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Ethereum’s Dominance in DeFi Is ‘Far From Given,’ JPMorgan Says


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.