Svmuu News Grayscale Research Director Zach Pandl stated that the current tokenization market is still in its early stages, with a size of approximately $270 billion, accounting for only about 0.01% of the global capital markets. However, it is projected to grow to nearly $19 trillion by 2033. The development of the tokenization market will advance in phases, with investment opportunities presenting a "gradient release." In the early stages, institution-led permissioned networks like Canton Network are more likely to succeed. The mid-term may see a hybrid model emerge, where networks with subnet structures like Avalanche are expected to benefit. In the long run, Ethereum may underpin global decentralized finance, but its implementation pace is relatively slower. (CoinDesk)