2024 was optimistic for cryptocurrencies, but 2025 is crucial for projects to prove real innovation and capture capital and attention. Ethereum Classic continues to struggle with declining network activity, including daily active addresses, transactions, and transacted value. ETC's fixed supply and low transaction fees pose long-term mining incentive problems, making its future prospects discouraging.
I've been bullish on digital assets and crypto-proxy assets in 2024, with cautious exceptions for Grayscale funds trading at large premiums. My bearish stance on the Grayscale Solana Trust contrasts with my bullish view on the Grayscale Digital Large Cap Fund due to its discount to NAV. The Grayscale Ethereum Classic Trust also trades at a large discount to NAV, but I'm skeptical about buying it despite that discount.