Mark Cuban Talks About Why He’s ‘Super Bullish’ on Ethereum

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Last Updated on 26 August 2022 by CryptoTips.eu

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Mark Cuban, ‘Shark Tank’ star, recently did an interview detailing why he’s super bullish on ETH. Ethereum’s Merge is currently the most trending topic around this dApps platform. Without a doubt, this merge is set to put Ethereum back on the map, even though it’s still the second largest cryptocurrency by market cap.

The merge is set to take place within less than a month from today, drastically cutting Ethereum’s energy consumption down by a factor of 1000. That will change how people interact with the platform. More importantly, it will be beneficial for anyone transacting on the network.

In an interview with Fortune, Cuban stated that the merge would likely strengthen ETH’s bullish run. However, throughout the interview, Cuban refrained from giving any price prediction of the dApp’s platform coin. He said he doesn’t know how ETH’s price will react to the merge in the short term. All in all, Cuban believes that this merge will drive the adoption of Ethereum’s blockchain through the roof.

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Quick Recap: Ethereum Merge

As we speak, two different Ethereum layers are running simultaneously. One runs on the POW algorithm, the old layer, and the latest one runs on the POS algorithm. The POS algorithm is set to correct some of the significant challenges of the Ethereum network, including scalability and the high gas fees. Once the merge happens, Ethereum will entirely run on POS, hence the fuss around this merge.

In his previous discussion on his support for Ethereum, Cuban repeatedly stated that this network’s applications and use cases are the main reasons behind his support. He mainly focused on smart contracts.

Cuban publicly said he owns Ether alongside other cryptos such as Dogecoin and Bitcoin. His portfolio also includes NFTs and other investments in the blockchain industry. The majority of his investment is focused on the betterment of Ethereum.

Once the merge happens, Ethereum’s energy consumption will decline by 99.9%. That’s why high-profile individuals such as Mark Cuban invest heavily in this coin.

Binance will support the Ethereum Merge

Binance has also shown significant support for the Ethereum merge, giving its users constant updates on what will happen and when. Additionally, Binance said it would support withdrawals in case of potential ETH forks, subject to review by the platform’s tech team.

The exchange will suspend ETH token withdrawals in preparation for the upgrade.