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Grayscale Points to Solana and Core Smart Contract Blockchains for On-Chain Assets

Grayscale research head Zach Pandl views Solana, Ethereum, and BNB Chain as undervalued infrastructure poised to support trillions of dollars in tokenized assets.

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Grayscale head of research Zach Pandl indicated that leading smart contract networks, including Solana, Ethereum, and BNB Chain, are being neglected by crypto-native traders pursuing alternative narratives. According to Pandl, these established networks are positioned to capture trillions of dollars from traditional finance moving on-chain, including stablecoins, tokenized bank deposits, and tokenized real-world assets.

Pandl also discussed the growing relevance of privacy tools and decentralized derivatives. He expects privacy features, such as those in Zcash, to integrate into smart contract ecosystems and stablecoins during the upcoming cycle. Meanwhile, he highlighted the expansion of perpetual futures contracts across institutional trading venues, referencing Grayscale's Hyperliquid ETF and regulatory developments at the CFTC.

In his broader market evaluation, Pandl stated that Grayscale identified a Bitcoin market bottom around $58,000 at the end of June. The subsequent price recovery occurred despite macroeconomic and regulatory hurdles, such as climbing bond yields, Federal Reserve interest rate hikes, and the legislative failure of the CLARITY Act.

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