The post Layer 1 Blockchain Tokens Surge in 2024: Mantra (OM) Leads with 7,035% Growth appeared on BitcoinEthereumNews.com.

Timothy Morano Nov 27, 2024 10:11 Layer 1 blockchains have seen explosive growth in 2024, with Mantra (OM) leading the charge, boasting a 7,035% increase. Explore the top performers and market dynamics. Layer 1 (L1) blockchains have witnessed remarkable growth in 2024, with some tokens experiencing unprecedented price increases. Among these, Mantra (OM) has emerged as a standout performer, boasting a 7,035% surge in value, according to CoinGecko. This extraordinary rise is partly due to Mantra’s strategic partnership with UAE-based digital bank Zand, facilitating the tokenization of real-world assets (RWAs) under Dubai’s Virtual Asset Regulatory Authority. Market Overview The cryptocurrency market in 2024 has been buoyed by Donald Trump’s Presidential Election victory, leading to increased demand for L1 solutions. These platforms provide essential infrastructure for decentralized applications (dApps) and smart contracts. However, L1 blockchains face stiff competition from Layer 2 solutions, which offer enhanced transaction speeds and reduced costs compared to established blockchains like Ethereum. Top Performing Layer 1 Coins Besides Mantra, AIOZ Network (AIOZ) and Sui (SUI) have also demonstrated significant gains, with YTD increases of 427.6% and 388.2%, respectively. AIOZ has benefited from the growing adoption of its decentralized content delivery network, while Sui has gained traction through innovative dApp launches that leverage its scalability. Other notable gainers include Bellscoin (BELLS) with a 252.2% increase, Zano (ZANO) with 159%, and Toncoin (TON) with 136.2%, the latter leveraging its integration with Telegram to host dApps and tap-to-earn games. Top Layer 1 Coins by Market Cap Despite the stellar performance of mid- and small-cap L1s, larger market cap coins such as Bitcoin (BTC) and Ethereum (ETH) have also shown positive returns. Bitcoin saw a 112.9% YTD increase, while Ethereum rose by 34.9%, outperforming the S&P 500 index, which increased by 24.8% in 2024. Solana (SOL) experienced a 134.3% rise, rebounding…

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Filed under: News - @ November 27, 2024 11:19 am