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.
Advertisements
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.
DISCLAIMER: The information provided by WebsCrypto does not represent any investment suggestion. The articles published on this site only represent personal opinions and have nothing to do with the official position of WebsCrypto.