This article is sourced from a piece by Prem Reginald, organized, compiled, and written. (Background: SAND surged 100% in two days, is the old public chain collectively awakening, and does the altcoin season signal light up?) (Background Supplement: Complete Analysis: Sui vs. Aptos, who is the first public chain of MOVE?) Inspired by Trump's victory in the presidential election, the cryptocurrency market in 2024 shows a vertical growth trend. As a platform for decentralized applications (dApps) and smart contracts, the demand for L1 solutions has surged significantly, with various L1 blockchains competing fiercely for top positions. However, they face strong challenges from Layer 2 (L2) solutions, which aim to enhance transaction speeds at extremely low costs, thereby competing with mature blockchains like Ethereum. 1. Which Layer 1 Tokens performed the best? Among the best-performing Tokens, Mantra (OM) achieved unprecedented growth, surging 7,035.2%. This spike is partly attributed to Mantra's collaboration with the UAE-based digital bank Zand. Zand has tokenized real-world assets (RWA) by complying with the Dubai Virtual Assets Regulatory Authority (VARA) regulations. Moreover, the demand for RWA products continues to grow, with traditional financial institutions increasingly introducing money market funds and bonds onto the blockchain. 2. Other outstanding performing Tokens AIOZ Network (AIOZ) is another standout performer, growing 427.6% year-to-date (YTD). The platform's decentralized content distribution network has seen increasing adoption driven by ongoing ecosystem optimization. The top three also include Sui (SUI), with a YTD growth of 388.2%, benefiting from rapid development within its ecosystem, including the launch of innovative dApps leveraging its high scalability and developer-friendly features. Other noteworthy performers include: Bellscoin (BELLS): growth of 252.2% Zano (ZANO): growth of 159% Toncoin (TON): growth of 136.2%, successfully hosting dApps and launching the 'click-to-earn' game through integration with Telegram. 3. The top ten Layer 1 Tokens by market capitalization saw more moderate increases Although mid- and small-cap Layer 1 Tokens performed astonishingly, larger market cap Tokens like Bitcoin, Ethereum, and Solana remain solid investment choices. Bitcoin (BTC) recorded an annual growth of 112.9%. Ethereum (ETH) grew by 34.9%, but underperformed compared to similar Tokens. With the rise of new Layer 2 and other blockchains, Ethereum's dominance has declined year by year, despite the U.S. launching a spot Ethereum ETF. However, Ethereum still outperformed the S&P 500 index, which rose 24.8% in 2024. Solana (SOL): Rising from the ashes Solana (SOL) has risen from the shadow of the 2022 FTX bankruptcy, growing 134.3% year-to-date. Most of its gains occurred in 2023, where, driven by the memecoin frenzy, its price soared from $15 to $120. This trend has also extended to other blockchains, such as Tron Network (TRX), which grew 85.5% this year. Meanwhile, Toncoin (TON) recorded an impressive 136.2% growth, primarily due to its capability of hosting dApps on the popular messaging app Telegram. The 'click-to-earn' game model has become extremely popular on Telegram, further driving its growth. Sui: The most eye-catching Sui shone the brightest this year, with a growth of 338.2%. This increase is mainly attributed to increased investor interest, growth in on-chain activity, and enhanced utility through significant dApp scalability. Moreover, Circle's USDC has been integrated into the network, while a trend of funds shifting from Ethereum to Sui has been observed. 4. The largest declines On the other hand, some Tokens have seen declines of up to -96% year-to-date. Entangle (NGL) performed the worst, falling -95.3% YTD. It was followed by Kujira (KUJI) and Trias Lab (TRIAS), which fell -86.7% and -83.4%, respectively. NGL launched in March 2024 at a high valuation, after which its price continued to decline. Kujira's performance was affected by the team's high-risk leveraged liquidity positions, which backfired during market volatility. 5. How did Layer 1 Tokens launched in 2024 perform? Various Layer 1 cryptocurrencies launched in 2024 have shown mixed performance, reflecting the challenges of breaking through in a highly competitive market. Aleo (ALEO) launched in September and has fallen -58.1% since its issue. Saga (SAGA) launched in April, facing similar challenges, down -69.9% YTD. Omni Network (OMNI), also launched in April, is down -68.8%. Zeta Chain (ZETA) launched in February, has so far dropped -57.3%. Router Protocol (ROUTE) and other new projects’ performance Router Protocol (ROUTE) launched in July, with a price drop of 24.8%, while Ice Open Network (ICE) has seen a relatively minor decline of 34.5% since becoming active in January. Meanwhile, Kaia (KAIA), which entered the market by the end of October, achieved a slight positive growth of 5.2%. These performances reflect the volatility of new Layer 1 projects, as well as the importance of ongoing innovation and user adoption for achieving market recognition. 6. The top ten Layer 1 projects ranked by price performance Note: YTD is an abbreviation for Year-to-Date, meaning 'so far this year.' It is typically used to describe the performance of a certain metric (such as returns, price changes, or performance) within a time frame from the beginning of the year (usually January 1) to the current date. 7. Conclusion In 2024, the Layer 1 blockchain space shows diverse performance. Mantra leads with a staggering YTD increase of 7035%, thanks to its strategic partnerships and cutting-edge blockchain application cases. Meanwhile, established players like Bitcoin, Solana, and Toncoin performed steadily, proving their resilience in a fluctuating market.