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Why Mark Cuban Thinks Ethereum is Better Than Bitcoin

He’s more bullish on Ethereum than BTC

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He’s more bullish on Ethereum than BTC

Image by DonkeyHotey from Flickr

Mark Cuban is a major player in the crypto community, even more so than the “Dodgefather” himself, Elon Musk.

Although the Dodgefather pumps both Bitcoin and Doge on a consistent basis he stays away from discussing any prospective altcoins like, for instance, the second most popular coin by market cap, Ethereum.

On the other hand, Dallas Mavericks owner, billionaire tech investor and Shark Tank star Mark Cuban doesn’t just proudly boast his diverse portfolio of altcoins, he believes that Ethereum is a far better investment than Bitcoin.

“Ethereum right now has an advantage over Bitcoin as a store of value and transactional,” says Cuban in a podcast with the Defiant’s Camilla Russo. “As more people get into NFTs, all they’re going to know is Ethereum. I know everyone’s going to bitch at me. But, if I decided I like digital art how do I buy digital art — with Ether.”

Cuban added that smart contracts and DeFi make Ethereum a tour de force in the crypto industry.

Additionally, when speaking more about NFTs [or nonfungible tokens], he says they will someday soon include mainstream music, movies, trading cards, and even virtual land.

“This is like the early internet days all over again,” Cuban told a CNBC reporter. “I think [NFTs and blockchain tech is] going to be huge.”

Cuban was not always a cryptocurrency bull.

In 2019 he made headlines when he said he’d “rather have bananas than Bitcoin,” calling crypto “too complicated.”

He touted Bitcoin as an excellent store of value, but believed it was too slow and immutable to become a global transactional currency. Cuban eventually came around on Bitcoin, however, saying it’s a better investment than gold due to its algorithmic scarcity.

As for Ether, he says he’d rather buy more Ethereum on a price pullback than Bitcoin.

“When Bitcoin pulled back to $30,000 I didn’t buy more,” Cuban told Camilla Russo earlier this year. “When Ethereum pulled back to $1,000 I did buy more — and if it did that again I’d buy more”

Cuban is more bullish on Ethereum because of the applications [or DApps] that can be built on top of the platform, namely DeFi, yield farming tools and NFT marketplaces; all of which do not exist on Bitcoin’s blockchain.

He even amassed his own digital art collection and sells NFTs on platforms like Mintable and Rarible. In particular, he believes the lifetime royalty fees offered to NFT artists will shake up the entire entertainment and art industries.

“When I realized there was a little thing called resale percentage, so that when I put up something for sale and it got resold I’d get a percentage for life — that changes how music, video, and how the internet works forever.”

“Make no mistake — Ethereum would never have existed without Bitcoin as a forerunner. That said, I think Ethereum is ahead of Bitcoin in many ways and represents the bleeding edge of digital currency.” — Fred Ehrsam, co-founder of Coinbase

Cuban would likely agree with the aforementioned quote. He isn’t selling his Bitcoin anytime soon — unlike yours truly — and believes nothing will ever dethrone Bitcoin as the ultimate store of value.

However, digital art, the DeFi ecosystem, NFTs, yield farming, and decentralized applications work best on Ethereum and will attract more people into cryptocurrency in the long run.

This year alone Tom Brady, WWE, Trevor Lawrence, the NYSE, Snoop Dog, Mike Shinoda Grimes, Elon Musk, Aphex Twin and even Tony Hawk have released their own NFTs. I fully believe their fanbases will get behind their favorite artist — or stock exchange — and learn more about Ethereum in the process.

Both Bitcoin and Ethereum will coexist, but only one will become a global computer utility token while the other does one single thing really, really well.

“Bitcoin, right now, has evolved to be primarily a store value, and it’s very difficult to use it for anything else,” Cuban said in an interview with Market Insider. “You really have to work a lot harder on bitcoin than you do on Ethereum.”

He added: “In a few years, I think Ethereum and maybe 2 or 3 other blockchains will have their place, and those will be the winners.”

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://medium.com/yardcouch-com/why-mark-cuban-thinks-ethereum-is-better-than-bitcoin-187f8155f935?source=rss——-8—————–cryptocurrency

Blockchain

SHIB Token Surges by 1946.11% within a Week

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Today, despite the fact that most mainstream cryptocurrencies have fallen back, the SHIB token has proven to be the exception, rising by 123.63% in the past 24 hours. Within a week, SHIB token has surged by an impressive 1946.11%.

SHIB is the native token of the SHIBA INU network and is the first ERC-20 token to be listed and incentivized on ShibaSwap decentralized exchange.

Binance crypto exchange elaborated on SHIB token and said:

“SHIBA INU (SHIB) is an experiment in decentralized community building and another meme coin similar to Dogecoin.”

SHIB was officially launched in August 2020, when the decentralized finance market was making huge strides and growing exponentially. The founder of SHIB token Ryoshi issued a total of 1,000 trillion SHIB. 50% of the tokens were locked into Uniswap to provide liquidity, while the remaining 50% was allocated to Ethereum co-founder Vitalik Buterin.

SHIBA INU was launched on OKEx, Huobi Global, and Binance on May 8, 9, and 10 respectively. The cryptocurrency rapidly became popular within the crypto sector.

SHIB is also whimsically known as the ‘Doge Killer’ as SHIB, due to its relatively low price, is attracting Dogecoin investors.

The popularity of Shiba Inu Coins gained massive traction due to the following reasons:

Firstly, SHIB token’s initial starting price is relatively low. Therefore, investors can spend a small amount of funds and still gain hundreds of thousands of SHIB. For new-entry investors, the entry barrier is relatively low.

Secondly, due to the extremely high FOMO (Fear of Missing Out) sentiment in the bull market, SHIB token quickly gained a lot of traction. Investors, fearing that they were missing out on an incredibly opportunity, jumped on the chance to invest in SHIB, as they did not want to miss out on any chance of getting rich.

The third reason why SHIB surged by so much in so little time is due to billionaire Elon Musk’s endorsement of Dogecoin. Elon Musk tweeted on May 7 that he was looking for a Shiba pup, sending SHIB higher.

Shiba Inu (SHIB) has now entered the top 20 rankings of CoinMarketCap and is currently ranked No.17. It may well be a trader’s response to the hype surrounding Dogecoin (DOGE).

At the time of writing, SHIB is trading at $0.00003225.

Image source: Shutterstock Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://Blockchain.News/news/shib-token-surges-1946.11-within-week

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Ark Invest’s Cathie Wood Joins Board of Crypto Firm Amun Holdings

The CEO of Ark Invest has joined the board for crypto technology platform Amun Holdings.

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In brief

  • Cathie Wood, CEO of Ark Invest, has joined the board of Amun Holdings.
  • Wood has also bought millions of dollars worth of Coinbase shares in recent weeks.

Cathie Wood, CEO of investment management firm Ark Invest, has joined the board of crypto company Amun Holdings, per a report published by Bloomberg yesterday. 

Wood joined the Amun board after personally investing in 21Shares AG operators, which specializes in exchange-traded products (ETPs). 

“21Shares is forging a new path for crypto ETPs by leading with research and a keen understanding of this developing asset class,” Wood said, adding, “I am thrilled to support its efforts.” 

What is Amun Holdings? 

Amun Holdings is a crypto firm and ETP provider based in Zurich, Switzerland. 

The firm currently has approximately $2 billion in assets under management; a sharp increase from its March 2020 figure of $27 million, according to CEO Hany Rashwan. 

The firm is also profitable, with annual revenue of up to $50 million being generated from a mix of institutional and retail investors. 

“We built the company to make crypto as accessible as stocks and have seen tremendous demand for our products,” Rashwan said. 

21Shares Short Bitcoin ETP is one of Amun’s offerings. It allows investors to bet against Bitcoin. In turn, the 21Sahres Crypto Basket Index tracks the top five cryptocurrencies by market value. 

Amun and 21Shares products are listed on exchanges in Switzerland, Austria, and Germany. Amun plans to list its first non-European product in the coming months. According to Bloomberg‘s report, this expansion might see as many as 30 products established in eight countries. 

This isn’t Wood’s first involvement with the crypto industry. According to The Block, Woods has bought a total of $356 million worth of Coinbase shares, first purchasing $246 million on April 15, and then buying another tranche of shares worth $110 million the following day.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://decrypt.co/70494/ark-invests-cathie-wood-joins-board-of-crypto-firm-amun

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UBS Group Reportedly Planning to Launch Crypto Services to its Wealthy Customers

The Swiss multinational investment bank, UBS Group AG, is reportedly in the works of launching several cryptocurrency services.

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The trend of giant banks developing crypto services is expanded beyond the US with Switzerland’s UBS Group AG. The institution plans to enable its wealthy customers exposure to digital asset investments later in the year.

  • By citing people familiar with the matter, Bloomberg reported that UBS Group AG is in the “early stages of planning to offer wealthy customers digital currency investments.”
  • The bank, based in Zurich, Switzerland, with over $1 trillion in Assets Under Management, is looking into several alternatives for its crypto-related services.
  • Nevertheless, the organization has warned about the infamous volatility of the digital asset sector and will enable its clients to allocate only a “very small portion” of their total wealth.
  • One of the discussed options suggested that institutional customers will be able to receive crypto exposure through third-party vehicles.
  • Interestingly, Bloomberg’s report arrives just a few months after the financial service company working under the UBS Group AG hat – UBS Global Wealth Management – warned that the entire cryptocurrency sector could plummet to zero.
  • Before UBS Group AG, numerous US-based banks initiated steps into enabling their clients to receive exposure to bitcoin and other digital assets.
  • BNY Mellon, the oldest American bank, led the charge this year after releasing BTC custodial services. Shortly after, Morgan Stanley followed by filing to receive BTC exposure for up to 25% for 12 of its funds.
  • Even the previous bashers, Goldman Sachs and JPMorgan, showed a pro-crypto approach. Goldman filed for a Bitcoin ETF, and its clients can now trade BTC derivatives, while JPM will reportedly launch an actively managed fund following the performance of the primary cryptocurrency.
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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptopotato.com/ubs-group-reportedly-planning-to-launch-crypto-services-to-its-wealthy-customers/

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Data Agnostic Oracle Network ORAO Chooses TRON’s Blockchain Over Ethereum’s

By breaching the high fees on the Ethereum blockchain, ORAO has chosen to launch its general data products on top of Justin Sun’s TRON.

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The data-agnostic oracle network supporting multiple blockchains, ORAO, will launch its general data product on top of TRON. The two parties announced a partnership earlier, with ORAO claiming it chose TRON due to the significantly lower transaction costs compared to other networks.

ORAO to Launch Products on TRON

Described as a “blockchain agnostic oracle platform built to support any number of chains,” ORAO operates with protocols working on top of Polkadot, Ethereum, Elrond, and other networks. The team behind it announced the partnership with Justin Sun’s TRON in a press release shared with CryptoPotato.

The statement informs that ORAO uses a “proactive rating system” to judge data upon submission, which means that “bad and malicious data never makes it to the buyer in the first place.”

Furthermore, its data oracles provide a wider variety of secure information working at high speeds – from local weather to the outcome of football matches and elections.

“One of the key strengths of ORAO are our Predefined Data Protocols, which greatly expand the variety of data products that providers can offer. However, while they make for fantastic flexibility, the fact remains that many of the data products they support would not be economically viable on a platform that is mired in congestion issues.” – commented Nikola Strahija – founder of ORAO.

The integration on TRON comes after the team examined other alternatives, including Ethereum. However, the notoriously high transaction fees and the “increased congestion,” which leads to a “growing need for a fast, scalable, and affordable base layer solution,” made TRON the most accurate option.

TRON’s Rapid Growth

Upon further explaining the decision to go with TRON, Strahija described Justin Sun’s brainchild as a “rapidly growing powerhouse” in the market.

The partnership between the two will also enable TRON users to receive data from other networks due to ORAO’s blockchain agnostic features.

“DeFi and crypto should not be limited to high net worth portfolios who can afford congestion pricing. We are seeing a rising trend of many top Ethereum projects moving to TRON. We are thrilled for ORAO to join the TRON Network and reap the benefits of a fast, affordable, and agile network.” – said Sun.

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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptopotato.com/data-agnostic-oracle-network-orao-chooses-trons-blockchain-over-ethereums/

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