Leading asset manager Grayscale has updated its list of the top 20 tokens with high profit potential. The new list includes six additions, two of which tokens – Jupiter ($JUP) and Jito ($JTO) – run on Solana.
Jupiter is one of the largest aggregators of decentralized exchanges on Solana with the highest Total Value Locked (TVL) of any application on the network. Jito is another popular project – a liquid staking protocol that generated over $550 million in fee income in 2024.
The remaining four new tokens are Virtuals Protocol ($VIRTUALS), Grass ($GRASS), Ethena ($ENA) and Hyperliquid ($HYPE).
How did Grayscale choose the top tokens?
In a report published on December 30, 2024, Grayscale explained that all tokens on its list are linked to one of three parameters:
- Trump’s victory in the US elections and its impact on decentralized finance (DeFi) and staking
- New discoveries in decentralized AI technologies
- The growing dominance of the Solana ecosystem
Grayscale expects most tokens that have these parameters to perform well in 2025.
Two projects from the Solana ecosystem joining this list indicate a transformative change in the crypto industry. So far, Bitcoin and Ethereum have dominated the crypto space, but the status quo may soon change.
Additionally, Solana ($SOL) outperformed both $BTC and $ETH for the first time. The network experienced an all-time low in 2022 following the collapse of FTX. However, since then, the value of $SOL has increased by 2,000%.
According to Glassnode’s report, 727 days have passed since $SOL dropped in 2022. During this time, $SOL’s price action exceeded both $BTC and $ETH for 344 days.
Could 2025 be the year of $SOL ETFs?
Grayscale’s interest in Solana may also be an indication that the company may be thinking about issuing $SOL ETFs – just like it did with $BTC.
Experts predict huge demand for $SOL ETFs. The main reason for this is that $SOL’s market cap is $91 billion, which is far less than $ETH’s market cap of $403 billion. This means that even a small investment in $SOL can have a huge positive impact on its value.
A company like Grayscale certainly wouldn’t want to miss such an opportunity. However, some hurdles must first be overcome. For example, the $SOL ETF is still under review by the US Securities and Exchange Commission (SEC). We expect a preliminary decision at the end of January 2025.
Final remarks
All of this is positive news for investors in $SOLX, a new Layer 2 scaling solution for Solana that addresses the mainnet’s scalability issues. Some industry experts like ClayBro are calling $SOLX the next 100x token.
However, remember to exercise caution and do your own research before investing your hard-earned money in any asset, including the best meme coins.