The Duopolies of 2026: Ethereum & Solana, Coinbase & Robinhood, Polymarket & Kalshi | Ryan, David & Arnav Pagidyala

One, I'm very bullish on Solana from the perspective of pretty much every founder I meet in consumer. That is where they just default go to build. Right? And on the other side of the spectrum, I expect to see, like, a very strong reversal in Ethereum sentiment. I think we've already begun that with GeniusActs, ClarityActs, improvement in REV and TVL, DAT bid, Institutional bid. I think everything is just gonna go Ethereum's way this year in particular. Bankless Nation, I want to introduce you to Arnav Pagariala. He is an investment partner with us at Bankless Ventures. Also, one of the sharpest minds I found in crypto when it comes to meaningful, intelligent investing. We recently had him on the show not too long ago to talk about Bankless Ventures' bankless ventures' investment focus for 2026. That episode will be linked in the show notes if you're curious. And in this episode, we're going to talk about everything else, the Ethereum Solana duopoly, Coinbase versus Robinhood, Polymarket versus CallShe, investing in ICOs and whether or not tokens will suck in 2026. Does Hyper Liquid further entrench itself, or does it get a competitor? Big questions and topics that guide a liquid market investing in crypto. Arnoff, welcome back to Bankless. David, Brian, thank you for having me. I'm excited for this conversation. There's a just a mortgage board, a charcuterie board of relevant topics that I think will really guide investment decision making as I kind of just alluded to for this year. And we're starting this year off fresh. I think everyone has maybe some chips that they would like to place on the table. I am not fully deployed. I don't think Ryan is fully deployed. And I think there there's a lot of people like that who are just confused about how to invest in in 2026. So I wanna go through some of the big topics that I just mentioned. So let's start with Ethereum and Solana duopoly. This is something that you wrote, something in the bankless newsletter about. The duopoly of Ethereum and Solana will become clear in 2026. Ethereum is the slow risk DeFi chain for real world assets, money markets. Solana is the home of consumer crypto and moving towards the decentralized Nasdaq vision with FireDancer and Up and Glow. I think what you're kind of alluding to, Arnav, is that this is kind of it. These are the chains. It's Ethereum and Solana. They are pointing in in different directions. They are targeting different markets. And that's this duopoly is going to entrench itself and make it very hard for a new smart contract change to come into the market. Explain a little bit about what your, reasoning is and and, color in this this, idea that you have. Absolutely. So I definitely don't wanna give the idea that I absolutely do not believe alt l ones or l twos could have their day. They absolutely can. And definitely, …