Multiple L1 ecosystems can thrive simultaneously—that's the takeaway from recent market analysis. Dragonfly VC's perspective challenges the zero-sum narrative: the tokenization market is expansive enough for both Solana and Ethereum to flourish without cannibalization. Rather than competing for scraps, each blockchain brings distinct advantages to different use cases. Solana excels in speed and efficiency, while Ethereum dominates in decentralization and developer ecosystems. The real opportunity lies in cross-chain collaboration and specialization. As institutional adoption accelerates, there's ample room for multiple dominant players to capture value simultaneously.