There is a game-changing catalyst that could catapult Ethereum to even greater heights, will the price continue to make a new ATH?
In a recent tweet, billionaire investor and business magnate Mark Cuban revealed that a game-changing catalyst could take Ethereum to even greater heights. At press time, Ethereum price is trading around $ 3,853, recording an 18% gain over the past seven days.
Will the price of Ethereum increase strongly when it is constantly shilled by the big bosses?
The Dallas Mavericks owner told his 8.4 million followers on Twitter that Ethereum has the potential to take over the world of business.
The reason eth has a chance to blow up even bigger is that we have yet to really see business applications built on eth Smart Contracts start to happen. When they do, every company will be eth literate which will change the game. But L2s will have an important role to play too
— Mark Cuban (@mcuban) May 8, 2021
While the market currently has no shortage of competing platforms to be the leading smart contract protocol, Cuban stressed that Ethereum’s highly anticipated update to the Proof-of-Stake algorithm will close. a key role in maintaining its dominance.
“It’s hard to keep up with all the different options and there really aren’t many hedging mechanisms for others. Of course, the path of [ETH] 2.0 will be important.”
Cuban turned out to be a longtime Ethereum advocate. About a month ago, he shared with traders why they should buy Ethereum instead of Bitcoin.
“Bitcoin and Ethereum effectively are platforms that enable a lot to happen. But Bitcoin right now has really evolved to be primarily a store of value and it’s very difficult to use it for anything else. If you want, it’s become digital gold. You can use it as a platform that enables other things, but it requires a whole lot more, right. It requires wrapping or doing a variety of other things and it acts more as collateral than anything else in order for it to gain additional utility.”
After that, he shared about Ethereum with many praises:
“Whereas Ethereum, you know there’s just a lot more built-in utility in its organic and native form, right. Just the ability to use smart contracts organically and natively is just a significant difference right now. That’s not to say there aren’t Layer-2s on Bitcoin that, you know, create new value and create new opportunities. But you really have to work a lot harder on Bitcoin than you do on Ethereum.”
That is the story of Mark Cuban. And that’s not the only one shill Ethereum. In it, Europac global economist and strategist Peter Schiff predicted that Ethereum’s market cap could surpass Bitcoin.
While most crypto buyers realize that #Dogecoin is a joke, they don’t get the joke when it comes to #Bitcoin or #Ethereum. But as crypto speculators rotate into Ether, they must sell Bitcoin to fund the trade. Rather than Bitcoin flipping #gold it may be Ether that flips Bitcoin.
— Peter Schiff (@PeterSchiff) May 10, 2021
The ETH / BTC trading pair is up around 191% since the start of the year. Meanwhile, the Bitcoin Dominance Index has now fallen below 44% for the first time since July 2018. However, ETH is still down 53% from all-time highs measured in Bitcoin recorded on November 6th, 2017.
However, Schiff’s statement does not mean that he is an Ethereum fan as he likens both cryptocurrencies to Dogecoin – a joke of the market.
You can see the ETH price here.
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