Key Takeaways
- • Grayscale's head of research, Zach Pandl, warns investors may be distracted by newer crypto assets such as Zcash and Hyperliquid and overlook established smart contract platforms including Ethereum, Solana, and BNB Chain.
- • Grayscale argues these networks are central to a future wave of tokenization involving stablecoins, tokenized deposits, and securities, which could represent trillions of dollars in on-chain assets.
- • Despite recent higher returns from newer projects, Grayscale believes long-term value and institutional adoption will favor the established networks.
- • Investors should monitor growth in tokenized asset activity and institutional product launches on these platforms.
- • On Pluang, as of October 14, 2026, Ethereum traded at Rp43,565,851 (down 3.19% on the day), Solana at Rp1,862,882 (down 2.95%), and Zcash at Rp20,553,612 (down 3.56%).
Summary
Grayscale's head of research, Zach Pandl, cautions that investor attention is being pulled toward newer crypto assets, including Zcash and Hyperliquid, at the expense of established smart contract platforms such as Ethereum, Solana, and BNB Chain, according to the Pluang report. Grayscale's view is that these networks will play a central role in a coming wave of tokenization covering stablecoins, tokenized deposits, and securities, activity that could represent trillions of dollars in on-chain assets.
The research acknowledges that newer projects have recently delivered higher returns. Grayscale nonetheless believes long-term value and institutional adoption will favor the established networks. Investors are advised to watch for growth in tokenized asset activity and for institutional product launches built on these platforms.
Market data cited by Pluang as of October 14, 2026 at 23:03 WIB shows Ethereum at Rp43,565,851, down 3.19% over one day; Solana at Rp1,862,882, down 2.95%; and Zcash at Rp20,553,612, down 3.56%. The same-day moves reflect broader weakness in the sector, with separate reports on that date describing Ether liquidations of roughly $10 million to $20 million on major exchanges, including Binance, Bybit, and OKX.
Grayscale's broader research program has also addressed tokenization and the institutional outlook for these networks. Its published work describes Ethereum and Solana as competing with Canton to become the dominant platform for tokenized capital markets, and suggests both networks could reduce annual token issuance, potentially making ETH and SOL scarcer assets.
The research acknowledges that newer projects have recently delivered higher returns. Grayscale nonetheless believes long-term value and institutional adoption will favor the established networks. Investors are advised to watch for growth in tokenized asset activity and for institutional product launches built on these platforms.
Market data cited by Pluang as of October 14, 2026 at 23:03 WIB shows Ethereum at Rp43,565,851, down 3.19% over one day; Solana at Rp1,862,882, down 2.95%; and Zcash at Rp20,553,612, down 3.56%. The same-day moves reflect broader weakness in the sector, with separate reports on that date describing Ether liquidations of roughly $10 million to $20 million on major exchanges, including Binance, Bybit, and OKX.
Grayscale's broader research program has also addressed tokenization and the institutional outlook for these networks. Its published work describes Ethereum and Solana as competing with Canton to become the dominant platform for tokenized capital markets, and suggests both networks could reduce annual token issuance, potentially making ETH and SOL scarcer assets.
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