Grayscale Reveals Top Crypto Picks for Q2 2025 – Who’s Leading?

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• Grayscale adds Maple, Geodnet, and Story Protocol to its Q2 2025 Top 20 list, focusing on DePIN, RWA, and IP sectors.
• Arweave, Akash, and Jupiter were removed from the list due to underperformance but will remain under future observation.

Grayscale, the world’s largest crypto asset management company, has updated its list of top 20 crypto projects for Q2 2025. The latest update includes three new additions—Maple (SYRUP), Geodnet (GEOD), and Story Protocol (IP)—while removing underperforming assets such as Arweave, Akash, and Jupiter. 

Grayscale’s updated selection reflects its focus on the future of decentralized infrastructure, intellectual property tokenization, and real-world asset integration. These changes come amid a turbulent market, with the company’s research highlighting key trends for the year ahead.

Grayscale’s New Picks for Q2 2025

For Q2 2025, Grayscale has expanded its Top 20 list to include three promising projects. These newcomers are making strides in key sectors, including decentralized finance (DeFi), decentralized physical infrastructure (DePIN), and intellectual property (IP) tokenization.

Maple (SYRUP)

Maple is a DeFi lending platform specifically designed for institutional clients. The project currently boasts over $600 million in total value locked (TVL) and has generated $20 million in fees in the last month alone. 

To surpass $2 billion in TVL by 2025, Maple is positioning itself as a significant player in the DeFi space, especially in the institutional market, which remains underserved by platforms like Aave and Compound.

Geodnet (GEOD)

Geodnet is a decentralized infrastructure project providing real-time, highly accurate positioning data. The network, which operates in over 130 countries with more than 14,000 devices, has earned $3 million in monthly fee revenue. 

Geodnet’s technology benefits industries such as transportation, agriculture, and robotics by offering centimeter-level accuracy for positioning services. Despite its impressive growth, Grayscale has cautioned that GEOD’s lower market capitalization and limited exchange listings make it a riskier asset.

Story Protocol (IP)

Story Protocol aims to tokenize the $70 trillion intellectual property market. The project focuses on integrating blockchain technology to streamline the monetization of IP, especially in sectors like music and art. 

Notably, Story Protocol has already partnered with high-profile artists, including Justin Bieber and BTS, bringing their intellectual property to the blockchain. This early success highlights Story Protocol’s potential to reshape the IP landscape, offering new opportunities for content creators.

Assets Removed from Grayscale’s Top 20

Grayscale has also removed three projects from its Top 20 list due to their underperformance. These assets—Arweave (AR), Akash (AKT), and Jupiter (JUP)—have failed to meet expectations and are no longer considered top contenders in Grayscale’s analysis. 

However, Grayscale has indicated that it will continue to monitor these assets, recognizing their potential for future growth despite their recent setbacks.

Arweave, known for its decentralized storage solution, has struggled with declining interest and market value. Akash, a decentralized cloud computing platform, and Jupiter, a liquidity aggregator, both faced challenges in maintaining consistent performance. 

Although removed from the list, these projects will remain on Grayscale’s radar for potential re-entry if they show signs of recovery.

Market Insights for Q1 2025 and Future Focus Areas

Grayscale’s latest research report for Q1 2025 highlights several key trends in the cryptocurrency market. The first quarter saw a decline in the market’s overall capitalization, a trend that mirrored the downturn in tech stocks and other high-risk assets. The crypto market’s price index fell by 18% during the period, reflecting broader economic uncertainties.

Despite these challenges, certain sectors within the cryptocurrency ecosystem have shown resilience. Web3 applications in decentralized finance (DeFi), artificial intelligence (AI), and infrastructure have generated over $2 billion in revenue. 

Grayscale’s research suggests that DeFi platforms and decentralized infrastructure networks like Geodnet are poised to lead the market as interest shifts toward more utility-focused projects.

Additionally, Grayscale has emphasized three key focus areas for Q2 2025: Decentralized Physical Infrastructure Networks (DePIN), Real World Assets (RWA), and Intellectual Property Tokenization (IP). These areas are expected to drive the next wave of innovation in the crypto space, with projects like Geodnet and Story Protocol at the forefront of these developments.