The Grayscale Researche team recently analyzed the performance of the Cryptocurrency Sectors. In this context, it announced the Top 20 tokens for Q3 2024. Grayscale expects the approval of Ethereum ETFs to increase investments and raise the value of tokens in the Ethereum ecosystem, including layer two tokens and DeFi protocols.
Grayscale published a report with expectations for the third quarter of 2024!
Digital asset management firm Grayscale has published a report outlining its expectations for the third quarter of 2024. The report highlights the potential growth of artificial intelligence (AI) coins and the adoption of Ethereum spot ETFs. Grayscale predicts that Ethereum ETFs will attract significant investment and increase the value of tokens in the Ethereum ecosystem. The approval of these ETFs could lead to increased trading activity and valuation support for layer-two tokens, Ethereum DeFi protocols, and assets that are crucial to the functioning of the Ethereum network.
Furthermore, Grayscale believes that the intersection of Blockchain technology and artificial intelligence will continue to be a focal point in the coming quarter. The report mentions Near, one of the largest smart contract platforms, as well as decentralized GPU markets such as Render and Akash as one of the assets in this category.
Key takeaways from the report and 20 cryptocurrency projects with high potential
Crypto markets have shown mixed returns this year, despite Bitcoin’s big gains. Similar to public equity markets, crypto returns have lacked breadth.
However, tokens adjacent to AI technologies have delivered strong returns.
The Grayscale Research team expects the AI theme to remain important and crypto markets to focus heavily on the Ethereum ecosystem in Q3 2024 in anticipation of spot ETH ETP approval. Grayscale predicts that the intersection between Blockchain technology and AI will be in focus in the coming quarter, highlighting assets such as Near and decentralized GPU markets. The report also lists high-potential projects for the third quarter. It warns that these are high-risk assets. In this context, Grayscale shares the list below.
“Cryptocurrency market is dominated by ‘predatory VCs’!”
As you have been following on Kriptokoin.com, the weight of institutional investors in the crypto market is increasing. There are those who are happy about this, but there are also those who are uncomfortable. Justin Bons, founder and CIO of cryptocurrency fund Cyber Capital, criticized the current dominant financial model of the cryptocurrency market. According to Bons, cryptocurrencies are currently dominated by “predatory VCs” and this has come about due to regulatory crackdowns that have made ICOs illegal. This penalizes and drives away small investors and retail. Bons notes that VCs enter pre-pre-sales at heavily discounted prices and then sell at inflated prices.
The analyst emphasizes the need to restructure ICOs as it democratizes them. Bons also states that the current system has strict requirements for accredited investors, which prevents retail and less wealthy investors from accessing high-yield investment opportunities. Bons argues that the current situation in the crypto market is not ideal.
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