Dragonfly Capital continues its investment in the Solana ecosystem with an $18M Series A extension for Andrena, boosting Solanaโs decentralized wireless internet initiatives.
The investment highlights ongoing interest in Solanaโs potential, suggesting possible cohabitation with Ethereum in tokenization, as Solanaโs DeFi sector surges and U.S. institutional confidence grows.
Dragonfly Capital, a prominent venture capital firm, recently led an $18 million Series A extension for Andrena, a Solana-based decentralized internet project. This backing underscores Dragonflyโs ongoing investment in Solanaโs ecosystem, fueling dialogue on Solana and Ethereum coexisting in tokenization.
The firmโs past investments highlight its support for Layer 1 technologies like Solana.
Solanaโs Potential Growth Echoed in DeFi TVL Surge
The investment renews focus on Solanaโs potential to coexist with Ethereum. It aligns with Dragonflyโs broader strategy, though no official statements from major players confirm specific stance on the Solana-Ethereum race.
Financial implications of Dragonflyโs backing include increases in Solanaโs DeFi Total Value Locked (TVL), which surged 32.7% in Q3 2025. Such growth reflects tokenizationโs role in driving both Solana and Ethereum ecosystems forward.
Venture Capital Confidence Boosts Solanaโs Scalability Prospects
Historical VC-led funding in Solana includes a previous $15M investment in Andrena, similar to Dragonflyโs latest move. Such investments emphasize Solanaโs appeal as a leading Layer 1 platform alongside Ethereum.
Experts from Kanalcoin suggest Dragonflyโs support could indicate growing confidence in Solanaโs scalability. This confidence mirrors sentiments during previous Solana expansions, hinting at potential coexistence with Ethereum in decentralized finance.
As noted in expert conversations, discussions within the crypto community, including developer activity and sentiment toward Solanaโs initiatives, are ongoing yet without direct quotes or statements linked to Dragonflyโs funding strategies.
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