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."