It was back in 2015 when Ethereum came into existence and at the time, it was hailed as something that could be the successor to Bitcoin. This was due to the fact that it offered tools which allowed programmers to create apps that could perform transactions automatically rather than just serving as a means of exchange.

Now, in 2019, the network that is running Ethereum is losing market share. This long-promised project is touting better features are starting to be delivered on rival platforms and some startups are using coins like EOS and Stellar to raise funds through initial coin offerings despite lingering regulatory concerns about the sales.

The co-founder of the hedge fund Multicoin Capital Management in Austin Texas, has said “the simple reality is that until the last six-to-nine months, there were no other options besides Ethereum… Now there are.”

The change of going onto other networks could be weighing on demand for Ethereum which has been range bound over the recent months. ICOs are something that investors need to get involved and were originally issued over the network. Online video-game players don’t have to depend on Ethereum in order to buy in-game add-ons that are now a big feature but a controversial one as the microtransactions in video-games seem to be increasing all the time nowadays.

The founder of the hedge fund Ikigai based in Los Angeles, Travis Kling has spoken on Ethereum saying, “owning Ethereum today is a call option on what you think the network is going to be in the future. To the extent that Ethereum competitor projects get traction with developers, with users, with dapps built on top of the platform, that will be viewed by the market as being detrimental to the overall value of Ethereum, and that can have a negative price impact on Ether."

In fact, the market share for dApps has already moved. Just under thirty percent dApp users were on the Ethereum network as of January, compared with the one hundred percent we saw last year. You may not know that EOS accounted for 48 percent of active dApp users while TRON equals to around 25 percent or so.

The COO of DappRader, Patrick Barile has said, "the reason why they got so much adoption, those new protocols, is that they offer considerably better speed, transactions per second. The volume of transactions they can do is considerably higher. That means if you have a dapp, then you have a much better user experience."