Grayscale更新了其前20名列表，添加了三個新的加密項目，即Maple，Geodnet和Story協議。

SUI（SUI）因其快速交易和低費用而成為反對以太坊的有力競爭者。

Crypto asset management firm Grayscale has unveiled an update to its top 20 list of crypto projects for Q2 2025. The latest ranking introduces three new contenders—Maple (SYRUP), Geodnet (GEOD), and Story Protocol (IP)—while removing Akash, Arweave, and Jupiter from the lineup.

加密資產管理公司Grayscale宣布了其第2季度2025年的Crypto項目列表的更新。最新的排名介紹了三個新的競爭者-Amaple（Syrup），Geodnet（Geodnet（Geod）和故事協議（IP） - 刪除Akash，Arweave和Jupiter，從陣容中刪除Akash，Arweave和Jupiter。

The first quarter of 2025 saw a downturn in the cryptocurrency market, mirroring the decline observed in tech stocks and other high-risk assets, according to Grayscale Research.

根據Grayscale Research的數據，2025年第一季度的加密貨幣市場下降，反映了技術股票和其他高風險資產的下降。

Despite this, Web3 applications in the DeFi, AI, and infrastructure sectors collectively generated over $2 billion in revenue.

儘管如此，DEFI，AI和基礎設施領域的Web3應用程序統稱超過20億美元的收入。

Among the most promising smart contract platforms is Sui (SUI), which stands out for its rapid transactions and minimal fees without the need for extra scaling layers like Ethereum. However, Sui currently comprises only 3% of Grayscale’s Smart Contract Platforms index.

SUI（SUI）最有希望的智能合同平台之一，它因其快速交易和最少的費用而脫穎而出，而無需額外的擴展層，例如以太坊。但是，SUI目前僅佔Grayscale智能合同平台指數的3％。

For Q2 2025, Grayscale is highlighting three key areas: Decentralized Physical Infrastructure (DePIN), Real World Assets (RWA), and Intellectual Property Tokenization (IP). Some new projects are joining the firm’s Top 20 list.

對於第二季度2025年，灰度強調了三個關鍵領域：分散的物理基礎設施（DEPIN），現實世界資產（RWA）和知識產權令牌（IP）。一些新項目正在加入該公司的前20名列表。

New Additions to Grayscale’s Top 20 for Q2 2025

Grayscale Q2 2025的前20名的新增加

The latest update brings three fresh names to Grayscale’s watchlist:

最新更新為Grayscale的監視列錶帶來了三個新名稱：

Maple (SYRUP): A lending platform catering to institutional clients and boasting over $600 million in total value locked (TVL). It has generated $20 million in fees over the past month and is aiming to cross $2 billion in TVL by 2025.

Maple（糖漿）：一個為機構客戶提供迎合的貸款平台，並擁有超過6億美元的總價值鎖定（TVL）。在過去的一個月中，它已經產生了2000萬美元的費用，並打算到2025年超過20億美元的TVL。

Geodnet (GEOD): A decentralized infrastructure project that provides real-time, highly accurate positioning data. It now operates in 130+ countries with over 14,000 devices and has crossed $3 million in monthly fee revenue.

Geodnet（Geod）：一個分散的基礎架構項目，可提供實時，高度準確的定位數據。現在，它在130多個國家 /地區擁有14,000多個設備，已經超過300萬美元的月收費收入。

Story Protocol (IP): Focused on tokenizing the $70 trillion intellectual property market, this project is making headlines by bringing top artists, including Justin Bieber and BTS, to the blockchain.

故事協議（IP）：專注於使$ 70萬億美元的知識產權市場的實現，該項目通過將包括賈斯汀·比伯（Justin Bieber）和BTS在內的頂級藝術家帶到區塊鏈中，成為頭條新聞。

However, Grayscale cautions that these assets remain highly volatile and risky. GEOD, in particular, lacks major exchange listings, rendering it an even riskier investment.

但是，格雷斯卡（Grayscale）警告說，這些資產仍然高度波動和風險。尤其是地球上的地理位置缺乏主要的交換清單，使其成為更風險的投資。

Three Assets Removed From Grayscale’s Top 20 List

從灰度的前20名列表中刪除了三個資產

Grayscale has removed three assets—Arweave (AR), Akash (AKT), and Jupiter (JUP)—from its Top 20 list due to their performance. Despite this, the firm will continue monitoring their potential.

Grayscale刪除了三個資產（AR），Akash（AKT）和Jupiter（JUP），由於其性能而從其前20個列表中刪除。儘管如此，該公司仍將繼續監視其潛力。

Moreover, Grayscale observed a decline in overall market capitalization and a weakening of the Consumer & Culture sector, driven by the decline of memecoins and Solana’s ecosystem.

此外，格雷斯卡爾（Grayscale）觀察到總體市值下降，消費者和文化部門的削弱，這是由於成員和索拉納（Solana）的生態系統的下降而驅動的。