As a seasoned cryptocurrency investor with over a decade of experience in this dynamic market, I find it intriguing to see Grayscale’s latest moves. The inclusion of lesser-known altcoins like Sui, Bittensor, Optimism, Helium, Celo, and UMA Protocol is a testament to the constant evolution of the blockchain landscape.
Grayscale, the world’s largest digital asset manager, recently disclosed a list of approximately 20 altcoins that they expect could surge ahead during the anticipated Q4 crypto market upswing. After conducting their quarterly reevaluation in September, the Grayscale Research team sifted through numerous cryptocurrencies to pinpoint significant trends.
The topics explored in this report cover the transformation of conventional assets into digital tokens, the increasing prominence of AI systems operating without central control (decentralized AI), and the continued fascination with meme-based cryptocurrencies. According to Grayscale’s findings…
The Top 20 we’ve selected offers a wide variety of crypto investments spanning different sectors, which we believe have great promise for the next three months (as shown in Exhibit 4). Our methodology considers multiple aspects such as expansion and adoption of networks, imminent catalysts, the durability of underlying fundamentals, token pricing, supply inflation of tokens, and potential unexpected risks.
Among their recommended picks for a robust Q4 rally are several notable cryptocurrencies such as Bitcoin ($65,735), Ethereum ($2,658), Solana ($157.1), Toncoin ($6.00), and Chainlink ($12.72). However, Grayscale has overlooked two other top altcoins – Ripple‘s XRP ($0.59) and Cardano‘s ADA ($0.41). Despite the ongoing legal battle between Ripple and SEC, XRP is not included in their top 20 cryptocurrencies.
Grayscale Promotes Some Lesser-Known Altcoins
A fresh addition to the Grayscale roster is Sui, a blockchain that’s been attracting attention due to its soaring transaction speed, increasing by a substantial 80% and outpacing Solana. Another notable inclusion is Bittensor, recognized for its innovative blend of cryptocurrency and artificial intelligence.
Bittensor strives to foster the expansion of its worldwide, open artificial intelligence network, demonstrating improvements in its economic framework, specifically regarding liquidity and pricing mechanisms.
Grayscale has added Optimism, a widely recognized Layer 2 scaling platform for Ethereum, to their list. Optimism’s fame stems from its “Superchain” structure, which has been embraced by other notable projects such as Coinbase’s second-layer solution.
These altcoins – Helium (HNT), Celo (CELO), and UMA Protocol (UMA) – have recently been added to the Grayscale list. Here’s a brief overview of each:
Helium excels in creating decentralized networks for physical infrastructure, specifically referred to as DePIN. They’ve developed effective strategies for managing resources within wireless network coverage. Their success is evident with over a million active hotspots, positioning them prominently in the market and generating revenue through network fees.
Instead of that, it’s worth noting that the Celo blockchain, which initially focused on mobile technology, is shifting towards becoming an Ethereum Layer 2 network. This transition underscores its commitment to stablecoins and payment solutions. Remarkably, this shift has been boosted in developing countries, particularly Africa, by the Opera Browser’s MiniPay app. Moreover, Celo has surpassed Tron in terms of daily stablecoin transactions, signifying a significant step forward for the blockchain.
Adding to the lineup of fresh arrivals is UMA Protocol, emphasizing its crucial part in the oracle sector for predictive markets in the blockchain environment. Through backing Polymarket, a prominent prediction market platform, UMA guarantees a transparent and decentralized approach to settling market results.
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2024-09-27 16:29