Grayscale reveals top 20 cryptos poised to outperform in Q4 2024, adding six new altcoins after a reshuffle.
Newcomers include Sui, Bittensor, and Optimism, with a focus on decentralized AI and blockchain scalability.
Grayscale warns of high volatility and risk, despite optimism about the chosen crypto assetsâ strong fundamentals.
Grayscale, a leading crypto asset manager, updated its investment strategy, revealing the top 20 cryptocurrencies poised for significant outperformance in the closing quarter of 2024. Its quarterly rebalance process concluded on September 20.
The Grayscale Research team, tasked with analyzing hundreds of digital assets, has identified emerging themes within the sector. These themes include the rise of decentralized AI platforms, the tokenization of traditional assets, and the sustained popularity of memecoins.
Grayscale Adds 6 New Altcoins to the Top 20 List
Among the newcomers to Grayscaleâs Top 20 is Sui, a blockchain praised for its recent performance improvements. After a network upgrade, Suiâs transaction speed has surged by 80%, outpacing even Solanaâs capabilities.
Also on the list is Bittensor, which brings the convergence of crypto and AI into sharper focus. Designed to foster the development of a global, open AI system, Bittensor reflects an improvement in its market structure, notably in liquidity and pricing sources.
Another noteworthy addition is Optimism, an Ethereum Layer 2 scaling solution. Gaining traction through its âSuperchainâ framework, Optimism is adopted by notable projects like Coinbaseâs Layer 2 solution.
Helium, specializing in decentralized physical infrastructure networks (DePIN), also secured a spot. It leads to the creation of efficient resource allocation models for wireless network coverage, boasting over a million total hotspots and network fee revenues.
The mobile-first blockchain Celo is transitioning to an Ethereum Layer 2 network, focusing on stablecoins and payment solutions. Its rising adoption in developing nations, particularly in Africa, facilitated by Opera Browserâs MiniPay app, marks a remarkable milestone. Notably, Celo has outperformed Tron in daily stablecoin transactions.
UMA Protocol rounds out the list of new entries, underpinning the critical role of oracles in blockchainâs predictive market spaces. Supporting Polymarket, a leading prediction market platform, UMA ensures transparent and decentralized resolution of market outcomes.
Finally, Grayscaleâs Top 20 also continues to support stalwarts like Bitcoin, Ethereum, and Solana alongside other players such as Toncoin, Chainlink, and Uniswap. However, this quarter saw the exclusion of assets like Render, Mantle, ThorChain, Pendle, Illuvium, and Raydium.
Finally, Grayscale also emphasized the inherent risks in crypto investment, particularly noting the high volatility.
âInvesting in the crypto asset class involves risks, some of which are unique to the crypto asset class, including smart contract vulnerabilities and regulatory uncertainty. Moreover, all of the assets in our Top 20 have high volatility and should be considered high risk and will not be suitable for all investors,â Grayscale warned.#TerraformLabsBankruptcy