AI and Solana DeFi included in Grayscale’s Q1 2025 token list

Grayscale, a prominent asset manager, has unveiled its updated list of top 20 tokens to monitor in the first quarter of 2025.

This quarterly report highlights the inclusion of emerging tokens like Hyperliquid (CRYPTO:HYPE), Ethena (CRYPTO:ENA), Virtuals (CRYPTO:VIRTUAL), Jupiter (CRYPTO:JUP), Jito (CRYPTO:JTO), and Grass (CRYPTO:GRASS).

These additions reflect significant industry trends: advancements in decentralised AI, a growth-focused Solana (CRYPTO:SOL) ecosystem, and a regulatory landscape in the United States that appears more crypto-friendly.

Tokens such as Virtuals and Grass represent AI-driven platforms, while Hyperliquid is recognised as a high-performance layer-1 (L1) network.

Ethena, Jupiter, and Jito focus on decentralised finance (DeFi), with the latter two being native to Solana.

Grayscale’s continued emphasis on previously established themes such as Ethereum (CRYPTO:ETH) scaling solutions, tokenisation, and decentralised physical infrastructure (DePIN) remains evident in its retention of tokens like Optimism (CRYPTO:OP), Chainlink (CRYPTO:LINK), and Helium (CRYPTO:HNT).

The report also underscores the competitive nature of the smart contract market, featuring Ethereum, Solana, Avalanche (CRYPTO:AVAX), and Sui (CRYPTO:SUI).

The firm noted Ethereum’s underperformance in 2024, attributing it to the proliferation of alternative L1 blockchain networks.

DeFi applications on Solana have seen notable growth, with total value locked rising from $1.5 billion in January to $8.5 billion by December, according to DefiLlama.

Jito, a Solana-based staking pool, reported monthly revenues exceeding $100 million in late 2024.

Broader trends, including AI integration in decentralised communities and the adoption of real-world asset tokenisation, also shaped the asset manager’s outlook.

“AI agents are expected to take on a more prominent role within decentralised communities,” said J.D. Seraphine, CEO of Web3 AI developer Raiinmaker.

Grayscale’s analysis aligns with industry optimism fueled by policy shifts and technological advancements, particularly under a potentially crypto-friendly U.S. administration.

At the time of reporting, the Solana price was $189.38.