Mark Cuban, Raoul Pal Talk DeFi, Target $20,000 Ethereum
- Raoul Pal and Mark Cuban took to Twitter to discuss pain points and advantages of cryptocurrencies.
- Pal painted an extremely bullish picture, predicting a $20,000 price target for Ethereum.
- Cuban’s nuanced discussion of Aave revealed a depth of DeFi knowledge that surprised many crypto natives.
Mark Cuban and Raoul Pal have shared their predictions on the future of the crypto space. Pal suggested that he thinks Ether could hit as high as $20,000.
Ethereum Drawing Institutional Interest
Mark Cuban and Raoul Pal are the latest big players to share their thoughts on crypto’s future.
The renowned investors engaged in discussions on Twitter this week, discussing Bitcoin, Ether, and various other cryptocurrencies. They both said they own crypto.
Pal has been especially positive about where he sees the space heading. In a thread posted yesterday, he suggested that Ether could outperform Bitcoin this year and even hit a price of $20,000 sometime in the future.
Earlier this month, he made the same prediction, sharing the view that Ether is trailing Bitcoin by one market cycle. In crypto’s last bull market, Bitcoin memorably soared to $19,600. Ether hit a high of $1,420 at that time, a mark-up of around 15% on its current value.
Pal also spoke of the higher risk of other lesser-known cryptocurrencies. “More risk = smaller size,” he said, in reference to his own portfolio.
Aave Enters Discussion
Mark Cuban also shared some of his views on cryptocurrencies and DeFi. He compared the market landscape to the Dot-com Bubble, a reference point many have used when pondering crypto’s future.
When known crypto proponent Tyler Winklevoss replied to one of his points, Cuban spoke about Aave, one of the leading DeFi protocols on Ethereum.
“Just the cost of moving crypto to AAVE is crazy expensive and the number of non-crypto options will increase,” he said, highlighting Ethereum’s widely-criticized gas issues.
He went on to say that he has owned crypto “from the early days of Coinbase” and makes an effort to “try to test and use all this stuff,” in response to a comment on his interest in Aave.
Aave’s founder, Stani Kulechov, also replied to say that Aave would be expanding to Layer 2 in the hope of reducing gas costs.
Cuban’s comments about the lending protocol caught the attention of many members of the crypto community, partly because it’s seen to occupy a relatively niche subsect of the cryptocurrency space.
Cuban is one of America’s most famous entrepreneurs. He’s known for owning the Dallas Mavericks and appearing on the ABC TV series Shark Tank. His net worth is estimated to be around $4.3 billion.
Ethereum, DeFi Continue Growth
The statements from Pal and Cuban come as Ethereum and DeFi enjoy continued growth. In December, DeFi hit 1 million regular users, though most institutional investors are currently more focused on Bitcoin.
DeFi is often described as Ethereum’s “killer app,” despite competition from the likes of Polkadot and Solana. The Total Value Locked (TVL) in DeFi has surged from $600 million in early 2020 to $22.5 billion today, according to DeFi Pulse. Of that figure, Aave accounts for over $3 billion.
Ethereum has also made significant progress since early 2020, launching its long-awaited Serenity upgrade and prepping its EIP-1559 “ETH buyback” adjustment. The price of Ether has risen, jumping 620% in 2020. This year, it’s been on a parabolic run alongside Bitcoin. It’s trading at $1,157 today.
That’s still short of the token’s all-time high and way off Pal’s $20,000 target. Still, some indicators suggest that the current market cycle is far from over yet.
Disclosure: At the time of writing, the author of this feature owned ETH and AAVE, among a number of other cryptocurrencies.
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
See full terms and conditions.
Source: Read Full Article