The update of the cryptographic market of the Grayscale market highlights the increase in the AI sector, adds Avax and Morpho to the best selections
Grayscale Research has published its last quarterly breakdown of the cryptographic sector as the third quarter of 2025 begins, offering investors a detailed lens on changing trends, growth at the level of the sector and the market of digital assets in evolution of $ 3 billion.
In collaboration with FTSE/Russell, the framework of the Grayscale cryptographic sectors now organizes more than 260 digital assets in six key categories, which allows a deeper monitoring of trends, emerging narratives and price movements within a landscape that changes rapidly. This structure not only aligns Grayscale’s strategy, but also offers lighter institutional and retail investors for thematic investment in cryptography markets.
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Artificial intelligence becomes a formal cryptographic sector
An outstanding important of the Third Grayscale Trimester update is the Official creation of the Cryptographic Artificial Intelligence sectorwhich consists of 24 tokens centered on AI with a combined market capitalization of $ 15 billion, a triple increase of $ 5 billion in 2023. This movement formalizes what many in the cryptographic space have observed during the past year: the fusion of blockchain and the AI is no longer a speculative exaggeration but a structural change.
Bittensor, the badge active in this category, allows decentralized development and training of AI models, creating a unique crossroads between automatic open source learning and blockchain technology. The cryptographic sector of AI registered a 10% gain only in the second quarter, which underlines the increase in the appetite of investors by the projects that are positioned at the intersection of two rapid expansion technologies.
Market performance: progress in the midst of volatility
Grayscale Q2 2025 report underlines a mixed landscape for cryptographic investors. The 30% Bitcoin rally encouraged the cryptographic coins sector, which demonstrates its continuous role as coverage against inflation and global financial instability. However, the broader performance of the cryptocurrency market remained flat, heavy due to geopolitical tensions in the Middle East and changing global commercial policies that have added layers of uncertainty.
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| Source: Gray Scale |
The financial and AI sectors registered moderate profits, which reflect the healthy feeling of infrastructure investors and emerging narratives, while sectors such as the consumer and culture and services and services had a lower performance due to the cooling activity in tokens and memecors based on public services. The dichotomy illustrates the selective growth that characterizes the market, rewarding fundamentally strong projects, while the speculative sectors are stressed.
Activity in the chain: greater use, lower rates
Despite market volatility, the use of blockchain remains in a growth trajectory. The smart contract platforms processed more than 130 million transactions the last quarter, averaging 1,500 transactions per second. Interestingly, average transaction rates fell to $ 0.03, a remarkable decrease driven by a lower speculative commercial activity, particularly in previously hot segments such as Memecoins based in Solana.
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However, Grayscale’s analysis indicates that even with reduced rates, the application layer activity continues to generate between $ 5 billion and $ 10 billion annually, indicating a sustained participation of the user and a healthy ecosystem. These trends suggest that the market is maturing, with real use that begins to anchor the valuations instead of a mere speculative enthusiasm.
GRAYSCALAL Top 20 Digital Assets Surveillance List: Avax and Morpho Enter
Each quarter, Grayscale updates its TOP 20 DIGITAL ASSETS SURVEILLANCE LISTASwith the objective of highlighting projects that demonstrate strong foundations, adoption and growth potential. This quarter, only two new tokens have made the cut:
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Avalanche (Avax): Recognized for its scalable intelligent contract platform, Avalanche has witnessed a notable increase in transactions and user participation, partly promoted by new associations in the Games sector, including integration with the MaplesTory ecosystem. The organic growth of Avax and the low transaction rates place it as a formidable player in the block chain race of Layer 1.
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Morpho (Morpho): A decentralized loan protocol based on Ethereum and Base, Morpho now manages more than $ 4 billion in total blocked value (TVL), which makes it the second largest loan platform in decentralized finances (Defi). The launch of Morpho V2 further consolidates its ambition, pointing to integration with traditional financial institutions to expand deficient to regulated markets.
Why were Ldo and OP?
Interestingly, Lido Dao (LDO) and optimism (op), two fundamental projects for the Ethereum ecosystem, were eliminated from the top 20 of the gray scale in this quarter. Grayscale attributes this decision to tactical realignment instead of the lack of long -term potential:
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Dao Lido (Ldo) It faces possible winds against the new regulations of the USA. UU. They can favor centralized rethinking options through ETF or custody services, which can challenge its decentralized model of liquid bet.
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Optimism (op)Despite promoting the main layer 2 networks such as the Coinbase base and the new UNISWAP chain, it has not demonstrated short -term price impulse, which leads to the gray scale to focus on assets with stronger catalysts in the short term.
Grayscale argues that both projects remain strategically important for the future of the Ethereum ecosystem, but opted for the assets that are better align with the short -term impulse.
High potential, high risk: the caution of the gray scale
The gray scale reaffirms that all assets in its top 20 watchlist carry High risk profiles and high volatility. Factors such as vulnerabilities of intelligent contracts, regulatory developments and macroeconomic uncertainties continue to raise challenges for investors. However, the report also highlights that innovation is thriving in defense, AI and intelligent contracts, offering a long -term potential for investors with greater risk tolerance.
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| Source: Gray Scale |
What is feeding the optimism Q3?
Several macro and theme trends are converging as the third quarter 2025 develops:
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Bitcoin as a safe refuge: As inflation persists and traditional markets face continuous volatility, investors are gravitating Bitcoin as a value reserve, reinforcing their narrative as digital gold.
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Legitimization of the AI sector: The formal recognition of AI as a cryptographic sector is riding the wave of technological enthusiasm and practical adoption, with projects such as bittensor that lead the burden on the construction of decentralized infrastructure.
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DEFI REVIVAL: Platforms such as Morpho are re -enforcing attention in Defi, offering efficient and customizable loan solutions in the chain that resonate with institutions that seek transparency and performance in a volatile macro environment.
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Growth of the smart contract platform: Block chains such as Avalanche are witnessing increases in organic transactions driven by the activity of games and stable, emphasizing their relevance beyond speculative cycles.
A market ready for selective growth
Grayscale’s third quarter update positions the crypto market Selective expansion instead of wide base exuberance. The report indicates that although the speculative sectors cool, projects with clear utility, community traction and strong foundations are finding impulse.
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| Source: Gray Scale |
For investors looking for opportunities in a complex macro environment, monitoring of growth at the sector can provide strategic advantage. From the Bitcoin coverage narrative to the appearance of AI as a cryptographic sector and the continuous development of scalable defi platforms, Grayscale’s ideas underline the various opportunities available for those prepared to navigate the volatility of the cryptogram.
As the cryptographic market enters Q3, the evolutionary landscape requires careful consideration, tactical allocation and the will to align with structural trends instead of persecuting fleeting exaggeration.
Writer
@Ellena
Ellena is an experienced cryptographic writer who loves to explore the intersection of blockchain technology and financial markets. She regularly provides information about the latest trends and innovations in the currency space.
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