How does the performance of NVDA affect the value of QQQ in the cryptocurrency industry?

1 answers

• Dec 16, 2021 · 3 years ago
  As a leading graphics processing unit (GPU) manufacturer, NVDA's performance has a significant influence on the value of QQQ in the cryptocurrency industry. The mining of cryptocurrencies heavily relies on GPUs, and NVDA's high-performance GPUs are preferred by many miners. When NVDA releases new and more powerful GPUs, it can attract more miners to use their products, leading to increased demand for QQQ. Additionally, positive performance by NVDA often indicates a thriving cryptocurrency market, which can further boost the value of QQQ.
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