• Layer 1 blockchain is of nice significance to the cryptocurrency trade.
• L1 validates and executes transactions with out help from one other community.
• Injective (INJ), Kaspa (KAS), Celestia (TIA), Sui (SUI), and sei (SEI) make up the highest 5 L1s.

A number of Layer 1 (L1) blockchain protocols have emerged as sturdy candidates for decentralized ecosystems, providing distinctive options and supporting a variety of blockchain functions. These L1s function independently, validating and executing transactions with out counting on different networks.

Whereas Ethereum stays the dominant drive, protocols reminiscent of Injective (INJ), Kaspa (KAS), Celestia (TIA), Sui (SUI), and sei (SEI) are additionally gaining vital traction. We element the efficiency of current native tokens, specializing in the elemental options of the recognized protocols.

Injection (India)

Injective is a DeFi-focused, interoperable L1 blockchain protocol with decentralized spot and derivatives change. It additionally helps prediction markets and lending protocols. Its native token, INJ, has a market capitalization of $2.37 billion.

In accordance with TradingView, INJ noticed an unbelievable value improve of roughly 750% from This autumn 2023 to Q1 2024, reaching an all-time excessive of $53. Though the worth has fallen again, it has risen 63.6% over the previous 5 weeks and is presently buying and selling at $24.14.

Kaspa (dregs)

Ranked twenty eighth amongst cryptocurrencies by market capitalization, Kaspa is a proof-of-work (PoW) cryptocurrency that implements the GHOSTDAG protocol. This implementation permits L1 options to permit coexistence of blocks created in parallel and order blocks in line with consensus. In accordance with TradingView knowledge, KAS has a market capitalization of $4 billion and is buying and selling at $0.16 on the time of writing.

KAS has proven a principally bullish trajectory since 2023. The L1 token has appreciated over 5,000% for the reason that starting of 2023, reaching an all-time excessive of $0.208 in July 2024. Nonetheless, the worth has since fallen to $0.16.

Celestia (TIA)

Celestia is probably the primary modular blockchain community that permits anybody to deploy a private blockchain with minimal overhead. With a market capitalization of $1.2 billion, this new L1 protocol ranks 61st on the CoinmarketCap cryptocurrency aggregation platform. Celestia’s native token, TIA, rose over 87% between This autumn 2023 and Q1 2024. Nonetheless, a extreme bearish pattern brought on the worth of TIA to say no, with the cryptocurrency shedding over 82% of its earlier good points.

TIA has proven notable bullish momentum over the previous three weeks, bouncing off the native help at $3.72 and buying and selling at $5.69 on the time of writing, marking a 54% rise. If the crypto market enters a bull market, earlier momentum could possibly be rediscovered, setting the stage for TIA to make huge good points.

Sui is an L1 blockchain platform designed to help international adoption wants by offering a safe, highly effective, and scalable growth platform. In accordance with knowledge from CoinmarketCap, Sui has a market capitalization of $5.12 billion, rating twentieth amongst different cryptocurrencies.

In accordance with TradingView, SUI has surged 325% previously 9 weeks. At the moment buying and selling at $1.86, SUI may quickly retest its all-time excessive of $2.18.

Sei is ranked 53rd on CoinmarketCap with a market capitalization of $1.7 billion. This blockchain resolution offers crypto exchanges a buying and selling benefit. SEI rose greater than 1,000% earlier this 12 months.

The SEI fell again because of the decline within the total cryptocurrency market, however it’s beginning to recuperate. At the moment buying and selling at $0.48, the token is up over 152% previously 9 weeks, with analysts predicting additional good points.