Mark Cuban Sets Condition for Ending the Bear Market

Shifting focus to dapps and their development outside finance will attract a broader audience and halt the decline in the digital-asset market, billionaire Mark Cuban said.

The entrepreneur suggested that the market has not yet reached ‘cheap’ prices.

“The bear market lasts until a catalyst appears. That trigger could be dapps, or we could fall so low that people will say, ‘To hell with it, I\’ll buy a little'”, he said.

Cuban explained that amid the variety of NFT and DeFi apps, the appearance of a business-focused dapp with high utility could lead to a market turnaround.

As an example, he proposed creating a decentralized version of Quickbook — accounting software for small business.

Cuban pointed to the low usefulness of tokens on the market. For illustration, he considered SUSHI as a ‘relatively cheap’ purchase with a market capitalization of $215 million.

“You’re paid if you are a liquidity provider, but who will buy [the token] from you? Reason?”, he explained.

The entrepreneur predicted a consolidation of various protocols and blockchains, a pattern typical of ‘for every industry’. He expressed support for a scenario of moving apps and communities, but cautioned that such a consolidating network must have ‘ideas and reasons to use’.

Cuban said he is currently interested in DeFi tokens with carbon-offsetting. They simplify the process of meeting corporate obligations and have ‘potential’.

Earlier, the entrepreneur спрогнозировал the disappearance of crypto projects without ‘real prospects’.

Earlier, Cuban предсказал the collapse of blockchain projects that copy what ‘everyone has’.

Read ForkLog’s Bitcoin news in our Telegram — cryptocurrency news, prices and analysis.