Billionaire investor Mark Cuban took to Twitter to share his thoughts on the recent drawdown in crypto prices.
What Happened: “Crypto is going through the lull that the internet went through,” he said in a tweet on Monday.
Crypto is going through the lull that the internet went through. After the initial surge of exciting apps, NFTs, DeFi, P2E, we saw the imitation phase as chains subsidized the movement of those apps to their chains (ala bandwidth and storage subsidies by startups in the 2000s)
— Mark Cuban (@mcuban) May 9, 2022
According to Cuban, the initial surge of innovation across blockchains was followed by an “imitation phase” by …
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