Key Takeaways

• Grayscale Research believes several DeFi-focused cryptocurrencies are trading below their intrinsic value.

• For the researcher, Aave (AAVE), Uniswap (UNI), and Hyperliquid (HYPE) stand out as some of the most attractive opportunities in 2026.

• The asset manager argues that many crypto assets can now be analyzed using conventional financial tools.

As crypto markets continue to recover from a difficult start to 2026, Grayscale Research believes investors may be overlooking some of the sector’s most fundamentally attractive opportunities.

In a new report examining how traditional valuation frameworks can be applied to digital assets, the asset manager highlighted several decentralized finance (DeFi)…