Grayscale deletes sushiswap and synthetix from the defi fund, since the interest subsides

• both sushi and Snx have not met the minimum requirements for market capitalization for the Grayscale Defi Fund.
• Grayscale has added three new cryptos - polkadot, avalanche and atom - to his cryptofonds.

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The crypto-asset management giant Grayscale Sushiswap (sushi) and Synthetix (SNX) displaced from its defi fund sports folio as part of its quarterly new weighting. Grayscale dropped both sushi and snx because the two cryptocurrencies did not meet the qualification criteria of the minimum market capitalization.

Grayscale launched its fund for decentralized finances (Defi) in July 2021 after a strong rally on the defi market. The managed net assets are now more than $ 8 million. After removing sushiswap (sushi) and synthetix (SNX), the digital assets that are currently in the Defi-Fonds of Grayscale, Aave, Uniswap, Curnao, Makerdao, Yearn.Finance, AMP and Compound.

The latest fall shows that institutional demand for Sushi and Snx has decreased. In the future, this could possibly be reflected in the prices of these two cryptocurrencies.

In addition, Grayscale added three new digital assets-polkadot, avalanche and atom-to his crypto funds. Polkadot (Dot) and Avalanche (Avax) found a place in the Grayscale large cap fund. On the other hand, Cosmos (atom) found his way to the Smart Contract Platform Ex-ethereum Fund (GSCPXE Fund) from Grayscale.

Grayscale only launched the GSCPXE Fund last month in March 2022. His current stocks include some of the emerging cryptocurrencies such as Solana, Avax, Cardano (ADA), Polygon (Matic), Polkadot (Dot), Stellar (XLM), Algorand (Algo). and now cosmos (atom).

Grayscale is the world's leading crypto manager with a managed assets of $ 44 billion. The GrayScale Bitcoin Trust (GBTC) is solely the largest fund that contributes $ 30 billion in managed assets.

Current challenges of sushiswap

The decentralized sushiswap stock exchange has been facing a few internal challenges recently. In December 2021, the CTO of Sushiswap, Joseph Delong, resigned, citing internal chaos and power struggles. Delong said: "The chaos that occurs now will probably not lead to a solution that puts the DAO in the shade as much more than it used to be without a radical structural transformation".

In addition, the sushiswap community also proposed a legal structure for the decentralized autonomous organization sushidao to reduce future risks. The participants of the sushiswap dex voted to found a non -profit organization. The overarching goal is to create legal certainty and to reduce risks for developers and token owners.

At the time of printing, Sushiswap (sushi) is 9 % lower at a price of $ 3.63 and a market capitalization of $ 466 million. Sushi has lost almost two thirds of his value and 75 percent compared to last year since the beginning of 2022.

Synthetix (SNX) has also dropped by 6.5 percent at the time of printing and is currently traded at $ 5.71 with a market capitalization of USD 656 million. The SNX crypto has corrected over 50 percent in the last week and has been doing without profits since the beginning of the year.