Grayscale has recently revealed it’s for the top 20 crypto picks, excluding XRP, which have sparked discussions in the broader crypto market. Notably, this comes just after the leading investment firm announced the XRP Trust, which sparked a rally in the crypto’s price earlier this month. Besides, it has also fueled discussions over a potential XRP ETF launch in the coming days.
Meanwhile, here we explore the list of the tokens that the firm has picked as the top cryptos for the final quarter of 2024.
Grayscale Excludes XRP From Q4 Crypto List
The latest update highlights several emerging trends in the crypto market, focusing on AI and tokenization projects. However, it has excluded XRP from the list despite the recent positive performance and the launch of the Grayscale XRP Trust, which have sparked optimism in the market. Instead, it added projects like SUI, TAO, CELO, and others, sparking market discussions.
Meanwhile, the investment firm’s quarterly rebalancing process focuses on reflecting the evolving dynamics of the crypto sector. Notably, the firm, in its report, said “Our updated Top 20 represents a diversified set of assets across Crypto Sectors that have high potential over the coming quarter.”. However, it also warned about the high volatility and risk associated with these assets.
The latest move by Grayscale to exclude XRP from the top crypto picks for the fourth quarter has sparked discussions, especially as the crypto is now considered a strong contender for broader institutional adoption. Several XRP community members have questioned whether this decision is due to the regulatory uncertainties associated with the crypto.
For instance, the broader crypto community is anticipating a potential US SEC appeal in the Ripple lawsuit. After the conclusion of the Ripple Vs SEC case, speculations have soared over a potential appeal by the agency, which could extend the legal battle between the two parties.
Ethereum Remains In Focus As XRP Price Slips
XRP price has noted volatile trading lately, with it currently trading at $0.5869, noting a decline of 0.85%. Its trading volume surged 7% to $1.24 billion, and the crypto has touched a 24-hour high of $0.597.
Meanwhile, talking about the Grayscale’s top crypto picks, Ethereum continues to outperform other smart contract platforms, even as competition intensifies from the likes of Solana, Tron, and Toncoin. The investment firm acknowledged that while Ethereum has underperformed Bitcoin in 2024, it still leads the smart contract sector by metrics such as user adoption, developer activity, and fee generation.
It’s worth noting that another report has recently predicted Solana to challenge the Ethereum dominance, due to its technological advancements and other features.
Rupam Roy
Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news.
Rupam’s career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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