In its latest report, banking giant JPMorgan Chase said that Ethereum’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, which made huge strides last year.
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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