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

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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.