Arnav Pagidyala: Ethereum and Solana will rule in 2026, Solana’s community culture boosts its ecosystem, and Robinhood will overtake Coinbase

Important takeaways

• Ethereum and Solana are expected to solidify their positions as the leading blockchain platforms in 2026.
• General purpose blockchain networks will find it challenging to compete with the results of the established networks of Ethereum and Solana.
• Solana is gaining popularity among developers and consumers, positioning itself as a key player in the blockchain space.
• A change in Ethereum sentiment is expected, driven by the development of metrics and institutional interest.
• The Solana Foundation’s proactive approach to supporting creators and leading institutions is a key factor in its ecosystem’s success.
• The value of a blockchain token may not directly reflect the value created by the chain itself.
• Solana and Ethereum are expected to attract significant developer activity and liquidity, improving their asset performance.
• Solana must continue to innovate to remain competitive in the blockchain space.
• Robinhood is predicted to overtake Coinbase by 2026 due to its rapid product development.
• Coinbase may reverse its strategy of focusing more on being a substitute for a bank rather than emphasizing creator coins.
• The crypto exchange market is becoming more competitive, with new entrants emerging due to favorable regulations.
• KYC privacy technology is expected to become standard across different applications, improving security and compliance.

Guest introduction

Arnav Pagidyala is a partner at Bankless Ventures, a Web3 early stage fund focused on supporting 0 to 1 companies across DeFi, consumer, and fintech. He spent three years at HashKey Capital, one of the largest crypto funds in Asia, where he invested in companies including onchain trading, smart contract compliance, and MEV solutions. With more than five years of focus on permissionless financial infrastructure and blockchain, Pagidyala brings deep conviction in how blockchains will support payments, commerce, and digital services.

Ethereum and Solana’s competitive landscape

• “Ethereum and Solana duopoly will be clear by 2026.” – Arnav Pagidyala
• Ethereum is seen as “a defi risk defi chain in the financial markets of real assets of the world.”
• Solana is moving toward a “constrained Nasdaq vision.”
• “Ethereum and Solana target different markets, which will strengthen their duopoly.” – Arnav Pagidyala
• Ethereum focuses on tokenization of real-world assets and financial markets.
• Solana is positioned as a consumer and user experience crypto platform.
• “By 2025, general purpose chains will struggle to disrupt the effects of the Ethereum and Solana network.” – Arnav Pagidyala
• Solana’s appeal to developers and buyers is growing, making it a popular platform.

Advantages of Solana’s techniques

• “The Solana Foundation’s approach to serving educational institutions and supporting creators is a major contributor to the success of the ecosystem.” – Arnav Pagidyala
• Solana’s community culture, including active content creation, enhances the vibrancy of its ecosystem.
• “The cultural aspect of the Solana community plays an important role in the dynamics of its ecosystem.” – Arnav Pagidyala
• Solana’s active developer support sets it apart from other blockchain platforms.
• “Solana must work hard to maintain its position in a competitive environment with emerging chains.” – Arnav Pagidyala
• Solana Foundation’s strategy includes direct engagement with institutions and developers.
• Solana’s focus on consumer goods and user experience sets it apart from Ethereum.
• “Solana is becoming the preferred platform for innovators and consumers in the blockchain space.” – Arnav Pagidyala

The emerging role of Ethereum

• “There will be a drastic change in the Ethereum sentiment driven by the development of various metrics.” – Arnav Pagidyala
• Ethereum is positioned as “a real-world commodity token chain for Wall Street.”
• The market has yet to reach a consensus on the valuation of Ethereum, with valuations varying widely.
• “Ethereum may become the canonical store of value in the future.” – Arnav Pagidyala
• Ethereum network results and institutional interest are expected to drive positive sentiment.
• “Ethereum and Solana both have structural problems, but their network effects are so strong that they continue to thrive independently.” – Arnav Pagidyala
• The possibility of Ethereum becoming a store of value is still being debated.
• “The market still hasn’t figured out how to value Ethereum.” – Arnav Pagidyala

Robinhood vs. Coinbase

• “Robinhood will likely lead Coinbase in 2026 due to its rapid product development and market performance.” – Arnav Pagidyala
• Robinhood’s user experience is particularly appealing to millennials and Gen Z.
• “Coinbase may abandon the content coin narrative and switch to being a substitute for a bank.” – Arnav Pagidyala
• Robinhood’s focus on user-friendly areas gives it a competitive edge.
• Coinbase may develop different applications to better serve its banking ambitions.
• “Coinbase may develop two separate applications to better serve its banking ambitions.” – Arnav Pagidyala
• The competition between Robinhood and Coinbase highlights the importance of user experience in fintech.
• “Robinhood’s user experience is top of the line in the world of personal finance, especially appealing to younger generations.” – Arnav Pagidyala

The future of crypto trading

• “The barrier to competition in the crypto exchange market is falling, allowing new players to emerge.” – Arnav Pagidyala
• Exchanges face challenges from wallets with better fiat on-ramps.
• “Wallets will increasingly compete with centralized exchanges, which could disrupt their market dominance.” – Arnav Pagidyala
• The shift to decentralized systems is expected to reshape the crypto exchange landscape.
• “Centralized exchanges will lose their power as the entire currency stack moves on-chain.” – Arnav Pagidyala
• Exchanges are encouraged to list high quality goods to ensure their viability.
• “Intermediate exchanges will be encouraged to list good assets under favorable terms.” – Arnav Pagidyala
• The economics of having a front end in crypto is very profitable.

Privacy and security in crypto

• “Privacy maintaining KYC technology can prevent data leakage while enabling authentication.” – Arnav Pagidyala
• Privacy-focused projects are struggling due to a lack of privacy concerns among new users.
• “Privacy-focused projects in crypto are struggling because of a lack of privacy among new users.” – Arnav Pagidyala
• Privacy-preserving KYC is expected to become the standard for various applications.
• “KYC privacy will become the standard for all emerging applications.” – Arnav Pagidyala
• The adoption of privacy-preserving technologies addresses key security concerns in crypto.
• KYC’s privacy-preserving capabilities to improve compliance and security are critical.
• “KYC privacy will become the standard for all emerging applications.” – Arnav Pagidyala

Institutional interest in blockchain

• “Institutions will increasingly see the importance of building chains with deep network effects this year.” – Arnav Pagidyala
• Traditional financial institutions are exploring decentralized options while opting for more manageable chains.
• “Traditional financial institutions are choosing chains they cannot control, but they are also exploring decentralized options.” – Arnav Pagidyala
• The adoption of blockchain technology by traditional currencies is expected to grow.
• Institutions recognize the strategic importance of blockchain network effects.
• “Institutions will increasingly see the importance of building chains with deep network effects this year.” – Arnav Pagidyala
• The balance between control and decentralization is an important consideration for traditional finance.
• “Traditional financial institutions are choosing chains they cannot control, but they are also exploring decentralized options.” – Arnav Pagidyala

The impact of AI on crypto development

• “The introduction of AI tools like Opus 4.5 allows small groups to create and issue smart contracts more effectively.” – Arnav Pagidyala
• Advances in AI are reducing technical barriers to crypto development.
• “Technical barriers to crypto creation are shrinking, changing the competitive edge in distribution.” – Arnav Pagidyala
• The role of AI in promoting innovation and reducing development costs is significant.
• AI tools enable many groups to participate in the crypto space.
• “The introduction of AI tools like Opus 4.5 allows small groups to create and issue smart contracts more effectively.” – Arnav Pagidyala
• The shift to distribution as a competitive edge reflects the changing nature of the industry.
• “Technical barriers to crypto creation are shrinking, changing the competitive edge in distribution.” – Arnav Pagidyala

The future of ICOs and DeFi

• “I’m very excited about ICOs in 2026 and beyond.” – Arnav Pagidyala
• ICOs can drive public engagement and raise capital if done right.
• “ICOs can drive community involvement and raise capital if done right.” – Arnav Pagidyala
• The role of launchpad platforms in the treatment of ICO projects is important.
• The potential of ICOs to improve market activity and user engagement is significant.
• “I’m very excited about ICOs in 2026 and beyond.” – Arnav Pagidyala
• The success of ICOs depends on effective project configuration and community involvement.
• “ICOs can drive community involvement and raise capital if done right.” – Arnav Pagidyala

Emergence of DeFi platforms

• “Morpho has clean structures to isolate people from danger that make it compelling in institutions.” – Arnav Pagidyala
• Morpho’s market structure is simplified, making it attractive for institutional acquisition.
• “Morpho’s market structure has been simplified into five key segments, making it attractive to institutions.” – Arnav Pagidyala
• Aave v4 evolves into a Morpho-like architecture, reflecting the changing DeFi landscape.
• “Aave v4 evolves into a Morpho-like architecture, reflecting the changing DeFi landscape.” – Arnav Pagidyala
• Focusing on risk diversification and attribution is a key ingredient in DeFi development.
• Morpho’s architecture highlights the importance of risk management in DeFi.
• “Morpho has clean structures to isolate people from danger that make it compelling in institutions.” – Arnav Pagidyala