Billionaire entrepreneur Mark Cuban is accumulating a new decentralized finance (DeFi) asset.
A dive into one of Cuban’s publicly known Ethereum wallets shows the Shark Tank star added 75 Olympus (OHM) to his portfolio on Saturday.
OHM is the native token of OlympusDAO. The project is attempting to create a decentralized, algorithmic reserve currency that maintains its purchasing power over time without utilizing any pegs to fiat currency.
The crypto asset launched in March and hit an all-time high of $1,479 one month later, before the crypto market downturn in May. Since hitting a May low of $164, OHM has rebounded and is now trading at $558.99 at time of writing.
The wallet that holds Cuban’s staked OHM has 93 other ERC20 tokens as well. Much of the wallet’s value comes from Ethereum-based utility coin Global Messaging Token (GMT) and RARI. RARI is the governance asset of non-fungible token (NFT) marketplace Rarible.
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