Ethereum’s dominance in one of the hottest corners of cryptocurrency is at risk of being further eroded as competitors push deeper into decentralized finance, according to JPMorgan Chase & Co.
Until the final phase of Sharding, which JPMorgan described as the “most critical” development for scaling the Ethereum network, arrives in 2023, the network’s 70% market share in DeFi could continue to drop, analysts led by Nikolaos Panigirtzoglou wrote in a note Wednesday.