In 2024, the cryptocurrency market experienced a remarkable surge, largely due to Donald Trump’s victory in the Presidential Election. This led to an increased interest in Layer 1 blockchain solutions, which form the foundation for decentralized applications (dApps) and smart contracts. Unexpected Cryptos Rise to Prominence According to CoinGecko’s latest report, Mantra (OM) witnessed an astonishing 7,035.2% increase.
This growth can be attributed to its partnership with Zand, a UAE-based digital bank that allows compliant tokenization of real-world assets (RWAs) under Dubai’s VARA framework. Additionally, AIOZ Network (AIOZ) gained 427.6% YTD thanks to its expanding decentralized content delivery network and ongoing ecosystem improvements.
Sui (SUI) also performed well with a 388.2% YTD rise, driven by dApp launches maximizing scalability and developer-friendly tools. “Emerging from challenging times in the crypto space, Layer 1 blockchains have seen tokens skyrocket by more than 7000% since January.”
Bitcoin and Ethereum Continue to Dominate While mid- and small-cap Layer 1 tokens have experienced explosive growth, major players like Bitcoin and Ethereum have proven resilient investments.
Bitcoin showed a solid YTD increase of 112.9% while Ethereum gained 34.9%. Despite the introduction of the Ethereum Spot ETF in the US, Ethereum’s dominance has decreased over time due to competing blockchains like Solana, which rose strongly from FTX’s impact in 2022 by increasing by 134.3%. Toncoin (TON) also benefited from its integration with Telegram for hosting dApps and grew by an impressive 136.2%.
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<p>The post Crypto Surprises: Mantra, AIOZ & Sui Shine Amid L1 Dominance Race first appeared on CoinBuzzFeed.</p>
