JPMorgan Says Ethereum Is Losing NFT Market Share to Solana

Posted on by American Coins & Gold

JPMorgan Says Ethereum Is Losing NFT Market Share to Solana
Ethereum’s dominance in non-fungible tokens (NFTs) is shrinking because of congestion and high gas fees, JPMorgan said in an analyst report.The network’s market share of NFTs has dropped to around 80% from about 95% at the start of 2021, analysts led by Nikolaos Panigirtzoglou wrote in the note published last week.Since August, Solana has been capturing the most NFT volume share at the expense of Ethereum, the bank said, noting that was when the NFT market started a major expansion. Ethereum has also been losing market cap share to Solana in line with the declining NFT volume share.As NFT’s are…