Grayscale has identified 20 cryptocurrencies with high potential.

The world’s largest digital asset management company, Grayscale, has published a report commenting on the state of the cryptocurrency market. In the analysis, the company expressed its expectation that, in addition to Bitcoin and Ether, 18 other coins will come to the forefront in the third quarter of 2024. The firm also expects the rise of AI-related coins to continue.
Grayscale has identified 20 cryptocurrencies with high potential.

Grayscale, the world’s largest digital asset management company, has published a report sharing its expectations for the third quarter of 2024. The company, which is awaiting final SEC approval for an Ether spot ETF alongside the launch of a Bitcoin spot ETF, focused on the rise of AI-related coins in its analysis. Grayscale also expressed its expectation that the ecosystem will grow around the Ethereum chain with the acceptance of Ethereum spot ETFs.

According to the report, Grayscale anticipates that Ethereum ETFs will attract significant investment, similar to Bitcoin ETFs, and increase the valuations of tokens within the Ethereum ecosystem. The company further stated, “If ETF approval increases interest and adoption of Ethereum, we may see increased transaction activity and valuation support for certain second-layer tokens (e.g., Mantle), Ethereum DeFi protocols (e.g., Uniswap, Maker, and Aave), and other assets central to the operation of the Ethereum network (e.g., Lido).”

Moreover, Grayscale believes that various existing categories, particularly the intersection of blockchain technology and artificial intelligence, will continue to be a focus in the upcoming quarter. The company highlighted Near as one of the assets in this category, noting that Near is among the top smart contract platforms in terms of daily active users. The report also emphasized that decentralized GPU marketplaces like Render and Akash could be attractive to investors looking to invest in the AI sector.

Grayscale also drew attention to projects with unique adoption trends, highlighting Toncoin and Pandle. The report noted that systems like Toncoin and Pandle distinguish themselves with their own technologies. However, it also pointed out that excessive token unlocks in tokens with user adoption, such as Arbitrum and Optimism, could be a disadvantage for investors.

The list of high-potential projects for the third quarter includes both established and new coins in the crypto world, such as NEAR, AKT, TON, LINK, RNDR, and UNI. Grayscale stated that this list would be updated quarterly and noted that many of the listed assets are highly volatile and should be considered high-risk investments.

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