{"id":210656,"date":"2022-01-08T09:45:07","date_gmt":"2022-01-08T09:45:07","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=210656"},"modified":"2022-01-07T17:10:50","modified_gmt":"2022-01-07T17:10:50","slug":"here-is-why-ethereums-dominance-in-defi-is-falling","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/here-is-why-ethereums-dominance-in-defi-is-falling\/","title":{"rendered":"Here is why Ethereum\u2019s dominance in DeFi is falling"},"content":{"rendered":"<p dir=\"ltr\"><a href=\"https:\/\/cryptoslate.com\/coins\/ethereum\/\">Ethereum<\/a> is undoubtedly the leading blockchain in DeFi, but this could be about to change as analysts at JPMorgan have noted that the dominance of the asset in the space could already be fading.<\/p>\n<p dir=\"ltr\">According to the analysts, the rise of smart contract-enabled protocols like Terra, Avalanche, and Solana have shown that the lead of Ethereum is not absolute in DeFi.<\/p>\n<p dir=\"ltr\">These projects, it was revealed, have eaten into its dominance, and they could potentially charge further impact in this new year.<\/p>\n<h2>Ethereum is losing dominance in DeFi<\/h2>\n<p dir=\"ltr\">To put this in perspective, Ethereum\u2019s market share of DeFi TVL was almost at 100% at the beginning of 2021. However, that figure had dropped to around 65% towards the end of the same year.<\/p>\n<p dir=\"ltr\">Nikolaos Panigirtzoglou, the team leader of the analysts, wrote that the major cause of the lost ground could be tied to the scalability of the ETH network.<\/p>\n<p dir=\"ltr\">Per the note, the scaling upgrade needed by Ethereum to maintain its dominance of the space might arrive too late.<\/p>\n<blockquote><p>&#8220;Ethereum is currently in an intense race to maintain its dominance in the application space with the outcome of that race far from given.&#8221;<\/p><\/blockquote>\n<p dir=\"ltr\">Due to this scaling problem, other independent blockchains like <a href=\"https:\/\/cryptoslate.com\/coins\/terra-luna\/\">Terra<\/a>, <a href=\"https:\/\/cryptoslate.com\/coins\/avalanche\/\">Avalanche<\/a>, and <a href=\"https:\/\/cryptoslate.com\/?s=Solana\">Solana<\/a> have enjoyed large fundings from investors and are incentivizing the use of their platforms.<\/p>\n<h2>Why is Ethereum losing its dominance?<\/h2>\n<p dir=\"ltr\">A cursory look at the number of transactions each DeFi-supporting blockchain could perform within a second would reveal that Ethereum is far behind its competitors.<\/p>\n<p dir=\"ltr\">According to available data, while ETH can complete between 15-45 transactions per second (TPS), competitors like Terra and Solana can complete 1,000 TPS and 50,000 TPS, respectively.<\/p>\n<p dir=\"ltr\">Apart from this, there is the issue of the high gas fees which is quite common with the\u00a0 Ethereum blockchain. Though the network has been battling this with its <a href=\"https:\/\/cryptoslate.com\/vitalik-buterin-says-eip-1559-is-proof-ethereum-is-capable-of-change\/\">EIP-1559 upgrade<\/a>, the transaction fee on rivals like Solana is still very much cheaper.<\/p>\n<p dir=\"ltr\">All of this might have played a role in the analysts concluding that Ethereum\u2019s network might not enjoy its current level of activity when its scaling update is completed, as users might have migrated to its competitors\u2019 ecosystems.<\/p>\n<p dir=\"ltr\"><span style=\"font-weight: 400;\">We are already starting to see affirmation on what the <\/span><a href=\"https:\/\/cryptoslate.com\/bank-of-america-now-says-the-crypto-metaverse-is-a-massive-opportunity\/\">Bank of America<\/a> recently said around Avalanche providing a credible alternative to Ethereum for DeFi protocols, NFTs, and other activities. Since then, the TVL of projects on its blockchain has grown to over $11 billion, according to <a href=\"https:\/\/defillama.com\/chain\/Avalanche\">data<\/a> from DeFiLlama.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum is undoubtedly the leading blockchain in DeFi, but this could be about to change as analysts at JPMorgan have noted that the dominance of the asset in the space could already be fading. According to the analysts, the rise of smart contract-enabled protocols like Terra, Avalanche, and Solana have shown that the lead of [&hellip;]<\/p>\n","protected":false},"author":720,"featured_media":210737,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[46940],"tags":[75597,77068,72190,77025,75380,76937],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Here is why Ethereum\u2019s dominance in DeFi is falling<\/title>\n<meta name=\"description\" content=\"Ethereum\u2019s market share in DeFi could plummet to new lows if the scaling upgrade is not implemented soon, according to JPMorgan.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/here-is-why-ethereums-dominance-in-defi-is-falling\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Here is why Ethereum\u2019s dominance in DeFi is falling\" \/>\n<meta property=\"og:description\" content=\"Ethereum\u2019s market share in DeFi could plummet to new lows if the scaling upgrade is not implemented soon, according to JPMorgan.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/here-is-why-ethereums-dominance-in-defi-is-falling\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2022-01-08T09:45:07+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-01-07T17:10:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/01\/ethereum-defi.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Oluwapelumi Adejumo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Oluwapelumi Adejumo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/here-is-why-ethereums-dominance-in-defi-is-falling\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/here-is-why-ethereums-dominance-in-defi-is-falling\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#person\",\"name\":\"Oluwapelumi Adejumo\",\"url\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"caption\":\"Oluwapelumi Adejumo\"},\"jobTitle\":\"Senior Reporter\",\"description\":\"Oluwapelumi values Bitcoin's potential. 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