Grayscale revealed in an index that altcoins provided the best returns in the third quarter of 2025. Bitcoin’s underperformance became the quarter’s most defining characteristic, while BNB Chain, Prometheus, and Avalanche led the ranking for top risk-adjusted performers. The index was generally dominated by tokens used for financial applications and smart contract platforms. Thematic narratives centered on stablecoin adoption, exchange volume, and Digital Asset Treasuries (DATs) overwhelmingly drove this outperformance
source: https://beincrypto.com/grayscale-ranks-most-profitable-crypto-from-q3/