Bankless The Duopolies of 2026: Ethereum & Solana, Coinbase & Robinhood, Polymarket & Kalshi | Ryan, David & Arnav Pagidyala
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Jan 19, 2026 
Arnav Pagidyala, an investment partner at Bankless Ventures, dives into the intense rivalries shaping crypto in 2026. He discusses Ethereum versus Solana's contrasting trajectories and the battle between Coinbase and Robinhood as finance super-apps. Arnav highlights how prediction markets like Polymarket and Kalshi stack up, while unpacking the resurgence of ICOs and the pressing need for regulatory clarity. He also explores the implications of proof-of-personhood for crypto's future and how AI is transforming startup dynamics.
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Ethereum and Solana Converge As Dominant Chains
- Builders and liquidity are converging on Ethereum and Solana, making it very hard for new general-purpose chains to gain traction.
- Alt-L1s that rely on incentive blasts attract deposits temporarily but lose capital back to Ethereum or Solana.
Different Strengths: Solana vs Ethereum
- Solana is winning consumer crypto and low-latency on-chain order books due to culture and proactive foundation support.
- Ethereum is reversing sentiment with institutional bids and protocol improvements, strengthening its position for RWA and DeFi.
Positioning Of Robinhood And Coinbase In 2026
- Watch Robinhood for rapid product expansion and bank-replacement features; they ship fast and intentionally design consumer banking integrations.
- Expect Coinbase to pivot away from content coins and possibly split consumer banking and riskier products into two apps.