Binance Smart Chain is gaining momentum, attracting more DeFi projects with its faster transaction times and lower fees. Ethereum, on the other hand, is struggling to keep up, causing some developers to reconsider their platform of choice. If Ethereum doesn't adapt quickly, it risks losing even more projects and users to rival chains.

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Ethereum's slow transaction times and high fees are indeed a major hurdle. If they don't address these issues, they risk losing their dominance in the DeFi space to more agile chains like Binance Smart Chain.