Grayscale’s research arm has updated its list of the top 20 cryptocurrency assets to watch in Q1 2025.

Based on several factors, Grayscale Research has updated its list of cryptocurrencies with potential in Q1 2025. The list features six new diversified tokens, including HyperLiquid (HYPE), Ethena Labs (ENA), Virtuals Protocol (VIRTUAL), Juputer (JUP), Jito (JITO), and Grass (GRASS).

Chainlink (LINK), Helium, and Optimism (OP) reentered the top 20, while Celo was excluded from the updated list.

Grayscale Research considered several metrics, including network adoption, growth catalysts, fundamentals, tokenomics, supply data, and potential tail risks, to compile its “Top 20” list.

The updated list includes assets in decentralized finance, staking and liquid staking, Solana’s ecosystem, and artificial intelligence. Grayscale researchers highlighted that these areas are likely to gain more investor and regulatory attention in Q1 2025.

The research division also noted continued bullishness for sectors like Ethereum layer-2 networks and tokenization.

In addition to the new themes mentioned above, we continue to be excited about themes from previous quarters such as Ethereum scaling solutions, tokenization, and decentralized physical infrastructure (DePIN). Each of these themes is represented by the inclusion of protocols that return 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 a Horizon Trust with the U.S. Securities and Commission last week. The firm also launched individual trust products underpinned by Lido DAO (LDO) and Optimism.