Terra (LUNA), Avalanche (AVAX) and Four Additional Ethereum Rivals Mounting Serious Challenge to ETH in 2022: JPMorgan Analysis

Terra (LUNA), Avalanche (AVAX) and Four Additional Ethereum Rivals Mounting Serious Challenge to ETH in 2022: JPMorgan Analysis


Analysts at global banking giant JPMorgan say that Ethereum (ETH) competitors will challenge the top altcoin’s decentralized finance (DeFi) dominance of the crypto markets this year.

In a recent report, analysts led by JPMorgan managing director Nikolaos Panigirtzoglou say that ETH’s 70% market share of the DeFi space will continue to drop because the blockchain’s sharding upgrade is still at least a year away.

Ethereum’s market share of the DeFi space is already down 30% since January 2021.

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“In our mind, this optimistic view about ETH’s dominance is at risk.

This is because the scaling of the Ethereum network, which is necessary for the Ethereum network to maintain its dominance, might arrive too late.”

According to Panigirtzoglou, Ethereum competitors such as Terra (LUNA), Solana

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