Grayscale says BTC has not led quarterly returns among top 10 tokens in 2 years

As the crypto market matures, investing in individual assets and sectors beyond BTC is becoming more important, according to a Grayscale report. Grayscale said differences in returns across crypto sectors over the past three years were difficult to explain through BTC price moves alone, with Bitcoin’s influence accounting for only about half. Over the past two years, six different assets ranked first in quarterly returns among the top 10 cryptocurrencies by market capitalization excluding stablecoins, while BTC did not take the top spot in any quarter. Grayscale added that weakening correlations across sectors are widening return gaps based on each project’s business model, adoption level, and tokenomics structure.