Grayscale Research Update

Grayscale Research has expanded its ‘Top 20’ list of promising crypto assets, adding six tokens it believes have high potential for the upcoming quarter.

New Additions

The newly included tokens are:
– HYPE: Hyperliquid’s Layer 1 blockchain
– ENA: Ethena’s platform
– VIRTUAL: Virtual Protocol’s AI agent platform based on Base
– JUP: Jupiter’s Solana-based DEX aggregator
– JTO: Jito’s liquid staking protocol on Solana
– Grass: Decentralized data network with its self-titled token

Selection Criteria

Grayscale’s decision to include these tokens is influenced by several factors:
– Network growth and adoption
– Upcoming catalysts
– Fundamental sustainability
– Token valuation and supply inflation
– Potential tail risks

Future Focus

For Q1 2025, Grayscale will concentrate on several themes:
– Regulatory environment in the U.S.
– Decentralized finance and staking
– Decentralized AI technologies and agents
– Growth of the Solana ecosystem

Grayscale also expressed optimism about ongoing themes from previous quarters, including:
– Ethereum scaling solutions
– Tokenization
– Decentralized physical infrastructure (DePIN)

Notably, Optimism, Chainlink, and Helium have returned to its ‘Top 20’ list, while Celo has fallen off.