Layer 1 (L1) tokens have seen exceptional price gains in 2024, with some reaching as much as 7,000%, according to a report from CoinGecko . The report singles out Mantra ($OM ), AIOZ Network (AIOZ), and Sui Network ($SUI ) as the best performing Layer 1 cryptocurrencies this year. Donald Trump’s victory in the US presidential election was cited as a major factor contributing to these price surges, the report added.
Mantra (OM) has emerged as the best performing L1 token in 2024, posting a staggering 7,035.2% year-to-date (YTD) gain. CoinGecko attributes this growth to Mantra’s partnership with Zand, a UAE-based digital bank that enables the tokenization of real-world assets (RWAs) in accordance with Dubai’s Virtual Assets Regulatory Authority (VARA) requirements. This partnership, coupled with growing institutional interest in RWAs, has attracted significant capital inflows into OM.
At the time of writing, OM is trading at $3.44, down 4.21% in the last 24 hours and 8.66% in the last week. The Relative Strength Index (RSI) is showing a reading of 63.88 for OM, meaning the cryptocurrency still has bullish potential, with the gradient of the line suggesting a slight correction before continuing the uptrend.
