Chia Coin Price Down Nearly 30%, Huge Demand for Computer Storage Used by Chia Network Users Triggers Spike in HDD Prices
May 19 2021 · 14:53 UTC | Updated
8 hours ago
Photo: Unsplash
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Chia coin market price has jumped by approximately 30% in the past two weeks but now it is down nearly 30% in the last 24 hours.
A huge demand for high-capacity Hard Disk Drives (HDD) that are typically used by Chia network users in the Proof-of-Space and time concept, has triggered a notable shortage in the HDD supply market, according to research conducted by Tomshardware.
Reportedly, HDD market prices spiked in the United States as Chia users went in for more hardware storage to get frequent compensation for unused space. A similar case was observed with the graphic cards (GPUs) that are used in Ethereum mining.