XRP News Today: Grayscale Shifts Focus to On-Chain Activity Excludes XRP, ADA, BNB Adds Avalanche, Morpho

Grayscale has announced a significant shake-up in its selection of the top 20 cryptocurrencies for the third quarter of 2025, shifting its focus from market capitalization to real on-chain activity. This new approach has led to the exclusion of prominent cryptocurrencies such as XRP, ADA, and BNB, while Avalanche and Morpho have been added to the list.

The decision to prioritize on-chain fundamentals, including adoption, transaction fees, volume, and sustainability, has resulted in a more dynamic and performance-driven ranking. Avalanche has been included due to the rapid growth of its blockchain ecosystem, particularly in Web3 games like MapleStory and the increasing use of stablecoins. This surge in activity suggests long-term organic growth potential for Avalanche.

Morpho, on the other hand, has shown even more impressive performance. With a total value locked (TVL) exceeding 4 billion dollars and nearly 100 million dollars in annual revenue, Morpho is poised to capture a significant share of the on-chain lending market, competing with established players like Aave and Maple Finance.

The exclusion of XRP, ADA, and BNB from the top 20 list has raised eyebrows in the crypto community. Despite their high market capitalization, these cryptocurrencies have shown a lack of traction in recent times. XRP, for instance, has stagnated despite Ripple’s partnerships and remains 45% below its all-time high. Network activity for XRP has reportedly dropped by 70%, further justifying its exclusion. Similarly, ADA has seen a 35% decline this year, despite its ambitions to integrate Bitcoin into its DeFi ecosystem. These performance drops have called into question their place in high-conviction portfolios.

Grayscale's new approach signals a shift in the crypto market, where real on-chain performance is becoming the primary metric for evaluating high-potential projects. This strategy could set a precedent for other investors and institutions, emphasizing the importance of actual adoption and usage over mere market capitalization.