Billionaire investor and owner of the Dallas Mavericks, Mark Cuban, shared his impressions around Ethereum (ETH) and Dogecoin (DOGE). Specifically, stating that Ethereum’s growth has no limits.
In a way, the second largest cryptocurrency by market cap, ETH, rose to new heights. In fact, Ethereum has been experiencing an explosive rally for the past two weeks.
In this regard, Mark Cuban, threw bullish forecasts for Ethereum and Dogecoin. Although he was slightly more optimistic about the future of one of them.
Ethereum’s growth has no limits
This Thursday, during the Ethereal Virtual Summit event, Mark Cuban said that Ethereum is transforming into a deflationary asset. Main reason why the billionaire believes that the cryptocurrency is proving that it does not actually have price caps.
In this way, during the conference, Mark Cuban observed how the growing number of ETH coins staked on the Ethereum 2.0 network is turning the second cryptocurrency into a deflationary asset.
Consequently, there are more than 4 million ETH pledged as collateral in the SmartContract. A multi-year initiative that aims to change the Ethereum Blockchain from a proof-of-work (PoW) consensus mechanism to a proof-of-stake (PoS) model.
Indeed, in conversations with Decrypt editor-in-chief Daniel Roberts, Mark Cuban commented that: “As a result it is effectively causing deflation for Ethereum».
In this regard, Mark Cuban argued that Ethereum’s recent price increase was driven by the decentralized finance ecosystem (DeFi). And, the amount of Ethereum staked on ETH 2.0.
«Between DAI and ETH 2.0, and all the staking they provide liquidity everywhere else, I wouldn’t be surprised if we get significant deflation. Which is one of the reasons Ethereum is skyrocketing so much».
DeFi and the Dallas Mavericks
Equally important, Mark Cuban also revealed that he has had conversations about DeFi with members of his NBA team. And he recommended that they learn a little more about the ecosystem.
For example, converting funds to DAI or Ethereum could turn out a good 4%, 5%, 10% if you go and convert a few things, he argued.
Mark Cuban and Dogecoin
Likewise, the billionaire pointed out that, in the long term, Dogecoin can behave like a stablecoin. Due to its use as a means of payment and its unlimited supply.
Ultimately, Cuban anticipated that the rise recorded by Dogecoin over the past few months will continue, pushing the coin towards new highs.
As some cryptocurrency meme fans have predicted, the billionaire believes that DOGE will hit its expected price of $ 1.
«Now for a while it will go down to 60, to 70, to 80 cents. But in the long run I think it could be set at $ 1, that’s my guess. But, it’s just a guess».
Ethereal Virtual Summit 2021
By the way, Ethereal Summit, which started in 2017, is a deep dive into Blockchain. The conference has always been known as a more flexible and less closed forum for experts to meet in frank conversations.
By way of closing, Mark Cuban indicated: «I think Ethereum really has no limits to how high it can go“, What’s your opinion about it? Let me know in the comment box.
I say goodbye with this phrase from Charles M. Schwab: «There is no possible limit to the expansion of each one of us».