U.S. investment management firm focused on digital assets, Grayscale, has just published its list of cryptocurrencies with the highest potential for the coming year.
Grayscale's research division team released the list this Monday, on the eve of the 2024 close. The list specifically enumerates the 20 cryptocurrencies expected to see positive returns in the first quarter of 2025. Among them, six new tokens are mentioned, including the newly launched HYPE from Hyperliquid and JUP from decentralized exchange Jupiter.
The selections are influenced by the U.S. presidential election and its potential implication on cryptocurrency regulations, advances in decentralized artificial intelligence (AI) technologies and growth within the Solana ecosystem, topics that the team anticipates will be key in the near future.
Based on these themes, Grayscale said it had incorporated the new Hyperliquid (HYPE), Ethena (ENA), Virtual Protocol (VIRTUAL), Jupiter (JUP), Jito (JTO) and Grass (GRASS) tokens.
This group of cryptocurrencies, which reached the hands of investors this 2024, have seen extraordinary price growths. For example, the HYPE token has risen nearly 750% in price since its launch on November 29, while VIRTUAL has enjoyed an explosive increase of more than 6,000% since it debuted at the beginning of the year.
Hyperliquid is a Layer 1 blockchain whose primary application is a decentralized exchange (DEX) of cryptocurrencies for perpetual futures. Jupiter and Jito are Solana-based platforms, while Virtual Protocol and Grass are AI-centric protocols, the former based on the Coinbase Base network.
Grayscale had added Bittensor (TAO) to its Q4 2024 listing of tokens with Q4 2024 potential, putting a focus on decentralized AI platforms for the first time. Now, the manager seems to put a greater focus on this sector with the inclusion of assets such as VIRTUAL and GRASS for the next quarter.
Beyond the newcomers to the list, a key observation from Grayscale Research is the growing competition in the smart contract Blockchain platform segment, originally dominated by Ethereum.
In this regard, the researchers hinted that other networks such as Solana could gain as investors begin to look for other alternatives to Ethereum. “Investors also turned attention to other Layer 1 networks, including high-performance blockchains such as Sui and TON, integrated with the Telegram messaging platform,” they noted.
The team further argued that fee revenue will be a key driver of value for tokens on smart contract platforms. They suggest that a network's ability to generate fees is directly related to its market capitalization and its ability to reward token holders through mechanisms such as burning or staking.
“The greater the ability of a network to generate fee revenue, the greater the ability of the network to transmit value to the network in the form of token burn or staking rewards. This quarter, the Grayscale Research Top 20 features the following smart contract platforms: ETH, SOL, SUI and OP,” the report reads.
Topping the list is Bitcoin (BTC), the largest cryptocurrency by market capitalization which this 2024 saw price growth of more than 100% to break all-time highs above USD $100,000 for the first time. Other Grayscale picks that repeat on the list include Chainlink (LINK), Uniswap (UNI), Aave (AAVE) and Bittensor (TAO).
Source: Hannah Estefania Perez / DiarioBitcoin
Note: This is an informational article. It does not promote, endorse, or recommend any particular investment. Investments in cryptoassets are not regulated in some countries. They may not be appropriate for retail investors, as the full amount invested could be lost. Please check the laws of your country.
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