Grayscale, the world’s largest cryptocurrency manager, has added 25 coins to the list of assets it is considering adding to its investment products, including VeChain (VET), Iota and Monero (XMR) and Axie Infinity (AXS).

Other assets under consideration are Algorand (ALGO), Arweave (AR), Bancor (BNT), BitTorrent (BTT), Bora, Convex (CVX), Cosmos (ATOM), Decred (DCR), Elrond (EGLD), and Enjin (ENJ). )) ). )). ), Phantom (FTM), Gala, Gelato (GEL), Helium (HNT), Holo (HOT), Oasis Network (ROSE), Secret (SCRT), Spell Token (SPELL), Stacks (STX), The Sandbox (SAND) )) ). )), Universal Market Access (UMA), and Yield Guild Games (YGG).

In addition to the 25 coins added to the respective assets, Grayscale also announced in a Monday website update that it has added Amp to the Grayscale DeFi Fund.

Grayscale’s current portfolio of 15 crypto investment products has a total asset value of $55 billion (AUM). The Grayscale Bitcoin Trust and Grayscale Ethereum Trust account for $31.2 billion in AUM assets.

According to data from the Grayscale website, the Grayscale DeFi Fund currently has $7 million in assets and is down 35.8% since its inception in July 2021.

According to CoinGecko, many of the coins reviewed are currently among the top 100 coins by market value.

VET was originally launched as an ERC-20 token on the Ethereum network in 2015 but has since become the original token on the VeChainThor blockchain network. The token and network are used by real industries for tracking and supply chain management.

Iota is the original token for Iota’s distributed ledger, which helps devices connect to the Internet of Things. The project was established at the end of 2015.

AXS is the control code for the earnings-based game Axie Infinity, which was a huge hit last year. It traded for $0.97 on January 26, 2021 with a market capitalization of $48 million and is now trading for $51.90 with a market capitalization of $3.6 billion.

While these three tokens are well known and have gained a large following, the same does not necessarily apply to the tokens that Coinbase has just added.

Coinbase, the world’s third largest cryptocurrency exchange, with a daily trading volume of nearly $4 billion, listed four relatively unknown coins on Wednesday. Four currencies: Cryptex (CTX), DIA, Maple (MPL), and Unifi Procol DAO (UNFI). None of these coins are currently in the top 500 by market cap, but by listing them, Coinbase is fulfilling its promise to “make more coins and tokens available in 2022,” according to a tweet Tuesday.

The Cryptex team spoke to Cointelegraph about their goals ahead of Coinbase’s listing. In response to a question about how a small crypto venture would benefit from such a list, co-founder and CEO Joe Steko said:

“This allows us to remain flexible and socially oriented, while at the same time being able to reach all parts of the world.”
Cryptex is a decentralized autonomous organization (DAO) that operates the TCAP Index, which tracks the total value of the cryptocurrency market. The CTX is up 10.7% in the last 24 hours and is trading at $10.79.

Related: New Study Awaits Blooming Year for Bitcoin as DeFi and DAO Rise

Stickco also discussed what it would take for a small project to get to the point where Grayscale is an investment product. He said:

“I think at the end of the day it’s not about where we all start…it’s about starting small and working on incredibly complex problems to make the finances of the future as affordable as possible.”

Source: CoinTelegraph

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