This article originates from an article written by Prem Reginald and is organized, compiled and written. (Preliminary summary: SAND soared 100% in two days, the old public chains are collectively awakening, the signal light of the copycat season is on?) (Background supplement: Complete analysis: Sui vs. Aptos, who is the first public chain in the MOVE system?) Accepted Encouraged by Trump’s victory in the presidential election, the cryptocurrency market in 2024 is showing a vertical growth trend. As a platform for decentralized applications (dApps) and smart contracts, the demand for L1 solutions has increased significantly, and major L1 blockchains have launched fierce competition to compete for the top position. However, they face strong challenges from Layer 2 (L2) solutions that strive to increase transaction speeds at extremely low costs, thereby competing with established blockchains such as Ethereum. 1. Which Layer 1Tokens perform best? Among the top-performing tokens, Mantra (OM) has seen unprecedented growth, surging 7,035.2% in value. This surge is partly due to Mantra’s partnership with UAE-based digital bank Zand. Zand tokenizes real world assets (RWA) by complying with Dubai Virtual Asset Regulatory Authority (VARA) regulations. In addition, demand for RWA products continues to grow, and traditional financial institutions are also introducing currency funds and bonds to the blockchain. 2. Other Outstanding Performance Tokens AIOZ Network (AIOZ) is another outstanding performer, with year-to-date (YTD) growth of 427.6%. The platform’s decentralized content distribution network is seeing increasing adoption, driven by continued ecosystem optimization. Rounding out the top three is Sui (SUI), which grew 388.2% YTD, benefiting from rapid growth within its ecosystem, including innovative dApp launches that leverage its high scalability and developer-friendly nature. Other noteworthy performers include: Bellscoin (BELLS): up 252.2% Zano (ZANO): up 159% Toncoin (TON): up 136.2%, successfully hosting dApps through integration with Telegram and launching Click to Earn game. 3. The growth of the top ten Layer 1 Tokens by market capitalization is relatively moderate. Although the performance of Layer 1 Tokens with small and medium market capitalization is amazing, Tokens with larger market capitalization such as Bitcoin, Ethereum and Solana are still solid investment choices. Bitcoin (BTC) has achieved annual growth of 112.9%. Ethereum (ETH) grew 34.9% but underperformed similar tokens. With the rise of new Layer 2 and other blockchains, Ethereum’s dominance has declined year over year, despite the launch of a spot Ethereum ETF in the United States. However, Ethereum is still outperforming the S&P 500, which is up 24.8% in 2024. Solana (SOL): Rising from the Ashes Solana (SOL) rose from the shadow of FTX's bankruptcy in 2022 and is up 134.3% year to date. Most of its gains occurred in 2023, when the price surged from $15 to $120, driven by the memecoin craze. This trend has also extended to other blockchains, such as Tron Network (TRX), which has grown 85.5% this year. Meanwhile, Toncoin (TON) recorded a staggering 136.2% growth, driven largely by its ability to host dApps on popular social messaging app Telegram. The click-and-earn gaming model has become extremely popular on Telegram, further fueling its growth. Sui: The most eye-catching performance Sui has the most eye-catching performance this year, with a growth of 338.2%. This increase was primarily driven by increased investor interest, growing on-chain activity, and increased utility through a significant suite of dApp expansions. Additionally, Circle’s USDC has been integrated into the network, while a trend of funds moving from Ethereum to Sui has also been observed. 4. The Biggest Drop On the other hand, some Tokens have dropped as much as – 96% so far this year. Entangle (NGL) was the worst performer, down – 95.3% YTD. It was followed by Kujira (KUJI) and Trias Lab (TRIAS) with losses of – 86.7% and – 83.4% respectively. NGL was issued at a higher valuation in March 2024 and has continued to trend lower since then. Kujira's performance was hampered by the team's high-risk leveraged liquidity positions, strategies that backfired during periods of market volatility. 5. How will the Layer 1 Tokens issued in 2024 perform? The mixed performance of multiple Layer 1 cryptocurrencies launching in 2024 reflects the challenges of breaking out in a competitive market. Aleo (ALEO) launched in September and is down – 58.1% since launch. Saga (SAGA), which launched in April, has faced similar struggles and is down – 69 year to date.9%. Omni Network (OMNI), also launched in April, fell – 68.8%. Zeta Chain (ZETA) was launched in February and is down – 57.3% year to date. Performance of Router Protocol (ROUTE) and Other New Projects Router Protocol (ROUTE), which launched in July, is down 24.8% in price, while Ice Open Network (ICE) has seen a relatively smaller drop of 34.5% since becoming active in January. Meanwhile, Kaia (KAIA), which entered the market as late as late October, posted slightly positive growth of 5.2%. These performances reflect the volatility of new Layer 1 projects and the importance of continued innovation and user adoption to gain market acceptance. 6. Top ten Layer 1 projects ranked by price performance Note: YTD is the abbreviation of Year-to-Date, which means "this year to date". It is often used to describe the performance of a metric (such as earnings, change, or performance) over a period from the beginning of the year (usually January 1) to the current date. 7. Conclusion In 2024, the Layer 1 blockchain field will show diversified performance. Mantra leads the way with year-to-date (YTD) gains of 7,035%, thanks to its strategic partnerships and blockchain use cases on the front end. While established players such as Bitcoin, Solana and Toncoin have performed solidly, proving that they can...