The grayscale report classifies the encryption industry into five major sectors, including currency, smart contracts, finance, consumer culture and infrastructure services

Grayscale has released a cryptocurrency industry classification framework, dividing the digital asset market into five major sectors: Currencies, Smart Contract Platforms, Financials, Consumer & Culture, and Utilities & Services.

The report shows that despite Bitcoin's significant rise this year, the overall trend of crypto assets is diverging. Currency assets include Bitcoin, XRP and Zcash; Smart Contract Platforms include Ethereum, Solana and Polygon; Financials include Maker, Uniswap and Aave; Consumer & Culture includes ApeCoin, Decentraland and Sandbox; Utilities & Services includes Chainlink, Filecoin and Lido DAO.