In its latest report, banking giant JPMorgan Chase said that Ethereum ETH 0.20%’s high gas fees and network congestion pose a huge risk to smart contract platforms.
This could be an “Ethereum valuation issue”. Ethereum could lose its NFT market share to rival Solana SOL 4.75%, which made huge strides last year.
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If we look at the data, Ethereum’s NFT market share has fallen from 95% in early 2021 to 80%.
The JPMorgan analyst also noted that data shows NFT players have switched from Ethereum to Solana because of the faster and lower cost of transactions.
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