solana nft market grater than ethereum

Ethereum Is Losing NFT Market Share to Solana

Ethereum Is Losing NFT Market Share to Solana

Analysts at JPMorgan led by Nikolaos Panigirtzoglou have revealed they see Ethereum ($ETH), the second-largest cryptocurrency by market capitalization, losing market share to rivals like Solana ($SOL) when it comes to non-fungible tokens (NFTs).

The analysts wrote that just like with decentralized applications “congestion and high gas fees” have been “inducting NFT applications to use other blockchains.” The analysts found that Solana ($SOL) has been a primary beneficiary as it has been seizing market share from Ethereum.

If the loss of its NFT share starts looking more sustained in 2022, that would become a bigger problem for ethereum’s valuation.

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