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Shark Tank Investor Mark Cuban is often seen making statements about the crypto industry. Recently, the billionaire stated that he believes Cardano might be a greater smart contract platform, Dogecoin has more potential applications.
Cuban told in an interview why he doesn’t measure an inherent value of cryptocurrency with its market cap. He explained, if someone does enough staking and also faces inflation then he can stake enough leading to people not selling enough. Hence, he is going to have a large market cap. He said this while talking about Cardano’s position in the Top 10.
According to the data from CoinMarketCap, Cardano has a market cap of $17.8 billion, while DOGE’s market cap is just $9.2 billion. The billionaire called Dogecoin and Shiba Inu as examples of “huge market caps.”
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The Next Big Application Is On Cardano
Cuban further said that in comparison to Cardano, DOGE has more applications potentially available to it. The billionaire said that DOGE really becomes a platform for applications. There is opportunity for Cardano. Cuban said the blockchain-based crypto projects are still a business despite their market cap or how they are positioned.
Cuban said he failed to see any great impact from the cryptocurrency after analyzing the number of transactions on the Cardano blockchain. However, he said there would be a significant opportunity for it if the next big application that everyone wants to use is built on Cardano.
The billionaire also said he believes that there are high chances that the next big application is built on Cardano. Cuban said the door is wide open, but it hasn’t happened till now. At the time of writing, the price of ADA stood at $0.5459, experiencing a 5.86% rise in the past 24 hours. Meanwhile DOGE was $0.07117, 4.11% increase in the same period.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
