Crypto Asset Manager Grayscale has updated its top 20 list for the third quarter and added Avalanche and Morpho – two assets that will see it strongly potential in the coming months.
On June 26, Grayscale updated the Top 20 activa list as part of his Q3 2025 Crypto Sectors ReportWith the only changes the addition of avalanche (Avax) and Morpho (Morpho).
According to Grayscale Research Team, Avalanche has been added due to a recent increase in transaction volume and user activity, possibly linked to new gaming integrations (in particular the boarding of video game Maplestory) and Stablecoin use, which suggests that organic ecosystem growth growth.
Morpho was admitted for its rapid expansion as a decentralized loan protocol, now the second largest on locked value, with more than $ 4 billion and growing reimbursements. Grayscale also emphasized the launch of Morpho V2 last month, aimed at bridging Defi with traditional financial institutions.
More generally, the company sees a strong potential in lending on the chain and believes that lending-oriented assets such as Morpho, Aave (Aave) and Maple Finance (syrup) (also on the top 20 list) are well positioned to catch a meaningful part of future growth in the sector.
To make room for Avax and Morpho, Lido (LDO) and optimism (OP) were removed, despite their core rolls in the set -up and low 2. Gray values, regulatory uncertainty marked the use of Lido’s income, while having optimism to conquer the economic value despite widespread technical accegation.
The report also dealt with wider trends in the crypto sector. Q2 2025 saw mixed returns about segments, with Bitcoin leading profit in the currency sector. Smart contract platforms registered an increase in the transaction volume, but the income from the reimbursement decreased when the memecoin activity cooled. Grayscale emphasized the growing interest in decentralized AI, Defi loans and smart contract platforms despite wider macro and regulatory uncertainty.
Moreover, the company has completed the launch of its AI-Crypto sector, with 24 AI-related tokens now worth $ 15 billion, led by Bittensor (TAO).
