Grayscale’s Top 20 list for assets with growth potential for the last quarter excludes XRP while highlighting Bitcoin, Ethereum, and Solana.
Grayscale Research recently released its Top 20 list of digital assets for Q4 2024, emphasizing assets with significant potential based on emerging market themes, upcoming catalysts, and fundamental developments. Notably, the list excludes XRP, despite Grayscale having relaunched its XRP Trust.
Bitcoin and Ethereum Lead
According to the announcement, Bitcoin continues to dominate in 2024, outperforming other segments within the Currencies Crypto Sector. Grayscale attributes this success to the launch of spot Bitcoin exchange-traded products (ETPs) in the U.S. and a favorable macroeconomic environment.
Ethereum remains strong within the Crypto Sector of Smart Contract Platforms. Its strengths—high decentralization, economic security, and robust developer activity—help maintain its competitive edge despite challenges from alternative platforms like Solana, Toncoin, and Sui.
Solana has emerged as a significant competitor within the smart contract sector, leveraging lower fees and a user-friendly experience to capture market share. The increasing traction of alternative smart contract platforms indicates a growing diversification within the sector, which poses challenges to Ethereum’s leadership.
Nevertheless, Ethereum still leads in total value locked in smart contracts and continues to attract considerable developer and institutional interest.
New Market Themes
Grayscale’s Top 20 list has expanded to include several assets reflecting the latest trends in the digital asset space. Sui, a Layer 1 blockchain developed by former Meta engineers, has gained attention following a recent network upgrade that improved transaction speeds.
Bittensor, a decentralized AI platform, also made the list due to enhanced market liquidity and increased pricing sources. Optimism, an Ethereum scaling solution, and Celo, a mobile-first blockchain transitioning to an Ethereum Layer 2 network, highlight the growing focus on infrastructure and scalability.
Notably, Helium’s inclusion underscores market interest in decentralized physical infrastructure networks (DePIN). Helium has expanded its decentralized wireless network to over one million hotspots. The UMA Protocol also joins the Grayscale Top 20, reflecting interest in blockchain-based prediction markets and decentralized oracles.
XRP Not in Grayscale’s Top 20
Grayscale’s decision to exclude XRP from its Top 20 list stands out, particularly given the recent relaunch of its XRP Trust for accredited investors.
The XRP Trust has shown strong performance since its relaunch, with a net asset value (NAV) increase of 14.35% since launch, per data dated September 20. Despite this positive performance, Grayscale does not rank XRP among the top assets it believes have significant prospects for Q4 2024.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
