Be wary of latecomers! SmallCap: Ether dominance "far from achieved"
JPMorgan Chase (NYSE:JPM) said Wednesday that Ether's dominance in one of the hottest areas of cryptocurrencies is at risk of further erosion as competitors delve into the decentralized finance (DeFi) space.
Specifically, the bank said that Ether's market share fell from nearly 100 percent to 70 percent in a year and described sharding as the "most critical" development for the expansion of the Ether network, according to bank analyst Nikolaos Panigirtzoglou, who said that by 2023 sharding The bank's analyst Nikolaos Panigirtzoglou said that 70% of Ether's market share will likely continue to decline until the final phase of sharding in 2023.
According to Panigirtzoglou, "Scalability is necessary for Ether to maintain its dominant position, but it may come too late."