The world’s largest Bitcoin (BTC) and cryptocurrency asset manager, Grayscale, can be configured to move into a decentralized economic space after many new organizations’ applications have been submitted to the Delaware Business Register.
New foundations for Aave (AAVE), Polkadot (DOT) and Cosmos (ATOM) were introduced on January 27. On the same day, Grayscale also registered foundations for Cardano (ADA) as well as Monero Confidential Coin (XMR).
Since then, Grayscale has said the archives do not indicate a specific product launch for the said five currencies, but only that the company is laying the groundwork for potential future launches.
“From time to time we will submit a request for reservations, even if this does not mean that we are putting the product on the market,” the company told industry media.
Grayscale’s decision to broaden the horizon of the cryptocurrency may be a result of the price changes of the five currencies involved over the past year. In the fourth quarter of last year, Aave achieved 483% growth and rose to 15th place by market value. The project pioneered the DeFi phase in 2020, which focused on lending and loans as well as express loans.
Cosmos saw similar gains of 489% as the value of the ATOM coin rose from the $ 1.50 range to over $ 9. The project is now in the 25th position by market cap.
Meanwhile, Polkadot has registered 537% growth since its launch in August at the time of writing. The project, which describes itself as a decentralized, interoperable and multi-chain protocol, aims to provide a blockchain infrastructure and aims to compete with Ethereum as the home for blockchain developers.
While Monero is not among the graduates in 2020, it has also grown 467% over the calendar year, while Cardano has benefited from the launch of the much-anticipated Shelley mainnet, gaining 187% since then.
Grayscale’s assets under management increased through 2020, bringing assets under management to more than $ 25 billion, according to the most recent figures released by the company.