BingX Releases Version 3.11 Update
2022-08-25
Ethereum Foundation Confirms the Merger Date
2022-08-26

Nvidia’s Second-Quarter Net Profit and Game Revenue Fell 72% and 33%

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Today’s Cryptocurrency Headline

Nvidia’s second-quarter gaming revenue was $2.04 billion, down 33% year-over-year and a 44% decline from the first quarter. In addition to the macro environment, Nvidia CFO Colette Kress said “As noted last quarter, we had expected cryptocurrency mining to make a diminishing contribution to gaming demand; we are unable to accurately quantify the extent to which reduced crypto mining contributed to the decline in gaming demand.” Furthermore, Nvidia’s total revenue in the second quarter was $6.7 billion, up 3% year-on-year, and net profit was $656 million, down 72% year-over-year.

BingX’s Bitcoin Chart

Source: TradingView & BingX

According to the OKLink data, Ethereum miner addresses have transferred more than 317,000 ETH since August. Bitcoin is up 1% over the last 24 hours and rose to an intraday high of $21,900.00. The largest cryptocurrency has been trading in a tight range between $20,800 and $21,500 since 19 Aug, indicating the demand dries up at higher levels. If bears manage to push the price below this zone, a deeper drop towards $20,000 could be expected.

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