
Grayscale Research Top 20 List
19 Projects, Created Jun 27, 2025, Updated Jun 27, 2025
The Grayscale Research team analyzes hundreds of digital assets every quarter to provide reference for the rebalancing process of the FTSE/Grayscale cryptocurrency industry index series. Based on this process, the Grayscale Research team will generate a list of assets for the top 20 in the cryptocurrency industry. The list covers a diversified portfolio of assets in the cryptocurrency industry, which Grayscale believes have great potential in the coming quarter, covering a range of factors including network growth/adoption, upcoming catalysts, fundamental sustainability, token valuation, token supply inflation, and potential tail risks.
Grayscale Research Top 20 List
19 Projects, Created Jun 27, 2025, Updated Jun 27, 2025
The Grayscale Research team analyzes hundreds of digital assets every quarter to provide reference for the rebalancing process of the FTSE/Grayscale cryptocurrency industry index series. Based on this process, the Grayscale Research team will generate a list of assets for the top 20 in the cryptocurrency industry. The list covers a diversified portfolio of assets in the cryptocurrency industry, which Grayscale believes have great potential in the coming quarter, covering a range of factors including network growth/adoption, upcoming catalysts, fundamental sustainability, token valuation, token supply inflation, and potential tail risks.

Hyperliquid
Performant L1

Virtuals Protocol
AI agent infrastructure

Bittensor
Blockchain-based machine learning network

Avalanche
Decentralized blockchain

Ethereum
The first blockchain with smart contract functionality

Sui
Layer 1 blockchain

Morpho
Decentralized lending-borrowing protocol

Bitcoin
Decentralized digital currency

Uniswap
Decentralized trading protocol

Maple Finance
On-chain institutional capital marketplace

Grass
Network sharing application

Aerodrome
A central trading and liquidity marketplace on Base

Chainlink
Oracle infrastructure

Story Protocol
Powering web3 narrative universes via story legos

Aave
Decentralized lending-borrowing protocol

GEODNET
Global Earth Observation Decentralized Network

Helium
Decentralized network of wireless Hotspots

Jito
MEV infrastructure for Solana

Solana
High performance underlying blockchain

Hyperliquid
Performant L1

Virtuals Protocol
AI agent infrastructure

Bittensor
Blockchain-based machine learning network

Avalanche
Decentralized blockchain

Ethereum
The first blockchain with smart contract functionality

Sui
Layer 1 blockchain

Morpho
Decentralized lending-borrowing protocol

Bitcoin
Decentralized digital currency

Uniswap
Decentralized trading protocol

Maple Finance
On-chain institutional capital marketplace

Grass
Network sharing application

Aerodrome
A central trading and liquidity marketplace on Base

Chainlink
Oracle infrastructure

Story Protocol
Powering web3 narrative universes via story legos

Aave
Decentralized lending-borrowing protocol

GEODNET
Global Earth Observation Decentralized Network

Helium
Decentralized network of wireless Hotspots

Jito
MEV infrastructure for Solana

Solana
High performance underlying blockchain



