It is important to remember that the purchase of Ethereum is certainly promising, but does not guarantee capital gains.
Mark Cuban emphasizes that upgrading The Merge would drastically reduce the power consumption of the Ethereum network by a factor of 1,000 and there is less than a month left for this to take effect.
This, he believes, is a significant aspect that could support the bullish case for Ethereum.
Nevertheless, the wealthy man refrained from giving price predictions as he is unsure how the cryptocurrency price would react in the near future after the upgrade.
Cuban believes there will be enough apps to propel the growth of the second largest network. The Shark Tank star has long been an Ethereum figurehead. To emphasize its attachment to the Bitcoin rival, it even went so far as to refer to itself as an “Ethereum Maxi” in November 2021.
Ethereum vs Bitcoin according to Mark Cuban
Cuban is certain that Ethereum will prevail against the Bitcoin because of its usefulness. Data from DefiLlama shows that Ethereum represents 58% of the total value locked (TVL) in the cryptocurrency market. Challenge.
The Dallas Mavericks owner, who once said bananas were more useful than Bitcoin, later changed his mind. He now sees Bitcoin as a sort of direct alternative to gold as a store of value.
At the same time, Cardano, one of Ethereum’s main rivals, continues to inspire Cuban with great skepticism. Despite its recent technological advancements, Cuban said the Dogecoin was more useful than Cardano!
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