In its latest research note, Grayscale has announced the addition of several tokens from artificial intelligence (AI) platforms and decentralized finance (DeFi) applications to its list of top 20 tokens to watch in the first quarter of 2025.
Updated Q1 2025 Watch List
Grayscale’s quarterly updated watch list now includes:
- Hyperliquid (HYPE): A high-performance layer-1 network
- Ethena (ENA): A DeFi app
- Virtuals (VIRTUAL): An AI platform
- Jupiter (JUP): A DeFi app native to Solana
- Jito (JTO): A DeFi app native to Solana and a staking pool that has seen significant revenue from priority fees and tips
- Grass (GRASS): An AI platform
Industry Trends
Each new addition benefits from one of three industry trends:
- A Friendlier US Regulatory Environment: The election of Donald Trump as President of the United States is expected to benefit the cryptocurrency industry, with promises to appoint industry-friendly leaders and make the US "the world’s crypto capital."
- Breakthroughs in Decentralized AI: AI agents are expected to take on a more prominent role within decentralized communities, with early use cases including crypto staking and on-chain trading.
- Growth in the Solana Ecosystem: The Solana ecosystem has seen significant growth, with total value locked surging from around $1.5 billion in January to nearly $8.5 billion as of December.
Continued Inclusion of Established Tokens
In addition to the new additions, Grayscale continues to include established tokens that represent ongoing industry trends:
- Ethereum Scaling Solutions: Optimism (OP), a platform focused on scaling Ethereum
- Tokenization: Chainlink (LINK), a decentralized oracle network
- Decentralized Physical Infrastructure (DePIN): Helium (HNT), a network for IoT devices
Smart Contract Platforms
Grayscale notes that smart contract platforms, such as Ethereum, Solana, Avalanche, and Sui, may be the most competitive market segment in the digital assets industry. The proliferation of alternative L1 blockchain networks has partially accounted for why ETH under-performed its peers in 2024.
Related News: Bitcoin Yield Opportunities
The article also touches on the growing interest in bitcoin yield opportunities, with a focus on what to watch for in this space.
Industry Insights
Crypto staking and on-chain trading will emerge as early AI use cases, according to industry executives. AI agents are expected to take on a more prominent role within decentralized communities, catalyzing adoption across various sectors.
Source: Cointelegraph Research
