In Mark Cuban's Opinion, Cryptocurrency Startups With Strong Fundamentals Will Do Well

　　Following the collapse of the total crypto market capitalization below the $1 trillion level earlier this week, several crypto projects are suffering a severe economic downfall as a result.

　　In light of the current state of the ecosystem, Mark Cuban, the owner of the Dallas Mavericks basketball team and an Ethereum maximalist, is supporting ventures in the crypto business with strong fundamentals.

　　In an interview with Fortune, Cuban stated that events like the one now affecting the crypto business will expose and demolish enterprises that are being sustained by inadequate market fundamentals.

　　“In stocks and crypto, you will see companies that were sustained by cheap, easy money—but didn‘t have valid business prospects—will disappear,” the Shark Tank investor told Fortune. “Like [Warren] Buffett says, ’When the tide goes out, you get to see who is swimming naked.”

　　Companies like Celsius are currently unable to meet their withdrawal commitments after suspending this portion of their operations just before the start of the week, proving Cuban's point. Several initiatives, including Terra, have failed in the last month, while legacy corporations such as Coinbase, BlockFi, and Gemini have revealed plans to shrink their operations in order to save money.

　　These are not new to Cuban, but he maintains that there is light at the end of the tunnel because projects with strong fundamentals typically withstand this thorough bombardment.

　　“Disruptive applications and technology released during a bear market, whether stocks or crypto or any business, will always find a market and succeed,” he said.

　　Cuban is a Wall Street investor with a significant presence in the digital currency ecosystem. Cuban, a passionate supporter of Dogecoin (DOGE), is one of the long-term investors in the space. He has a number of NFTs and investments in blockchain startups to demonstrate that he knows the dynamics of the crypto market.

　　As a reminder, WikiBit is ready to help you search the qualifications and reputation of projects in a bid to protect you from hidden dangers in this risky industry!

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