Grayscale Research has just updated the list of the top 20 altcoins for Q1 2025, adding six new digital assets. This list highlights cryptocurrencies with strong potential for the upcoming quarter.

- The six new tokens include Hyperliquid (HYPE), Ethena (ENA), Virtual Protocol (VIRTUAL), Jupiter (JUP), Jito (JTO), and Grass (GRASS). These tokens are related to three main themes: the U.S. elections and legal implications for DeFi and staking, advancements in decentralized AI technology, and the development of the Solana ecosystem.

- Hyperliquid is a Layer 1 blockchain that supports financial applications and decentralized exchanges for perpetual futures. Ethena introduces USDe, a stablecoin backed by Bitcoin and Ethereum.

- Virtual Protocol enables the creation of tokenized AI agents on Base, Ethereum's Layer 2 network. Jupiter and Jito are prominent projects on Solana with high TVL and fee revenue.

- Grass operates as a decentralized data-sharing platform, compensating users for sharing unused internet bandwidth.

Grayscale also emphasizes the competition among smart contract platforms, with Ethereum, Solana, Sui, and Optimism being the standout names. 🌟