JPMorgan analysts warn that Ethereum’s NFT market share could drop to 80% if the issue persists. Ethereum is losing ground to rival Solana.
Solana Gains Ground
Solana has been gaining massive ground over the last year, with NFTs market share dropping from 95% to 80%. This could be a bigger problem for Ethereum’s valuation.
NFTs are the Fastest Growing Universe
JPMorgan analysts note that NFTs are the fastest-growing universe in the crypto ecosystem. If this trend continues, it could become a bigger problem for Ethereum’s valuation.
Ethereum’s Falling Share in DeFi
JPMorgan analysts also warn that Ethereum’s falling share in the world of decentralized finance (DeFi) is a concern. NFT applications are moving to other blockchains like Solana due to congestion and high gas fees.
Ethereum’s Challenge
Ethereum faces a big challenge to scale to the