Solana joins Grayscale’s top 20 crypto list with projects like Jupiter and Jito, signaling a major shift in the blockchain ecosystem for 2025.
In a groundbreaking move, leading asset manager Grayscale has updated its top 20 high-upside token list, and Solana ($SOL) has emerged as a strong contender alongside crypto giants like Bitcoin ($BTC) and Ethereum ($ETH). The list, revealed on December 30, 2024, highlights Solana’s growing prominence in the cryptocurrency ecosystem, with two of its projects, Jupiter ($JUP) and Jito ($JTO), making the cut.
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This development signifies a transformative shift in the crypto landscape, with Solana solidifying its position as a major player. Let’s dive into the reasons behind Grayscale’s selection and what this could mean for the future of Solana.
Grayscale Top 20 Tokens: Key Additions
Grayscale’s updated list features six new tokens, including two from the Solana ecosystem:
- Jupiter ($JUP):
Jupiter is a leading decentralized exchange aggregator on Solana. It boasts the highest Total Value Locked (TVL) of all applications within the Solana network, making it a pivotal part of the ecosystem. - Jito ($JTO):
A liquid staking protocol, Jito generated over $550 million in fee revenue in 2024. Its popularity underscores Solana’s ability to foster high-value projects.
Other notable additions include:
- Virtuals Protocol ($VIRTUALS)
- Grass ($GRASS)
- Ethena ($ENA)
- Hyperliquid ($HYPE)
How Grayscale Picks Top Tokens
Grayscale employs a rigorous selection process based on three key parameters:
- The Trump Factor:
The victory of Donald Trump in the 2024 U.S. elections has reportedly influenced decentralized finance (DeFi) and staking ecosystems. - Advancements in Decentralized AI:
Tokens associated with breakthroughs in decentralized AI technologies are deemed high-potential investments. - Solana’s Rising Dominance:
Solana’s robust ecosystem and its ability to outperform competitors have caught Grayscale’s attention.
According to Grayscale, tokens that align with these parameters are expected to perform exceptionally well in 2025.
Solana: A Remarkable Turnaround
Solana’s inclusion in Grayscale’s top 20 marks a significant comeback for the network. After hitting an all-time low during the FTX collapse in 2022, Solana has experienced a dramatic recovery.
- 2,000% Growth: Solana’s value surged by 2,000% since its 2022 dip.
- Outperforming BTC and ETH: Glassnode reports that over the past 727 days, Solana’s price outperformed Bitcoin and Ethereum on 344 occasions.
This meteoric rise highlights the resilience and potential of Solana as a major blockchain network.
Could 2025 Be the Year of $SOL ETFs?
Grayscale’s growing interest in Solana suggests the possibility of a $SOL ETF in the near future. Experts believe that such a move could open the floodgates for institutional investments in Solana.
Why $SOL ETFs Make Sense:
- Lower Market Cap: Solana’s $91 billion market cap is significantly smaller than Ethereum’s $403 billion, making it more susceptible to positive price swings with smaller investments.
- Growing Adoption: With innovative projects like Jupiter and Jito, Solana is becoming a go-to network for developers and investors.
However, regulatory hurdles remain. The SEC is currently reviewing the $SOL ETF proposal, with a preliminary decision expected by January 2025.
The Role of $SOLX in Solana’s Growth
Another exciting development in the Solana ecosystem is the emergence of $SOLX, a Layer-2 scaling solution designed to address Solana’s scalability issues. Industry experts like ClayBro believe $SOLX could be the next 100x token, driving further innovation and adoption on the network.
Grayscale Adds Solana Projects
The inclusion of Solana projects in Grayscale’s top 20 list signals a pivotal moment for the network and its ecosystem. With the potential for $SOL ETFs on the horizon and groundbreaking projects like $JUP, $JTO, and $SOLX, Solana is poised to challenge the dominance of Bitcoin and Ethereum in 2025.
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As always, investors are encouraged to conduct thorough research and exercise caution before investing in any asset. Solana’s story is one of resilience and innovation, making it a network to watch in the ever-evolving crypto landscape.
