Mark Cuban, the owner of Dallas Mavericks (Professional Basketball Team of America), appeared in an interview at CNBC where he shared his opinions about cryptocurrencies, and he believes that in the coming time, Ethereum (ETH) will dominate Bitcoin (BTC). Mark Cuban is the billionaire owner of the American Basketball team and also being involved in the crypto field as he has invested a lot in cryptocurrencies. Ethereum’s performance has been significant from the last month and particularly from the last week as Ethereum (ETH) has shown a rising growth ratio by 40% within a fortnight and 60% during the following month.
Currently, Ethereum is not only giving a hard time to dollars’ worth, but it is also competing against Bitcoin (BTC) for the last couple of weeks. ETH is remarkably giving a tough competition to BTC as now ETH’s dominance is standing at 16.9% while BTC’s dominance sits at 44.3%, which is considered to be the lowest in the last three years. It would be not wrong to say that Bitcoin is currently leading ahead of Ethereum just by 27.4%, which ETH is seeking to cross due to its rising demand in the market as many institutional customers, whales, and people are shifting their intentions and investments from Bitcoin to Ethereum.
In the interview, he justified his stance by providing three logical shreds of evidence that why he thinks that Ethereum (ETH) will outperform Bitcoin (BTC). In the interview, he also disclosed his interests and investment in cryptocurrency and particularly in Ethereum. He used the specific world mentioning that how Ethereum is going to dwarf Bitcoin in the future as he explained with the help of below mentioned three reasons.
The first stance he gave was about the rapid and processed transactions made by Ethereum per second. Cuban believes that Ethereum is efficiently capable of processing a great number of transactions per second which is a good and aiding stance for its admiration. Moreover, he said that ETH is being involved in developing new applications and becoming the new trend of payment solutions which is the ultimate cause of its rising demand.
Secondly, Ethereum is offering diversified types of transactions. Cuban shared that Ethereum has got distinguished status as compared to Bitcoin as ETH is collaborating with various payment solutions via smart contracts. ETH is allowing the developers to develop a diversified and wide range of applications for transaction purposes. Due to enhanced growth and demand in the crypto industry, ETH seems to be the new era of advanced and digital finance.
Thirdly, he believes that Ethereum is upgrading itself with the passage and need of the coming time. It has already launched its blockchain technology named Ethereum 2.0.
The purpose behind launching this blockchain was that Ethereum’s impact would be greater than expected earlier.