# The Surge of Layer 1 Blockchains in 2024: Mantra (OM) Leads the Charge with a Staggering 7,035% Growth
*By Timothy Morano | November 27, 2024*
The year 2024 has been nothing short of transformative for Layer 1 (L1) blockchains, with certain tokens experiencing mind-blowing price surges. Leading the pack is **Mantra (OM)**, which has achieved an astonishing **7,035% increase** in value, a trend that has caught the attention of both seasoned investors and newcomers to the crypto world. But what has fueled this growth, and how do other tokens compare? At Extreme Investor Network, we delve into the details to provide insights you won’t find elsewhere.
## What’s Driving the Market?
The cryptocurrency landscape has been notably influenced by political and regulatory changes. Following Donald Trump’s recent Presidential Election victory, there’s been a noticeable uptick in demand for Layer 1 solutions. These blockchains are essential, acting as the backbone for **decentralized applications (dApps)** and **smart contracts**. However, they are not without competition. Layer 2 solutions are gaining traction for their ability to deliver faster transactions at lower costs, which poses challenges to established giants like Ethereum.
## Spotlight on Top Performers
Apart from the jaw-dropping rise of Mantra, several other Layer 1 tokens are making waves:
– **AIOZ Network (AIOZ)**: Up **427.6%**, driven by the growing popularity of its decentralized content delivery network.
– **Sui (SUI)**: With a solid **388.2% increase**, Sui is capturing attention through innovative dApp launches that exploit its exceptional scalability.
Other noteworthy mentions include:
– **Bellscoin (BELLS)**: +252.2%
– **Zano (ZANO)**: +159%
– **Toncoin (TON)**: +136.2%, thanks to its strategic integration with Telegram, enabling dApp hosting and tap-to-earn games.
### A Comprehensive Look at Market Capitalizations
While emerging Layer 1 tokens are reaping the rewards of their innovations, established coins like **Bitcoin (BTC)** and **Ethereum (ETH)** continue to deliver robust returns. Bitcoin has experienced a **112.9%** YTD increase, while Ethereum rose by **34.9%**. Both cryptocurrencies have outperformed traditional investments, like the S&P 500, which rose just **24.8%** in 2024.
Not to be overlooked, **Solana (SOL)** rebounded by **134.3%**, successfully moving past its struggles following FTX’s collapse in 2022.
## The Dark Side of the Surge: Notable Declines
As is common in the crypto sector, gains come alongside volatility. Several Layer 1 projects have faced sharp declines:
– **Entangle (NGL)**: -95.3%
– **Kujira (KUJI)**: -86.7%
– **Trias Lab (TRIAS)**: -83.4%
These stark downturns serve as a reminder of the risks inherent in the blockchain ecosystem, especially for newer or less established projects.
## Navigating Newly Launched Layer 1 Coins
The year 2024 has also seen the launch of several new Layer 1 blockchains, each with varied performances.
– **Aleo (ALEO)**: -58.1%
– **Saga (SAGA)**: -69.9%
– Conversely, **Kaia (KAIA)**, launched in late October, has shown modest growth of **5.2%**.
These figures underscore the competitive atmosphere of blockchain technology, where innovative thinking and strategic partnerships are critical for survival and prosperity.
## Conclusion: The Road Ahead for Layer 1 Blockchains
The performance of Layer 1 blockchains in 2024 highlights a dynamic interplay between innovation, market sentiment, and regulatory factors. As we move forward, the tokens that focus on real-world applications, foster community engagement, and maintain technological resilience will be best positioned for sustainable growth.
At Extreme Investor Network, our mission is to keep you informed and empowered in the ever-evolving landscape of cryptocurrency. Stay tuned as we continue to provide in-depth analysis, expert insights, and exclusive updates to help you navigate these exciting developments.
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*Image Source: Shutterstock*
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