Grayscale has released an updated top-20 cryptocurrency list for Q3 2023, which includes Avalanche and Morpho, while XRP and Cardano were excluded.
Reasons for Adding Avalanche and Morpho
Grayscale chose Avalanche and Morpho based on several criteria, including market liquidity and project sustainability. Avalanche attracted attention due to its renowned technical scalability, while Morpho stands out with its innovative lending and borrowing protocol.
Justification for Excluding XRP and Cardano
XRP continues to face ongoing legal challenges that have clouded its liquidity, while Cardano did not meet transaction volume expectations despite community growth.
Implications of Updates for Institutional Investors
The changes in the top-20 list may impact institutional investors' portfolios, as Grayscale aims to improve risk assessments and adapt to market dynamics.
The changes in Grayscale's list reflect the current state of the cryptocurrency market and the needs of institutional investors. This update may influence future investment strategies.
