsolete.

 

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Ethereum

Here’s What Will Trigger the Next Big Ethereum Rally, According to Top Crypto Analyst

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A popular crypto trader is predicting what needs to happen for Ethereum’s (ETH) price to surge even further.

In the TechnicalRoundup newsletter, the pseudonymous analyst DonAlt says ETH is likely to underperform during a Bitcoin (BTC) breakout but will overperform later if the market rides “a multi-month uptrend.”

“As Bitcoin gets sufficiently pumped (very technical term) risk trickles down to lower market cap assets, including Ethereum.

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From a technical point of view, the market is in a range between support (low-mid $3000s) and resistance ($4000).

Given the relative strength of the market and the proximity to new all-time highs, a range breakout is more likely than a range breakdown.

Generally, triple tops aren’t compelling resistance structures, especially those that form at prior all-time highs.”

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Source: DonAlt/TechnicalRoundup

Ethereum is trading at $4,189 at time of writing, up more than 16% in the past week, according to CoinGecko. The second-biggest crypto asset by market cap hit its all-time high of $4,356 in mid-May.

DonAlt thinks Bitcoin currently offers traders more upside than downside.

“If you long Ethereum and you’re right, you’ll probably make less money than longing Bitcoin. If you long Ethereum and you’re wrong, you’ll probably lose more money than longing Bitcoin.

Our conviction on this isn’t incredibly high, but the likelihood of a Bitcoin-dominant breakout is one worth considering.

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In our view, the time to rotate into Ethereum will come once the breakout dust has settled. A large puke in Ethereum/Bitcoin would be a good time to start looking for punts.

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Mars Land NFTs Released on Ethereum, MARS4 Tokens Listed on Bittrex, Sushiswap

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Here’s how land plot on Mars can be obtained in a new-gen manner through NFT marketplace

Shortly after the release of an eccentric NFT-focused metaverse, the Mars Land project sees its core native utility asset, MARS4, listed by Tier 1 centralized exchange Bittrex and leading DEX SushiSwap (SUSHI).

Here’s how NFT instruments allow crypto enthusiasts to purchase land on Mars

The Mars4 team behind Mars Land, a novel digital collectibles project, has modeled a 3D map of Mars’ terrain based on the latest NASA data. The total area of Mars’ terrain is divided into 99,888 tokenized plots.

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Then, the NFTs associated with segments of Mars Land are available for sale as non-fungible tokens. Mars Land NFTs are minted on Ethereum (ETH) blockchain and can be utilized in various digital economic initiatives.

Namely, Mars NFTs can be locked for staking and utilized for liquidity mining; therefore, Mars Land NFTs evolved into a full-stack instrument of passive income for cryptocurrency enthusiasts with various levels of expertise.

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Mars Land NFTs are released in batches; 10,000 tokens are listed per epoch. Starting from Epoch 1, 51% of the income generated is redistributed among current NFT holders. By mid-October, there are more than 50,000 NFTs in circulation.

MARS4 listed on CEXes and DEXes: Why is this crucial?

Mars Land adheres to a dual tokenomic design: its architecture includes NFTs and MARS4 dollars. In total, there are four billion MARS4 tokens in circulation.

MARS4 tokens are now available on Bittrex, a veteran centralized cryptocurrency trading ecosystem. Bittrex offers the widest range of assets amidst all CEXes working in the United States.

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Also, MARS4 tokens can be purchased on leading Ethereum-based decentralized exchange, SushiSwap (SUSHI). On SushiSwap (SUSHI), MARS4 tokens can be staked as well.

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Ethereum Whales with 1 to 10 Million ETH Add 13.9% Coins As Ether Approaches ATH

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Large holders of Ethereum have been buying large amounts of Ether on a steady basis since August, an analytics report says

Top Ethereum wallets have been adding Ethereum steadily since August and keep doing so even as the price is approaching the all-time high reached in May.

Top ETH whales buy another 13.9% of Ether

Santiment on-chain data provider has tweeted that Ethereum wallets holding from 1 to 10 million Ethereum have been purchasing massive lumps of Ether in the past three months.

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Over this period, they have acquired 13.9% of the Ethereum supply and keep adding more, even though the Ether price has soared to the $4,200 zone, inching closer to surpassing the May all-time high of Ethereum.

Non-exchange ETH whales hold 5x more ETH than whales on exchanges

According to a Santiment tweet published earlier in October, the ratio of non-exchange and exchange crypto whales and their ETH holdings now constitutes 5:1.

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Crypto whales now hold five times more Ethereum on non-exchange wallets than other whales hold on exchange addresses.

The ETH holdings of the former now total 22.91 million Ethereum compared to only 4.6 million ETH stored on addresses based on crypto exchanges.

Besides, in July, the top 10 Ethereum addresses acquired big amounts of ETH and, back then, they held 20.58% of the second-largest cryptocurrency.

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In the meantime, as reported by U.Today earlier, ETH exchange supply has been declining substantially as investors have been withdrawing Ether to cold wallets for long-term storage. This may be one of the main reasons for the growth of the Ethereum price.

Ethereum inches closer to its May peak

On May 12, Ether managed to reach a historic rise, soaring to a $4,362 all-time high. Since then, ETH has dropped twice to the $1,780 low (in June and July). In early August, it surpassed the $3,000 level after the implementation of EIP-1559 (also known as the London hardfork) on Aug. 5.

At the end of last week, Ethereum recovered the $4,000 line and, on Wednesday, it surged to the $4,239 price mark, following Bitcoin hitting an all-time high of $66,930.

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Along with the EIP-1559 upgrade, a burning mechanism for Ethereum was rolled out for ETH fees. Since then, large amounts of Ether have been destroyed, which makes the ETH supply smaller and more deflationary, helping its price to rise.

As of Oct. 11, more than 500,000 ETH have been destroyed. Over the past 30 days, around $824 million worth of Ethereum fees have been burned.

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