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Grayscale Research has updated its top 20 altcoin list for the first quarter of 2025, adding six new digital assets. The list highlights cryptocurrencies the company believes demonstrate strong potential for the upcoming quarter. The Six Tokens According to the December 30 report , this update emphasizes tokens linked to three primary market themes: the U.S. election and its potential regulatory implications for decentralized finance (DeFi) and staking, breakthroughs in decentralized AI technologies and blockchain adoption by AI agents, and the growth of the Solana ecosystem. Based on these factors, Grayscale has added Hyperliquid (HYPE), Ethena (ENA), Virtual Protocol (VIRTUAL), Jupiter (JUP), Jito (JTO), and Grass (GRASS) to its Top 20 list. Hyperliquid, a Layer 1 blockchain, powers financial applications and operates a decentralized exchange for perpetual futures with a fully on-chain order book. On the other hand, Ethena introduced USDe, a stablecoin backed by hedged positions in Bitcoin (BTC) and Ethereum (ETH), offering staking opportunities tied to price differences between spot and futures markets. Virtual Protocol enables the creation of tokenized AI agents on Base, an Ethereum Layer 2 network. This functionality allows agents to interact autonomously with their surroundings and users. Jupiter, the leading decentralized exchange aggregator on Solana, has the highest total value locked (TVL) of any application on the network. Another Solana project, Jito, is a liquid staking protocol that generated over $550 million in fee revenue in 2024. The last of the six, Grass, operates as a decentralized data-sharing platform. It compensates users for sharing unused internet bandwidth via a Chrome extension. This bandwidth is then sold to AI developers for training machine learning models, offering a unique approach to monetizing data. In addition to these new entries, Grayscale rotated out some tokens, including Celo (CELO), from the Top 20. While these removed tokens remain relevant to the broader crypto ecosystem, the company explained that the updated selection better reflects the risk-adjusted returns expected for the upcoming quarter. Smart Contract Platforms Grayscale’s latest report also highlighted the intensifying competition among smart contract platforms. Despite major wins in the final quarter of 2024, Ethereum faces growing pressure from competitors like Solana and The Open Network. The research explains that these platforms are gaining traction by addressing the ‘blockchain trilemma,’ balancing scalability, security, and decentralization with innovative solutions. Fee revenue also continues to play a critical role in driving the value of smart contract platform tokens. For that reason, Grayscale included Ethereum, Solana, Sui, and Optimism in its top 20 list for Q1 2025 as standout smart contract platforms. According to the asset manager, these projects can generate sustainable fee revenues while delivering long-term value to their ecosystems. The post Grayscale Updates Top 20 Altcoin List for Q1 2025 with These 6 New Additions appeared first on CryptoPotato .
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Here’s How Many Shiba Inu (SHIB) Tokens Got Burned in 2024
TL;DR Shiba Inu’s circulating supply was reduced last year due to the billions of burned tokens. SHIB’s price is up 115% on a yearly scale, thanks to numerous potential factors, such as the burning mechanism, Shibarium’s progress, and others. The Burning Goes on The popular meme coin initially had a total supply of a whopping one quadrillion tokens. At launch, 50% of the amount was locked into the decentralized exchange Uniswap to provide liquidity, while the remaining half was sent to Ethereum’s co-founder Vitalik Buterin. The computer programmer later donated trillions of SHIB to the India COVID-Crypto Relief Fund and other charity organizations. Eventually, he burned the remaining 410 trillion SHIB tokens, worth approximately $6.7 billion at the time . Buterin’s initiative was followed by an imminent price rally for the dog-themed meme coin. After all, fundamental principles of economy dictate that reducing the circulating supply combined with non-declining demand should be followed by a pump. In 2022, the Shiba Inu team officially adopted a burning mechanism that enables the community to send tokens to a dead wallet voluntarily. According to a recent post , over 44.6 billion SHIB, worth a little more than $1 million, were destroyed throughout 2024. While the USD equivalent of the stash might not sound that impressive (considering the fact that it stretches over the span of 12 months), continuous efforts in that field will make the meme coin more scarce and potentially more valuable. Meanwhile, the burn rate has jumped roughly 100% in the past 24 hours, resulting in nearly 1.9 million SHIB sent to a null address. SHIB Price Outlook Reducing the circulating supply of the meme coin throughout 2024 could be one reason why its price has charted a solid increase of 115% between January 1 last year and the beginning of 2025. SHIB Price, Source: CoinGecko Other factors include the booming cryptocurrency market, more particularly the meme coin niche, and the further advancement of Shibarium. The layer-2 scaling solution, which aims to foster the development of the Shiba Inu ecosystem, blasted through numerous milestones last year. Around Christmas, the total transactions processed on the protocol exceeded 700 million, while prior to that, wallet addresses crossed 2 million. The post Here’s How Many Shiba Inu (SHIB) Tokens Got Burned in 2024 appeared first on CryptoPotato . Crypto Potato
400% Liquidations Imbalance Stuns Dogecoin (DOGE) in Overnight Rally
DOGE bulls win big as Dogecoin rockets 400% overnight in liquidations imbalance Crypto Potato
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