Top 20 Promising Cryptocurrencies for Q4 2024, according to Grayscale
Each quarter, the Grayscale Research team analyzes hundreds of digital assets to evaluate rebalancing the company's funds and compiles a list of the top 20 assets from various sectors of the crypto market.
This top 20 list represents a set of assets that the company estimates have high potential in the upcoming quarter. The analysts' approach considers a wide range of factors, including network growth and adoption, upcoming catalysts, resilience of fundamental indicators, token valuation, supply inflation, and potential risks.
Since 2013, Grayscale has launched private funds that allow accredited investors to trade cryptocurrencies in the form of shares of these funds. The largest of these are the Grayscale Bitcoin Trust (GBTC) and the Grayscale Ethereum Trust (ETHE). In 2024, both of these funds were converted into fully-fledged exchange-traded products (spot ETFs).
Each quarter, the Grayscale Research team analyzes hundreds of digital assets to evaluate rebalancing the company's funds and compiles a list of the top 20 assets from various sectors of the crypto market.
This top 20 list represents a set of assets that the company estimates have high potential in the upcoming quarter. The analysts' approach considers a wide range of factors, including network growth and adoption, upcoming catalysts, resilience of fundamental indicators, token valuation, supply inflation, and potential risks.
Since 2013, Grayscale has launched private funds that allow accredited investors to trade cryptocurrencies in the form of shares of these funds. The largest of these are the Grayscale Bitcoin Trust (GBTC) and the Grayscale Ethereum Trust (ETHE). In 2024, both of these funds were converted into fully-fledged exchange-traded products (spot ETFs).
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Bitget exchange will connect Telegram apps to a broader Web3 ecosystem. The Bitget Wallet team stated in a press release that this new integration opens Telegram to a larger Web3 space.
Cointelegraph
Bitget to connect Telegram Mini Apps to broader Web3 with new dev kit
Bitget Wallet said in a press release that it would soon reveal other initiatives to empower Telegram Mini Apps.
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Monday, September 30, Bitcoin is trading around $64.1 thousand, with its price rising approximately 4.4% over the week.
Last week, the cryptocurrency market was mostly positive, especially with the rise in altcoins, according to experts interviewed, who are forecasting changes in Bitcoin's price for the coming week.
The key factor was the outcome of the September meeting of the U.S. Federal Reserve, where it was decided to cut the key rate by 50 basis points. This contributed to a weaker U.S. dollar and increased risk appetite among investors.
The situation contrasts with the typical September trend of price declines. The market landscape has changed: Bitcoin is now correlating with assets in traditional markets and with U.S. Federal Reserve monetary policy.
The historically challenging third quarter for the cryptocurrency market is ending, and the historically favorable fourth quarter is beginning. In past years, the crypto market has shown active bullish trends during October-November.
In the upcoming week, investor attention will focus on the speech of Federal Reserve Chair Jerome Powell on Monday, as well as on the release of several important economic indicators, including U.S. labor market data and the ISM business activity index. Analysts expect positive momentum in the crypto market, but they note that if the market fails to grow actively by the end of the week, correction risks will increase following the data releases.
Last week, the cryptocurrency market was mostly positive, especially with the rise in altcoins, according to experts interviewed, who are forecasting changes in Bitcoin's price for the coming week.
The key factor was the outcome of the September meeting of the U.S. Federal Reserve, where it was decided to cut the key rate by 50 basis points. This contributed to a weaker U.S. dollar and increased risk appetite among investors.
The situation contrasts with the typical September trend of price declines. The market landscape has changed: Bitcoin is now correlating with assets in traditional markets and with U.S. Federal Reserve monetary policy.
The historically challenging third quarter for the cryptocurrency market is ending, and the historically favorable fourth quarter is beginning. In past years, the crypto market has shown active bullish trends during October-November.
In the upcoming week, investor attention will focus on the speech of Federal Reserve Chair Jerome Powell on Monday, as well as on the release of several important economic indicators, including U.S. labor market data and the ISM business activity index. Analysts expect positive momentum in the crypto market, but they note that if the market fails to grow actively by the end of the week, correction risks will increase following the data releases.
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A user who bought 21,636 ETH at a price of $6.9 in 2016 has sold the last of their coins today at an average price of $2,668, making a profit of $58,000,000.
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FTX's reorganization plan was supported by 94% of voting creditors.
The Block
FTX's reorganization plan gains support from over 94% of Dotcom voting creditors
About 94.48% of creditors in the "dotcom customer entitlement claims" class who returned ballots voted in favor of the reorganization plan.
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Circle, the issuer of the USDC stablecoin, has partnered with the Australian company MHC Digital Group to promote USDC among Australian institutional investors.
Australian Financial Review
Mark Carnegie pushes Circle’s USD Coin to Australia’s super funds
MHC Digital says USDC, which has a market cap of $50 billion, could be used by big institutional investors to bypass banks and save hundreds of millions of dollars.
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How the Lido Crypto Service Works and Why Staking Attracts Major Investors
▪️Lido is the largest DeFi application in the cryptocurrency market and also the largest in terms of total value locked (TVL) among projects in the liquid staking sector — over $24 billion.
▪️The principle of Lido's operation is that the platform allows users to earn passive income from staking, providing them with a liquid asset that can be used for any purpose — transferred, exchanged for other assets, or used as collateral for loans. For example, for Ethereum, this derivative token is stETH.
▪️Despite not having a direct channel to traditional financial markets, 25% of the capital on the Lido platform comes from institutional investors, as reported by the service's representatives.
▪️To scale the platform for the institutional market, Lido is considering adding additional features, including creating separate pools with required checks like KYC/AML.
An example of new use cases for stETH is Lido's recent partnership with Fireblocks, a provider of enterprise blockchain solutions. Lido considers focusing on serving institutional rather than individual investors as one of its key priorities for the near future.
▪️Lido is the largest DeFi application in the cryptocurrency market and also the largest in terms of total value locked (TVL) among projects in the liquid staking sector — over $24 billion.
▪️The principle of Lido's operation is that the platform allows users to earn passive income from staking, providing them with a liquid asset that can be used for any purpose — transferred, exchanged for other assets, or used as collateral for loans. For example, for Ethereum, this derivative token is stETH.
▪️Despite not having a direct channel to traditional financial markets, 25% of the capital on the Lido platform comes from institutional investors, as reported by the service's representatives.
▪️To scale the platform for the institutional market, Lido is considering adding additional features, including creating separate pools with required checks like KYC/AML.
An example of new use cases for stETH is Lido's recent partnership with Fireblocks, a provider of enterprise blockchain solutions. Lido considers focusing on serving institutional rather than individual investors as one of its key priorities for the near future.
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Cointelegraph
Lamborghini brings cars to Web3 games with Animoca, Motorverse partnership
Lamborghini and Animoca Brands launch “Fast ForWorld,” a Web3 platform bringing luxury cars to blockchain games.
Lamborghini announced a Web3 platform called "Fast ForWorld," which will allow its cars to be used in blockchain games
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Standard Chartered: Bitcoin Falling Below $60,000 Will Be a Buying Opportunity
▪️Standard Chartered Bank expects that geopolitical risks could push Bitcoin below $60,000 by the end of this week, creating a buying opportunity with an eye on growth after the U.S. elections.
▪️"An interesting cycle is developing for Bitcoin. Geopolitical concerns may push prices down, but these same concerns seem to increase Trump's chances, potentially improving Bitcoin's prospects after the election," the bank's experts write.
▪️Analysts emphasized that Bitcoin is not a "safe haven" against geopolitical tension. According to them, gold is the geopolitical hedge, while Bitcoin is a hedge against traditional financial problems, such as bank failures, de-dollarization, and U.S. Treasury issues.
▪️In recent publications, experts from the British bank wrote that Bitcoin would reach a new high by the end of the current year, regardless of the U.S. election results. They estimate that if Donald Trump wins, its price could rise to $125,000, while in the case of Kamala Harris's victory, it could reach $75,000.
▪️In their view, U.S. ruling party policies toward cryptocurrencies do influence the rate, but to a lesser extent than assessed by market participants. There are other, more significant positive drivers for the cryptocurrency's price.
▪️Standard Chartered Bank expects that geopolitical risks could push Bitcoin below $60,000 by the end of this week, creating a buying opportunity with an eye on growth after the U.S. elections.
▪️"An interesting cycle is developing for Bitcoin. Geopolitical concerns may push prices down, but these same concerns seem to increase Trump's chances, potentially improving Bitcoin's prospects after the election," the bank's experts write.
▪️Analysts emphasized that Bitcoin is not a "safe haven" against geopolitical tension. According to them, gold is the geopolitical hedge, while Bitcoin is a hedge against traditional financial problems, such as bank failures, de-dollarization, and U.S. Treasury issues.
▪️In recent publications, experts from the British bank wrote that Bitcoin would reach a new high by the end of the current year, regardless of the U.S. election results. They estimate that if Donald Trump wins, its price could rise to $125,000, while in the case of Kamala Harris's victory, it could reach $75,000.
▪️In their view, U.S. ruling party policies toward cryptocurrencies do influence the rate, but to a lesser extent than assessed by market participants. There are other, more significant positive drivers for the cryptocurrency's price.
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Coindesk
Grayscale Rolls Out Aave Fund
Aave is a decentralized lending platform based on the Ethereum blockchain that offers automated loans of cryptocurrency using other tokens you own as collateral. It also lets users lend out their crypto to earn interest.
Grayscale launches a fund for the AAVE token
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Sonic Labs (formerly Fantom) announced that they are developing a "deflationary" airdrop: an innovative approach to token distribution
Sonic Insights
Designing a Deflationary Airdrop: Sonic's Innovative Approach to Token Distribution
Sonic's deflationary airdrop incentivizes long-term holding with a burn mechanism, reducing token supply while boosting the potential value of S.
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On October 7, Bitcoin is trading around $63,500, with its price down about 1% over the week.
▪️Market sentiment shows that investors are currently inclined to see the positive in everything, according to surveyed experts, who predict Bitcoin's price movement next week.
▪️Strong employment data is perceived as a sign of no recession, while weak data is seen as a signal for the Fed to lower rates.
▪️Bitcoin is increasingly behaving like a traditional risk asset, following the stock market rather than gold, with which it is often compared.
▪️Key events for the market next week include the publication of the FOMC meeting minutes on October 9 and consumer inflation data on October 10. Analysts believe that the period of volatility for the crypto market will continue.
▪️Market sentiment shows that investors are currently inclined to see the positive in everything, according to surveyed experts, who predict Bitcoin's price movement next week.
▪️Strong employment data is perceived as a sign of no recession, while weak data is seen as a signal for the Fed to lower rates.
▪️Bitcoin is increasingly behaving like a traditional risk asset, following the stock market rather than gold, with which it is often compared.
▪️Key events for the market next week include the publication of the FOMC meeting minutes on October 9 and consumer inflation data on October 10. Analysts believe that the period of volatility for the crypto market will continue.
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Cointelegraph
UAE exempts crypto transfers, conversion from value-added tax
Auditing firm PwC advised virtual asset businesses to pay attention to their input tax recovery following the regulatory updates on VAT.
UAE abolishes VAT on crypto exchanges and transfers.
The exemption will be applied retrospectively from January 1, 2018, and companies dealing with virtual assets can apply for VAT refunds.
The UAE positions itself as one of the most crypto-friendly jurisdictions for transactions.
The exemption will be applied retrospectively from January 1, 2018, and companies dealing with virtual assets can apply for VAT refunds.
The UAE positions itself as one of the most crypto-friendly jurisdictions for transactions.
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