Mark Cuban Says Building Blockchain Apps With Better Utility Could Push Cryptos Higher Again

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“You look at the market caps, and you see it’s a billion dollar plus market cap or $6 billion or $8 billion or $40 billion you don’t look at that and go ‘that’s cheap.’ If you remember back to DeFi Summer, these things were selling for less than a penny and their market caps were in the hundreds of millions.”

He also said that even with lower market cap cryptos “there’s no utility,” and gives an example of the decentralized exchange (DEX) SushiSwap (SUSHI) token as a “relatively cheap” buy with its $215 million market cap, he added:

“You get paid it if you’re a liquidity provider, but then who’s going to buy it from you? What’s the reason to buy it from you?”

Cuban believes mergers between different protocols and blockchains will push the crypto industry to consolidate, as “that’s what happens in every industry.”

“I’d rather get with somebody who says ‘let’s do a roll-up,’” with Cuban saying that he’d support a merge of various blockchains, close others and then move applications and communities over to just one and offer a token exchange or bridge from the closing blockchains to port users over: