Chainfeeds Introduction:
Grayscale Research released the third quarter 2024 cryptocurrency industry report, dividing the digital asset market into five parts based on the Crypto Sectors framework: currency, smart contract platform, finance, consumer and culture, utilities and services, to evaluate the performance of tokens in different parts and select the Grayscale Research Top 20 high-potential tokens.
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Grayscale: Our Crypto Sectors framework shows that year-to-date, despite the sharp rise in Bitcoin prices, performance across the asset class has been mixed, with only about 30% of crypto tokens rising in price. As with the public equity markets, where a handful of large technology companies have dominated index returns, this year's cryptocurrency returns lack breadth. One relative bright spot is some of the assets related to artificial intelligence (AI) technology, which can be found in the smart contract platform and utility and service Crypto Sectors. These protocols attempt to solve AI-related problems (such as robots and deep fakes, privacy, model verification), provide resources critical to the development of AI (such as computing, storage, data), and/or provide general platforms for AI-related services. So far this year, a basket of AI-related currencies has increased by 80% amid a small decline in the overall crypto market. With the potential approval of Ethereum spot ETPs, we expect to focus on the Ethereum ecosystem this quarter. If the approval of ETPs sparks interest and adoption of Ethereum, we may also see rising activity and valuation support for Layer 2 tokens such as Mantle, Ethereum DeFi protocols such as Uniswap, Maker, and Aave, and other assets that are critical to the functioning of the Ethereum network such as Lido. 【Original text in English】
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