Billionaire Mark Cuban excited by Ethereum’s growth price potential

Team Luno
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Billionaire entrepreneur and television personality Mark Cuban has revealed his love of Ethereum in a series of bold statements about the cryptocurrency, noting that its price ceiling is “uncapped.”

 

Cuban recently pointed out there is currently over 4 million ETH stacked in Ethereum 2.0, an ongoing upgrade to the Ethereum network that forms part of a multi-year initiative to move the Ethereum blockchain from a proof-of-work consensus mechanism to proof-of-stake.

 

Staking is a process whereby users can earn yields on their cryptocurrencies by locking them up on the blockchain. At the same time, locked funds can be used to provide liquidity for DeFi platforms.

 

"That effectively is deflation for Ethereum,” said Cuban. “It wouldn't shock me if we're getting significant deflation, which is one of the reasons that ETH is skyrocketing so much. So that's why I think ETH really is uncapped in terms of how high it can go."

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Team Luno

On our way to the moon, we write about all things crypto. And don’t forget we’re humans too. Our blog conveys the views of Luno and the many unique opinions and characters within our team. We’ll never provide you with financial advice, and we urge you to conduct your own research before purchasing or trading any cryptocurrencies. It’s a brave new world out there, and the market can be volatile at times, so never trade with funds you can’t afford to lose. Want to let us know how much you love our blog? Tweet us @LunoGlobal.

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