Grayscale Research updated its ‘Top 20’ cryptos for Q1 2025

Grayscale’s research arm has updated its list of the top 20 cryptocurrency assets to watch in the first quarter of 2025.

Based on several factors, Grayscale Research has updated its list of cryptocurrencies with potential in the first quarter of 2025. The list includes six new diversified tokens, including HyperLiquid (HYPE), Ethena Labs (ENA), Virtuals Protocol (VIRTUAL), Jupiter (JUP). Jito (JITO) and Turf (TURF).

While Chainlink (LINK), Helium and Optimism (OP) returned to the top 20, Celo was removed from the updated list.

To compile the “Top 20” list, Grayscale Research evaluated a variety of metrics including network adoption, growth catalysts, fundamentals, tokenomics, supply data, and potential tail risks.

The updated list includes assets in decentralized finance, staking and liquid staking, Solana’s ecosystem, and artificial intelligence. Greyscale researchers highlighted that these areas will likely attract greater attention from investors and regulators in the first quarter of 2025.

The research department also noted that the rise continues for sectors such as Ethereum layer-2 networks and tokenization.

In addition to the new themes mentioned above, themes from previous quarters such as Ethereum scaling solutions, tokenization, and decentralized physical infrastructure (DePIN) continue to excite us. Each of these themes is represented by the inclusion of protocols returning to the top 20, such as Optimism, Chainlink, and Helium, respectively.

Grayscale Research

In other Grayscale-related news, the investment manager filed a Form 8-K for Horizon Trust with the U.S. Securities and Exchange Commission last week. The firm also launched individual trust products powered by Lido DAO (LDO) and Optimism.