Grayscale announced its 2024 Q4 cryptocurrency investment portfolio, adding 6 new tokens including Sui and Bittensor, indicating future development potential. Can we retail investors follow the layout? What is the follow-up potential?
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Grayscale’s investment portfolio in 2024Q4
As 2024 is about to enter the fourth quarter, Grayscale has also announced the list of 20 cryptocurrencies in the FTSE Grayscale Crypto Sector Index, of which 6 cryptocurrencies have been updated. Here are the 6 assets added before the end of this season:
Sui ($SUI): A high-performance Layer1 smart contract platform (public chain) that provides innovative applications.
Bittensor ($TAO): an open AI development platform (public chain) that allows developers to create subnets.
OP Ma inne t ($OP): Ethereum’s second-layer expansion solution based on Optimistic Rollups.
Helium ($HNT): Decentralized wireless network (WiFi) running on Solana, leader in the DePIN sector.
Celo ($CELO): Originally a Layer1 EVM public chain, it focuses on the development of stable coins and mobile device-friendly encrypted payments. It is undergoing a transition to Ethereum Layer2.
UMA ($UMA): Optimistic oracle, supporting Polymarket, the largest prediction market in the DeFi sector.
High performance public chain
The six new token combinations added this season reflect the blockchain track that Grayscale has recently focused on. Sui and OP Mainnet are both high-performance public chain tracks. Sui is a third-generation blockchain developed by a team of former Meta engineers. Sui carried out a network upgrade two months ago, increasing its transaction speed by 80% (the ultimate acceleration), surpassing Solana, the leader in the field. .
OP Mainnet is affiliated to Ethereum Layer 2. Through its powerful developer suite OP Stack, the OP Mainnet development team has assisted Ethereum in establishing several highly scalable "super chain" ecosystems, including Coinbase's Base blockchain and OpenAI. Worldcoin developed by founder Sam Altman.
Functionally specialized projects
The addition of Celo and UMA is based on their unique adoption trends, which are stablecoin applications and prediction markets respectively. Celo focuses on stablecoin payments in developing countries. Through cooperation with the Opera browser and its payment channel MiniPay, Celo occupies market penetration in Africa. This has further enabled Celo to surpass the number of stablecoin users in recent times. Tron. Celo is using OP Stack to transition from Layer1 blockchain to Ethereum Layer2.
UMA is an oracle project used by Polymarket. It is responsible for recording the execution results of the Polymarket Event Contract. If the predicted results are controversial, UMA can promote users to initiate a vote to resolve, thereby avoiding concerns about centralization or human intervention.
AI and DePIN sector
Helium is a leading project in the DePIN sector, using a decentralized model to provide efficient resource allocation for wireless network coverage and connections, and to reward participants who maintain network construction. Helium's market size has expanded to more than 1 million WiFi hotspots and 100,000 mobile device users, with network fee revenue exceeding $2 million so far this year. Bittensor is one of the strong competitors in the AI sector. This public chain allows developers to establish subnets, create a platform for sharing and training AI models, and rewards its node maintainers through the native token $TAO.
Which cryptocurrencies has Grayscale removed?
In addition to the addition of the above cryptocurrencies, Grayscale also removed 6 tokens this quarter, namely Render ($RNDR), Mantle ($MNT), Pendle ($PENDLE), Illuvium ($ILV) and Raydium ($ RAY). Grayscale believes that although these projects still have development potential, the updated top 20 list can provide better returns and risk management in the upcoming fourth quarter.
Friends who don’t know what to buy can refer to Grayscale’s list. After all, the agency’s vision is still ruthless.
