Grayscale Research has unveiled its latest Top 20 digital assets with the most growth potential for the fourth quarter of 2024. This list is based on market trends, upcoming developments, and the overall fundamentals of each asset.
Despite the recent relaunch of Grayscale’s XRP Trust, the asset did not make the list. Instead, the report highlights digital assets like Bitcoin, Ethereum, and Solana.
Bitcoin and Ethereum Maintain Leadership
According to Grayscale, Bitcoin continues to lead the market in 2024, outperforming other digital currencies. The recent launch of spot Bitcoin exchange-traded products (ETPs) in the United States and a favorable macroeconomic environment have contributed to Bitcoin’s strong performance.
Ethereum, another major player, remains dominant in the sector of Smart Contract Platforms. Its well-established position is supported by its high level of decentralization, strong security, and active developer community.
Although Ethereum faces competition from other platforms such as Solana, Toncoin, and Sui, it retains a leadership position, particularly in terms of total value locked in smart contracts and ongoing institutional interest.
Solana has gained ground as a significant competitor to Ethereum. Its lower transaction fees and user-friendly platform have helped it capture more market share. This growth illustrates the increasing diversification within the smart contract sector, presenting challenges to Ethereum’s dominance.
New Trends and Emerging Assets
Grayscale’s Top 20 list for Q4 2024 includes several assets that reflect new trends in the crypto space. Among these, Sui—a Layer 1 blockchain developed by former Meta engineers—has gained prominence following a network upgrade that boosted transaction speeds.
Bittensor, a decentralized AI platform, has also been highlighted due to its improved market liquidity and the growing number of pricing sources. Optimism, an Ethereum Layer 2 scaling solution, and Celo, a mobile-first blockchain transitioning into an Ethereum Layer 2 network, have both gained recognition for their focus on scalability and infrastructure.
Meanwhile, Helium, a decentralized wireless network, secured its place on the list due to the expansion of its decentralized physical infrastructure networks (DePIN). Helium’s wireless network now boasts over one million hotspots. Furthermore, the UMA Protocol’s inclusion reflects the increasing interest in blockchain-based prediction markets.
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XRP Excluded Despite Recent Relaunch
Perhaps the most noticeable omission from Grayscale’s Top 20 list is XRP, despite the relaunch of the XRP Trust for accredited investors. The relaunch has shown promising results, with the trust’s net asset value (NAV) increasing by 14.35% since its reintroduction, according to data from September 20, 2024.
While the XRP Trust has seen positive performance since its relaunch, Grayscale did not include it in its list of top assets for Q4 2024. The reasons for this decision remain unclear, as other assets with lower market capitalizations have been featured on the list.
Grayscale’s focus for this quarter appears to prioritize assets that align with emerging market trends and catalysts, which may explain why XRP was left out.
The company’s latest report highlights the shifting dynamics of the digital asset market. While Bitcoin and Ethereum continue to dominate, new platforms like Sui and Solana are gaining traction, reflecting the ongoing evolution of the space.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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