Thursday, June 17, 2021

Mark Cuban Explains Why He Thinks Ethereum (ETH) Price Has a Chance to Blow up Even Bigger

Mark Cuban, the billionaire owner of the famous basketball team, Dallas Mavericks, has highlighted the reason why he thinks the price of Ethereum (ETH), the second-largest cryptocurrency by market capitalization, has a chance to blow up even bigger.

Cuban made this statement in response to the tweet posted by Frank Chaparro, the director of news at The Block, on 8th May 2021 about the strong possibility for Ethereum (ETH) to continue its current meteoric price surge.

Read Also: CoinMetrics: What Net Issuance of Ethereum (ETH) Would Look Like if EIP-1559 Burns 75% of Fees

According to Chaparro, he was at the market’s largest OTC desks with a question in relation to the current trend of Ethereum (ETH). He said he was told that the ETH market is currently experiencing an unusually high demand from corporate treasury allocators, which implies that the price of the cryptocurrency would continue to get bigger.

Frank Chaparro tweeted, “Back when Eth first crossed 3k, I asked traders at the market’s largest OTC desks if they thought the rally had legs. One thing they told me then was that corporate treasuries were ramping up allocations. Trend is continuing.”

Read Also: Ethereum (ETH) Is Now Larger Than Nestle, Bank of America, Mastercard as the Surge Continues

Mark Cuban Says Ethereum (ETH) Will Grow Even Bigger

In response to Chaparro’s testament, the billionaire entrepreneur, Mark Cuban pointed out that the price of Ethereum (ETH) has the chance to grow even bigger because the leading smart contracts platform is yet to really see business applications building on it.

According to Cuban, it will be a real game-changer once they start building. In this regard, the billionaire thinks that the launch of Ethereum 2.0 will play an important role.

Mark Cuban tweeted, “The reason eth has a chance to blow up even bigger is that we have yet to really see business applications built on eth Smart Contracts start to happen. When they do, every company will be eth literate which will change the game. But L2s will have an important role to play too.”

Read Also: Analyst Who Called $3,400 for Ethereum (ETH) Says $10,000 Is Next before the End of 2021

Ethereum (ETH) Hits New Price All-Time High

Ethereum (ETH) has remained resilient in its quest to grow beyond the imagination of many crypto community members.

A few hours ago, the cryptocurrency hit a new price all-time high of $4,326 and it’s one of the best performers among the top 10 cryptocurrencies in the last 24 hours. At the time of writing, ETH is trading at $4,321.78, with a relatively 10% price upsurge based on 24 hours estimation.

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Solomon Odunayo
Solomon has a growing passion for writing, this propelled him to keenly work on Eagles News Media for about two years before delving into the cryptocurrency and Blockchain industry he finds more interesting. He worked as a crypto Journalist and Editor at NewsLogical before joining Herald Sheets, owing to the priceless experience he has accumulated since he became a contributor in the crypto community.

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