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    Home » Grayscale Removes Polygon from Its Cryptocurrency Funds
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    Grayscale Removes Polygon from Its Cryptocurrency Funds

    By adminJul. 7, 2024No Comments1 Min Read
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    Grayscale Removes Polygon from Its Cryptocurrency Funds
    Grayscale Removes Polygon from Its Cryptocurrency Funds
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    Grayscale Investments updated its key fund allocations following its analysis of Q2 2024 performance.

    Polygon (MATIC) has been removed from the Grayscale Smart Contract Platform Ex-Ethereum Fund (GSCPxE Fund). The new fund composition is Solana (65.80%), Cardano (14.67%), Avalanche (10.70%), and Polkadot (8.83%).

    In the Grayscale Digital Large Cap (GDLC) Fund, the allocations are now Bitcoin (70.46%), Ethereum (23.51%), Solana (3.86%), XRP (1.54%), and Avalanche (0.63%).

    Grayscale’s DeFi Fund (DEFG) now holds Uniswap (53.75%), MakerDAO (17.94%), Compound (12.68%), AAVE (10.58%), and Synthetix (5.05%).

    Polygon (MATIC) has seen a 31% decrease in price over the past month. Despite a recent recovery of 7%, trading volume has dropped by 38%. Its market position has been declining since last year, reaching a two-year low.

    Read more:

    FTX’s $16B payment and its impact on Bitcoin and Solana prices

    Grayscale’s rebalancing decisions highlight adjustments within the cryptocurrency market to cope with regulatory changes and market performance.

    These changes reflect broader industry trends, where adaptability and strategic shifts are crucial for sustaining growth and stability amidst the rapidly evolving digital asset landscape.

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