- Grayscale highlights top 20 cryptocurrencies in its research insights report for Q1 2025.
- HYPE, ENA, VIRTUAL, JUP, JTO, and GRASS are the new crypto assets in Grayscale’s top 20 crypto list.
As the year comes to a close, leading asset management company Grayscale posted a research report highlighting crypto trends for Q1 2025. It started with acknowledging the overall crypto market surge in Q4 2024 and went on to explore smart contract competition, US election influence on crypto and DeFi, use of blockchain in AI Agents, and Solana ecosystem growth.
The crypto market capitalization recorded a significant surge in Q4 2024, increasing by $1 trillion in this period. Grayscale emphasised the growth of the Solana ecosystem in comparison to Ethereum. Alternative layer1 blockchain networks like Sui and Open Network (TON) have also gained attention as Ethereum slows down its progress.
Grayscale Adds 6 New Cryptocurrencies to its Top 20 Crypto List for Q1 2025
Grayscale reports a top 20 cryptocurrency list for every quarter. This time, the asset manager added 6 new cryptocurrencies – HYPE, ENA, VIRTUAL, JUP, JTO, and GRASS to its top 20 list for Q1 2025. Grayscale picked cryptocurrencies that are related to one of the major themes of this quarter. These major crypto themes include US election implications on crypto regulation, DeFi, and staking, breakthroughs in AI technologies, and growth of the Solana ecosystem.
Among the 6 newly added cryptocurrencies, Hyperliquid’s HYPE and Ethena’s ENA got a spot in the top 10 cryptocurrencies, exhibiting remarkable growth and adoption this quarter. Hyperliquid price surged significantly during its airdrop and recorded new ATH values, driven by strong fundamentals and market optimism.
On the other hand, Ethena price surged over $1 with bulls activity. The ENA has also been making headlines for being acquired by Trump’s crypto project World Liberty Financial. Coming to Virtual, its VIRTUAL token plunged by 7% after recording a new ATH of $3.71. The short bull run demonstrated in Q4 2024 revealed some of the strong layer 1 ecosystems like Solana, along with multiple innovative crypto projects that strive to push industry’s limits.
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