Solana Added to Grayscale’s Top 20 List Alongside Bitcoin

Grayscale Adds 6 New High-Upside Tokens to Its 2025 List

Leading asset manager Grayscale has unveiled its updated list of the top 20 tokens with high growth potential, highlighting six new additions. Notably, two of these tokens – Jupiter ($JUP) and Jito ($JTO) – are part of the growing Solana ecosystem.

Solana-Based Tokens Shine Bright

Jupiter, a major decentralized exchange (DEX) aggregator on Solana, leads the network in Total Value Locked (TVL), showcasing its dominant role in the ecosystem. Meanwhile, Jito, a popular liquid staking protocol, made waves by generating over $550 million in fee revenues in 2024 alone, further solidifying its position in the market.

In addition to Jupiter and Jito, four other tokens have joined Grayscale’s top 20 list: Virtuals Protocol ($VIRTUALS), Grass ($GRASS), Ethena ($ENA), and Hyperliquid ($HYPE).

Driving Factors Behind Grayscale’s Selection

Grayscale’s latest report, published on December 30, 2024, outlined the criteria used to identify these high-upside tokens. The selection was influenced by three key trends:

1. Impact of US Elections: The victory of Donald Trump in the recent elections and its implications for decentralized finance (DeFi) and staking platforms.
2. Decentralized AI Innovations: Emerging advancements in artificial intelligence technologies tied to blockchain and DeFi projects.
3. The Expansion of Solana’s Ecosystem: Solana’s growing prominence as a hub for next-generation blockchain applications.

Tokens showcasing one or more of these attributes are forecasted to perform exceptionally well in 2025, according to Grayscale.

Solana’s Resurgence: A Game-Changer?

The inclusion of Solana-based projects signifies a paradigm shift in the cryptocurrency landscape. Historically, Bitcoin ($BTC) and Ethereum ($ETH) have acted as the undisputed leaders in the space, but Solana may pose a strong challenge to the status quo.

After hitting a low point during the FTX collapse in 2022, Solana ($SOL) has witnessed a dramatic recovery, surging by 2,000% in value since then. Glassnode’s analysis reveals that in the 727 days following its 2022 dip, $SOL outperformed $BTC and $ETH on 344 occasions. This remarkable price action has cemented Solana’s position as a high-growth contender in the crypto industry.

2025: The Year of $SOL ETFs?

Grayscale’s interest in Solana could signal the potential for $SOL exchange-traded funds (ETFs), similar to its previous initiatives with $BTC ETFs. Industry experts believe $SOL ETFs could attract strong demand due to Solana’s comparatively lower market cap of $91 billion compared to Ethereum’s $403 billion. Even modest investments in Solana have the opportunity to significantly impact its price growth.

However, challenges remain. The $SOL ETF application is still under review by the U.S. Securities and Exchange Commission (SEC), with a preliminary decision expected by the end of January 2025.

Final Thoughts

The growing interest in Solana’s ecosystem and its inclusion in Grayscale’s coveted list indicates a transformative shift in the crypto industry. Investors are also eyeing $SOLX, a new Layer-2 scaling solution for Solana designed to address the network’s scalability issues, with predictions that it could be the next 100x token.

While the outlook for Solana and related tokens appears promising, investors should approach investments with diligence and conduct thorough research before committing funds. As always, consider diversifying your portfolio and understanding the risks associated with the volatile cryptocurrency market.