Mark Cuban Predicts the Disappearance of Crypto Projects Without Real Prospects

The current crisis in the cryptocurrency industry will lead to a cleansing of the sector, and breakthrough projects launched during the bear market will ‘always succeed.’ This was the view expressed by billionaire Mark Cuban in an interview with Fortune.

He compared traditional equities and the cryptocurrency market. According to the entrepreneur, the disappearance threatens companies that have relied on cheap, easy money but lacked real commercial prospects.

As Warren Buffett says: ‘Only when the tide goes out can you see who\’s swimming naked,’ Cuban noted.

In May of the algorithmic stablecoin TerraUSD (UST) and LUNA began to fall amid outflows from the Anchor protocol as the deposit yield dropped to 17.87%.

On June 13, the Celsius crypto-lending platform suspended withdrawals, trading, and transfers between accounts ‘due to extreme market conditions’.

The Celsius incident coincided with the broader crypto market crash. Bitcoin price fell below $23,000, Ethereum quotes plunged below $1,200.

Problems also began for the algorithmic stablecoin USDD from Tron and the hedge fund Three Arrows Capital.

In May Cuban predicted the collapse of blockchain projects that copy what ‘everyone has’.

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