Leading asset manager Grayscale has updated its list of the highest 20 high-upside tokens. The brand new list has six additions, out of which two tokens – Jupiter ($JUP) and Jito ($JTO) – run on Solana.
Jupiter is one in all the largest aggregators of decentralized exchanges on Solana, with the best Total Value Locked (TVL) of all applications on the network. Jito is one other popular project – a liquid staking protocol that generated over $550M in fee revenue in 2024.
The remaining 4 latest tokens are Virtuals Protocol ($VIRTUALS), Grass ($GRASS), Ethena ($ENA), and Hyperliquid ($HYPE).
How Did Grayscale Select Top Tokens?
In a report published on December 30, 2024, Grayscale explained that each one the tokens on its list were related to one in all the three parameters:
- Trump’s victory within the US elections and its effect on decentralized finance (DeFi) and staking.
- Latest discoveries in decentralized AI technologies.
- The growing dominance of Solana’s ecosystem.
Grayscale expects most tokens that exhibit these parameters to perform well in 2025.
Two projects from the Solana ecosystem joining this list suggests a transformative shift within the crypto industry. Until now, Bitcoin and Ethereum have dominated the crypto space, however the established order is likely to be about to vary.
On top of that, Solana ($SOL) outperformed each $BTC and $ETH for the primary time ever. The network experienced an all-time low in 2022 after the collapse of FTX. Nonetheless, since then, $SOL value grew by 2,000%.
As per Glassnode’s report, 727 days passed since $SOL’s 2022 dip. Out of this time, $SOL price motion beat each $BTC and $ETH on 344 days.
Could 2025 Be the 12 months of $SOL ETFs?
Grayscale’s interest in Solana will also be a sign that it is likely to be contemplating issuing $SOL ETFs – just the best way it did with $BTC.
Experts predict an enormous demand for $SOL ETFs. The primary reason for that is that $SOL’s market cap is $91B, which is way lower than $ETH’s $403B market cap. Which means even a small investment in $SOL can have an enormous positive impact on its value.
An organization like Grayscale will definitely not wish to miss a possibility like this. Nonetheless, it must first tackle just a few obstacles. As an illustration, the $SOL ETF remains to be under review by the US Securities and Exchange Commission (SEC). We’re more likely to see a preliminary decision by the tip of January 2025.
Closing Remarks
All that is positive news for investors into $SOLX, a latest Layer-2 scaling solution for Solana that addresses the primary network’s scalability issues. Some industry experts, like ClayBro, call $SOLX the following 100x token.
Nonetheless, remember to exercise caution and do your individual research before investing your hard-earned money in any asset, including the best meme coins.