Dogecoin, Ethereum Investment: Mark Cuban Support Could Lead to Price Boost

Dogecoin, Ethereum Investment: Mark Cuban Support Could Lead to Price Boost
Billionaire Mark Cuban supports the growth of cryptocurrency markets. He explains in detail his fascination with decentralized finance (DeFi) in a recent blog post. His conclusive statement says that the crypto world could be a model for future business success. Photo : Jack Taylor/Getty Images

Billionaire Mark Cuban supports the growth of cryptocurrency markets. He explains in detail his fascination with decentralized finance (DeFi) in a recent blog post. His conclusive statement says that the crypto world could be a model for future business success.

Cuban is a successful American entrepreneur and investor with an estimated net worth of $4.3 billion. He recently pointed out that he sees an opportunity for growth and success in crypto spaces. In his statement, he argued that the U.S. government and regulators need to start investing in cryptocurrency markets, or the U.S. would "lose the next great growth engine that this country needs."

Mark Cuban on Dogecoin, Ethereum Investment

In a nutshell, Cuban emphasized all the advantages and disadvantages of investing in Decentralized Finance projects which, in conclusion, should easily overcome the pre-existing market. He said that arguably, DeFi investments would only continue to grow in value in the long run.

DeFi projects best gains because of its seamless and advanced transaction features. As quoted from the blog, Cuban said: "Blockchain based businesses diverge quickly from traditional software and the difference is where the brilliance of crypto based businesses like Polygon/Matic and their competitors, from BTC to Eth and even to Doge coin come in."

Cuban also gave a prediction that cryptocurrencies will soon outperform traditional businesses. This is because average business establishments work to earn enough revenue and create their market capital. Cryptocurrencies, on the other hand, don't require capital or revenue specifically for investors and founders. Indeed, cryptocurrencies have a high liquidity a financial rate, with the blockchain being responsible enough to cover its own unique security and validity.

Note, however, that his blog post also warned against existing risks. Because DeFi projects are estimated to be highly successful, cryptocurrencies do not imply that every crypto blockchain of DeFi would work. In the rules of investment, values can change suddenly because of market trends and recent events.

Read Also: Dogecoin Price Prediction: New Meme Coin Supports Could Lead to Big Boost

Dogecoin, Ethereum Support Could Lead to Price Boost

Regardless, it is certain that cryptocurrencies like Dogecoin and Ethereum have Cuban's support. These next few weeks could bring out exciting results from this sudden development. Newcomer investors might gain better confidence in investing on the cryptocurrency market, so pre-existing investors could expect a price hike is coming in these last few hours.

In the CNBC reports, Cuban shared the market powers would soon shift. In his dialogue, he stated: "There are a lot of financial institutions that should be concerned. For one, banks should be scared."

However, take these reports and predictions with a grain of salt. Cryptocurrencies gaining the support of Cuban does not automatically equate to success. As previously mentioned, look for recent events or market trends that would ultimately affect the Dogecoin and Ethereum price value in the short ad long term.

Related Article: Dogecoin, Robinhood Investment: Mark Cuban Says It Can Be Good, But Here's His Advice

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