Every quarter, Grayscale Research lists the top 20 assets in the cryptocurrency industry, representing a diversified range of assets within the cryptocurrency sector, and also indicating those assets that Grayscale believes have high potential in the upcoming quarter.
In Q1 2025, Grayscale will focus on tokens that involve at least one of the following three core market themes:
(1) The U.S. elections and their potential impact on industry regulation, particularly in areas such as decentralized finance (DeFi) and staking;
(2) Ongoing breakthroughs in decentralized AI technology and the use of AI agents on blockchain;
(3) The growth of the Solana ecosystem.
Based on these themes, Grayscale has added six new assets to the Top 20 list for Q1 2025. They are HYPE, ENA, VIRTUAL, JUP, JTO, and GRASS.
The complete Top 20 token list is shown in the image below.