Grayscale, a crypto asset manager, has announced updates to its Top 20 asset list for Q3 2025, adding two new cryptocurrencies.
Update on Grayscale's Asset List
On June 26, Grayscale updated its Top 20 asset list as part of its Q3 2025 report. The new assets include Avalanche and Morpho.
Reasons for Adding Avalanche and Morpho
Grayscale noted that Avalanche was included due to a recent surge in transaction volumes and user activity. This is linked to new gaming integrations, such as the game MapleStory, and increased stablecoin usage. Morpho was added for its rapid expansion as a decentralized lending protocol, now the second-largest by Total Value Locked, with over $4 billion in growing fee revenue.
Overall Trends in the Crypto Market
Grayscale's research also covers broader trends in the crypto market. Q2 2025 saw mixed returns across segments, with Bitcoin leading gains in the Currencies sector. Smart Contract Platforms recorded a rise in transaction volume, but fee revenues fell. Grayscale highlighted growing interest in decentralized AI, DeFi lending, and smart contract platforms despite broader macro and regulatory uncertainty.
With the update of its asset list, Grayscale emphasizes its confidence in the potential of Avalanche and Morpho, as well as the overall state of the crypto market fostering innovation in finance.
