The pro-crypto Wall Street giant, JPMorgan took a rather surprising stance against the dominating blockchain, Ethereum and its coin, Ether ($ETH). JPMorgan highlighted that Ethereum is already losing its rank in the Defi sphere to the up and coming competitors, and may lose further if it does not escalate the time taken for scalability upgrades.
According to Bloomberg, JPMorgan noted that due to the late launch of the Sharding feature, which is “most critical” development for scaling the Ethereum network, it is possible that by the time Ethereum catches up to speed it would have already lost its dominance.
“In other words, Ethereum is currently in an intense race to maintain its dominance in the application space with the outcome of that race far from given, in our opinion”
Bi-fold reason to Ethereum losing Defi dominance
It is evident that there are two main reasons because of which Ethereum could potentially lose its dominance in the Defi sphere. First – the scalability is
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