Grayscale Adds Solana Projects to Top 20

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.