Grayscale recently updated its list of Top 20 crypto assets for the third quarter of 2025. The new lineup features Avalanche (AVAX) and Morpho as fresh entrants. In contrast, Grayscale removed Optimism and Lido DAO from its selection. This shift showcases a research-focused approach prioritizing on-chain activity rather than mere popularity or market capitalization. Such changes might indicate a trend towards valuing asset functionality in the current cryptocurrency landscape.