As many as 10 of the 13 cryptocurrencies added to the list of interest are from the DeFi industry
On June 18, the well-known company Grayscale announced the expansion of its list of cryptocurrencies, which they are interested in and will monitor them more closely. Interestingly, most of this package consists of DeFi projects and concretely the following - Polygon (MATIC), Bancor (BNT), Curve (CRV), Loopring (LRC), Ren (REN), 1inch (1INCH), Universal Market Access (UMA), 0x (ZRX), Kava (KAVA) and Kyber Network (KNC). They are complemented by native tokens of high-speed scalable blockchain networks Dfinity, Solana and Near.
These are certainly not the only cryptocurrencies that Grayscale is examining in more detail and considering. After this last expansion, their number reached 31. The company currently offers products that monitor the performance of 13 different cryptocurrency assets.
Interest does not have to mean transforming into a real product
In March this year, Grayscale introduced 5 new trust products that monitor the performance of these cryptocurrencies -, Filecoin, Chainlink, Decentraland, Livepeer and the Basic Attention Token. Together, these trusts represent only 0.1% of the total $ 34.4 billion, they report.
However, they add to the new report that the inclusion of a project on the list of interests does not mean that they will certainly present a product for a given cryptocurrency in the future. A good example is the cryptocurrencies EOS, Tezos and Cardano, which were on this list in the past, but the real product was not created.
The DeFi industry is gaining momentum
DeFi is often at the center of discussions about cryptocurrencies and their future direction. Well-known chains, such as Ethereum and Binance Smart Chain (BSC), which bring DeFi solutions directly to potential investors, are pushing it forward.
Grayscale CEO Michael Sonnenshein also commented on the topic:“We are to expand our product offerings to better serve our investors. The digital currency universe is constantly evolving and we seek to identify bold, interesting, and innovative opportunities that satisfy our investors.”
The company apparently sees a huge future in cryptocurrencies and is also increasingly interested in the DeFi industry. This has undergone a really dynamic development in recent years and its value is massively growing. Grayscale strives to provide its investors with easy and safe entry into this market. For any project, of course, it is a great success if they get on the mentioned list of Grayscale and even greater if the interest is subsequently transformed into a real trust product of this company.