Crypto Market Movers

Story: Grayscale Shakes Up Q3 Crypto List With AVAX In, XRP and ADA Out

By Julie Binoche

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XRP and Cardano Left Out Again. Despite their long-standing presence in the top tier of crypto market capitalization, XRP and…

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Avalanche and Morpho Join the Top 20. Taking the place of Lido DAO and Optimism are Avalanche and Morpho, both of which have recently…

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Market Impact: XRP and ADA Prices Tumble. News of the continued exclusion had a quick impact on the market.

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What's Included in Grayscale’s Q3 List?. The Q3 Top 20 list includes a mix of well-known and emerging crypto assets, showcasing Grayscale’s…

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Strategic Exclusions or Missed Opportunities?. Grayscale has not publicly disclosed detailed reasoning for excluding XRP and Cardano.

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Final Thoughts. Grayscale’s Q3 crypto list reflects more than just market performance—it’s a snapshot of where…

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Grayscale Investments has revealed its updated list of the Top 20 cryptocurrencies for Q3 2025, and the selections have stirred up conversation across the crypto community.

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This quarterly reshuffling reflects Grayscale’s dynamic evaluation strategy, focused on capturing emerging opportunities and adjusting to sector trends.

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Despite their long-standing presence in the top tier of crypto market capitalization, XRP and Cardano are once again missing from Grayscale’s Top 20 list.

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The timing of their exclusion is especially interesting given the backdrop of pending regulatory decisions.

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Grayscale’s choice to sideline XRP and ADA from its top picks ahead of this decision suggests a more conservative or strategic approach, possibly influenced by perceived…

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Avalanche (AVAX) continues to be a major player in the smart contract platform space. Grayscale’s inclusion of AVAX may reflect growing optimism around the Avalanche ecosystem,…

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Morpho, on the other hand, represents a relatively newer name in the decentralized finance (DeFi) space. Its inclusion is a signal of Grayscale’s forward-looking stance.

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Grayscale commented that Morpho is “well-positioned to capture meaningful market share” in on-chain lending, especially as institutional interest in DeFi continues to expand.

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News of the continued exclusion had a quick impact on the market. In the hours following Grayscale’s Q3 update, XRP fell by 4.8%, while Cardano dipped by 2.9%.

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