Grayscale’s Portfolio Soars as Altcoins Like Stellar and XRP Drive Market Surge
Grayscale's cryptocurrency portfolio has seen a notable boost in November, driven by significant growth in altcoins like Stellar (XLM) and XRP.
The firm’s total holdings rose by more than 85% in market value, highlighting the strong performance of altcoins and supporting the growing expectation of an altcoin-driven market shift.
XLM was the standout performer, surging by an incredible 469% over the past month, followed by XRP with a 262% increase. Decentraland’s MANA also saw impressive growth, rising by over 105%. These gains suggest that altcoins are gaining momentum, aligning with predictions of an upcoming altcoin season.
READ MORE: XRP Reaches $100 Billion Market Cap with Major Price Surge
In addition to these market movements, Grayscale Investments has resumed private placements for its 19 trusts, offering eligible investors opportunities to buy into assets like XRP, Solana (SOL), Stellar (XLM), and others. The private placements now also include the Decentralized AI Fund, featuring tokens such as NEAR, Filecoin (FIL), and AAVE.
With Bitcoin dominance dipping below a critical support level in late November, many analysts view this as a sign that investors are shifting profits from Bitcoin into altcoins, further fueling the anticipation of an altcoin season.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
