Grayscale’s Latest Update: Top 20 Tokens with Promising Growth Potential
Leading asset manager Grayscale has recently updated its list of the top 20 tokens with the highest growth potential, adding six new entries. Notably, two of these tokens—Jupiter ($JUP) and Jito ($JTO)—are built on the Solana network.
The Rise of Solana-Based Tokens
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Jupiter stands out as a major aggregator for decentralized exchanges (DEX) on Solana, boasting the highest Total Value Locked (TVL) among applications on the network. Meanwhile, Jito is gaining popularity as a liquid staking protocol, generating over $550 million in fee revenues by 2024.
The other four tokens newly included in Grayscale’s list are Virtuals Protocol ($VIRTUALS), Grass ($GRASS), Ethena ($ENA), and Hyperliquid ($HYPE).
Understanding Grayscale’s Token Selection Criteria
In a report released on December 30, 2024, Grayscale outlined that all tokens on their list meet at least one of these three criteria:
- The impact of Donald Trump’s victory in the U.S. elections on decentralized finance (DeFi) and staking.
- Innovations in decentralized AI technology.
- The increasing dominance of the Solana ecosystem.
Grayscale anticipates that tokens aligning with these parameters will likely perform well in 2025. The inclusion of two Solana-based projects in their list indicates a significant shift within the crypto industry. Traditionally dominated by Bitcoin and Ethereum, the crypto market may soon see changes.
Solana’s Market Performance
For the first time, Solana ($SOL) has outperformed both Bitcoin ($BTC) and Ethereum ($ETH). After hitting an all-time low in 2022 following the collapse of FTX, the value of $SOL has surged by an impressive 2,000%.
According to Glassnode reports, 727 days have passed since the fall of $SOL in 2022. During this period, $SOL’s price movements have surpassed $BTC and $ETH on 344 occasions.
Is 2025 the Year for $SOL ETFs?
Grayscale’s interest in Solana could indicate that the company is considering launching $SOL ETFs, similar to their $BTC offerings. Experts predict significant demand for $SOL ETFs due to its market capitalization of $91 billion, which is substantially lower than $ETH’s $403 billion.
Even small investments in $SOL could have a considerable positive impact on its value. Grayscale, as a major player, is unlikely to pass up such opportunities. However, several obstacles remain, including the $SOL ETF’s current review status by the US Securities and Exchange Commission (SEC). An initial decision is expected by late January 2025.
Final Thoughts
All these developments are encouraging for investors in $SOLX, a new Layer-2 solution for Solana designed to address scalability challenges on the main network. Industry experts like ClayBro have even suggested that $SOLX could yield up to 100 times returns.
Nevertheless, it’s essential to exercise caution and conduct independent research before investing in any assets, including the best meme coins. Visit the official Solaxy presale website here for more information.
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