Ethereum L1 Risks Being Left Behind in Tokenization Boom
The tokenization boom is expected to benefit leading L1 networks, including Ethereum, but some are warning that the Ethereum mainnet may miss out on the opportunity.
According to analyst Gabriel Shapiro, companies either tokenize on the mainnet or build their own Ethereum L2. He cited Robinhood's Robinhood Chain as an example of the latter.
However, Ethereum L1 has nearly zero market share in tokenized stocks in spot DEXes, and tokenized securities DEX volumes have surged to 12%, according to Lorenzo Valente, Ark Invest's head of crypto research.
Valente warned that Ethereum needs a clear vision for what belongs on L1, what moves to L2s, and how the two fit together, renewing the L2 value capture and sharing debate that has been ongoing for years.
Some, like Luigi DeMeo, Chief Strategy Officer at Aave, agree with Valente's call, arguing that Ethereum has first-mover advantage for cryptoassets but risks being left behind on newer ecosystems if it doesn't take an active role.