Fundamentally it due to heat. The hotter, the faster the degradation.
Cooling systems have limits, the very core is not cooled, the heat has to pass though entire battery to sink.
Still open question how much the matrix breaks down during charge/discharge cycles.
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Heat is not a concern with Level 2 (AC) charging; it barely adds any heat at all, so there is essentially no significant different between 48 amp 240 volt charging and 12 amp 120 volt charging.