{"id":57799,"date":"2025-12-25T10:40:28","date_gmt":"2025-12-25T03:40:28","guid":{"rendered":"https:\/\/hbbgroup.net\/solana-and-ethereum-can-coexist-in-tokenization-race-dragonfly-vc\/"},"modified":"2025-12-25T10:40:28","modified_gmt":"2025-12-25T03:40:28","slug":"solana-and-ethereum-can-coexist-in-tokenization-race-dragonfly-vc","status":"publish","type":"post","link":"https:\/\/hbbgroup.net\/vi\/solana-and-ethereum-can-coexist-in-tokenization-race-dragonfly-vc\/","title":{"rendered":"Solana and Ethereum can coexist in tokenization race: Dragonfly VC"},"content":{"rendered":"
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Solana and Ethereum will both thrive in the tokenization race and neither blockchain will push the other out of the space, says Dragonfly general partner Rob Hadick.<\/p>\n

\u201cThey are both Facebook,\u201d Hadick told<\/a> CNBC\u2019s \u201cSquawk Box\u201d on Wednesday, when asked which blockchain will gain market dominance like social media platform Facebook or fall behind like the once-popular MySpace.<\/p>\n

Hadick said that with growing interest in tokenization and increasing economic activity onchain, there\u2019s room for multiple blockchains to coexist.\u00a0<\/p>\n

\u201cThere\u2019s a lot of room in this market. If you believe that most assets are going to be tokenized, if you believe there is going to be a significant amount of economic activity on-chain […] You can\u2019t just have one blockchain,\u201d he said.<\/p>\n

No single blockchain can win<\/h2>\n

Hadick said that \u201cmost stablecoins\u201d are currently on Ethereum and that is where the majority of on-chain economic activity exists.<\/p>\n

However, he said Solana handles most trading volume, making it \u201cmore optimized for that type of transaction flow.\u201d<\/p>\n

There is a significant gap between the two blockchains in terms of network asset value. Ethereum\u2019s network asset value, including stablecoins, stands at $183.7 billion, while Solana\u2019s, also including stablecoins, is $15.9 billion, according<\/a> to RWA.XYZ<\/a> data.<\/p>\n

Ethereum has the largest network asset value among the blockchain networks. Source: <\/em>RWA.XYZ<\/em><\/a><\/figcaption><\/figure>\n

Hadick said that it is unlikely for one blockchain to become the only one, as no single chain can \u201cscale large enough\u201d to take that role.\u00a0<\/p>\n

\u201cI think we\u2019re going to see different use cases on different blockchains,\u201d he said. He also acknowledged the possibility of new blockchains emerging and taking market share.<\/p>\n

Crypto platforms switch and change between blockchain networks<\/h2>\n

Some crypto platforms have been switching between the two blockchains as their business needs change.<\/p>\n

Related: <\/strong><\/em>Offchain Labs boosts ARB stake as Arbitrum crosses $20B milestone<\/strong><\/em><\/a><\/p>\n

Fantasy sports crypto platform Sorare announced in October that it would migrate from Ethereum<\/a> after six years, capitalizing on Solana\u2019s scalability and consumer-focused user base. The company will move over 10 sports games and their trading cards to Solana.\u00a0<\/p>\n