We are in “Great Relaxation”

in a Tweet reply Last weekend, billionaire businessman and cryptocurrency advocate Mark Cuban described the current price movement as part of a “great relaxation.” The comment was in response to Larry Cermak, the research director of The Block, and emphasized the meaning of “closing positions” caused by over-leveraged trading.

In response to the detailed description of Twitter in Newsweek, Cuba said: “If there is one thing that crypto enthusiasts will lose their way, it is that fundamentally speaking, there will be many participants, from token holders to Verifiers, miners and others will all be rewarded.”

Cuba and encryption

Mark Cuban is no stranger to cryptocurrency. The owner of the Dallas Mavericks, regular and serial entrepreneurs of “Shark Tank” has always been outspoken about smart contracts, NFT projects, and so on.

In the detailed email exchange Published by The Wall Street Journal Cuban columnist Andy Kessler described today’s NFT as the upcoming “proof of concept.” When asked about the use cases of smart contracts such as mortgages, Cuban further urged: “Smart contracts on the blockchain (especially Ethereum) are a huge game changer that every company will use.”

Of course, Mark Cuban also spent money on his lips. As an early investor in encryption tools such as OpenSea and CryptoSlam.io, And othersIn addition, given Elon Musk’s comments on Tesla and Bitcoin, he recently redoubled his efforts to allow his Dallas Mavericks to accept Bitcoin, Ethereum and Dogecoin ticket sales.

According to Mark, all this “is no different from the Internet in 1995. People are not sure about it, but in the end they see the role and value of the Internet. Smart contracts will swallow the software-as-a-service world.”

Related Reading| Cuba expects the number of bitcoin scammers to double, but fear of bans will continue

The volatility has just begun?

Cuba insists that the best projects will persevere.However, it is very likely roller coaster The ups and downs will continue.

CryptocurrencyFear and Greed IndexRecently reached an astonishing level 12, which is a rare level. In March 2020, the index scored approximately 10, and in April 2018, the index reached a record level of 16. At the time of writing, the index is currently 10 (“Extreme Fear”).

Volatility is nothing new, but been exacerbated recently| Source: CRYPTOCAP on TradingView.com

Mark Cuban’s love for Ethereum

Cubans understand without a doubt that Bitcoin is the most mature store of value in the current cryptocurrency field, but the project built on Ethereum seems to be one of the most exciting main players in the cryptocurrency field. Both his public statements and private investments have been emphasized. .

Cuban stated that the impact of Ethereum 2.0 “may be greater than we currently think” and has invested in projects such as Ethereum, such as Polygon.

Despite a difficult journey, the Cubans seem to have set their sights on the long-term.

Related Reading| This is why Mark Cuban considers Ethereum to be “the real currency”

Featured image from Pixabay, Charts from TradingView.com

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