Ethereum’s share of the NFT market has dropped from around 95% to around 80% in one year.
Ethereum’s (ETH/USD) dominance in non-fungible tokens (NFTs) is declining because of high gas fees and congestion, JPMorgan said in an analyst report, quoted by CoinDesk. Ethereum’s share of the NFT market has dropped from around 95% to around 80% in one year. 🪙
The bank warned that Ethereum could face issues with its valuation if its loss of NFT market share continues this year. Earlier this month, analysts from the bank said Ethereum could be ousted as leader in DeFi because of network scaling delays. Scaling is required for the second biggest crypto by market cap to maintain its dominance.
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