Deep Tide TechFlow news, on December 30, Grayscale Research released an insights report on the cryptocurrency sector for Q1 2025 and updated the list of the top 20 assets in the cryptocurrency industry. The Grayscale Research team analyzes hundreds of digital assets each quarter to guide the rebalancing process of the FTSE/Grayscale cryptocurrency industry index series.
This quarter, the Grayscale research team is particularly focused on the following market themes: the U.S. elections and their potential impact on industry regulation, breakthroughs in decentralized AI technology, and the growth of the Solana ecosystem. Based on these themes, Grayscale's top 20 assets include Hyperliquid, Ethena, Virtual Protocol, Jupiter, Jito, and Grass, which are considered to have high potential in the upcoming quarters:
Hyperliquid (HYPE): A Layer 1 blockchain designed to support on-chain financial applications, primarily serving as a decentralized exchange (DEX) for perpetual futures with a fully on-chain order book.
Ethena (ENA): A new type of stablecoin USDe, primarily backed by hedged positions in Bitcoin and Ethereum. The protocol holds long positions in Bitcoin and Ethereum, while also holding short positions in perpetual futures contracts for the same assets.
Virtual Protocol (VIRTUAL): A platform for creating AI agents on the Ethereum Layer 2 network Base, which can autonomously perform tasks, simulate human decision-making, and support the creation and co-ownership of tokenized AI agents.
Jupiter (JUP): The leading DEX aggregator on Solana, holding the highest total locked value (TVL) in the network. With the increase in retail traders, Jupiter is expected to benefit from market activities related to Solana-based memecoins and AI agent tokens.
Jito (JTO): A liquidity protocol on Solana, which has seen significant adoption growth over the past year, generating over $550 million in fee revenue in 2024, with a strong financial position.
Grass (GRASS): A decentralized data network that rewards users for sharing unused internet bandwidth through a Chrome extension. This bandwidth is used for online data scraping, and the data is subsequently sold to AI companies and developers for training machine learning models.
