The indisputable leader of Layer 1 (L1) protocol Ethereum’s native token Ether (ETH), has achieved a highly anticipated price level of $2k. Cardano (ADA), Solana (SOL), Avalanche (AVAX), and hundreds of other L1 protocols are there but some have outperformed ETH and BTC in terms of growth in the past few days.
Amid the frenzy and popularity of Layer 2 protocols due to their utilities and scalability, L1 networks are still maintaining their relevance. Several L1 projects gained traction in recent months and if they play their cards right, they can be the next big thing in the blockchain and crypto space.
Vulcan Forged ($PYR) Over 60% Up in a Month
The native token for blockchain game studio and NFT marketplace Vulcan Forged, $PYR token, has seen a significant surge in the trading price. The token is trading at $6.1 after witnessing an increase of over 6.4% in the last 24 hours. $PYR saw a massive jump of over 67% in a month and up by more than 80% in the last three months.
The developments on the project behind $PYR has to play a crucial role in the impressive increase. For instance, the L1 chain Elysium blockchain is among the top reasons for the project’s popularity. One of the few blockchains in the crypto space with the carbon-neutrality function, Elysium holds all the necessary features including decentralization, scalability, and faster transaction speed.
Elysium blockchain is among the updates the Vulcan Forged ecosystem has seen this year. The blockchain comes up with optimization for managing tasks related to existing cutting-edge innovations such as metaverse, Web3, and artificial intelligence (AI). The L1 chain is compatible with non-fungible tokens (NFTs) and also has NFT marketplaces and cloud wallet-like features.
Moreover, Vulcan Forged has an impressive growth in the past years. The popular play-to-earn ecosystem onboarded more than 200,000 users who are engaged with the platform through 15 different games and titles. Games from genres action survival, MMORPG, and battle strategy are there including VulcanVerse. Tartarus, Berserk, Forge Arena and many more.
The ecosystem continues to bring new updates based-on cutting-edge technologies. Through the upcoming release of MetaScapes, for instance, the platform would be serving a ‘metaverse-as-a-service engine’ for users.
In addition, Vulcan Forged also brought its popular game Tartarus in an updated version in the form of the first ever oculus VR game—Tartarus VR. This version is going to revolutionize traditional gaming and act as a milestone for Web3 gaming. Players can enjoy all the in-game adventures in a more immersive way and bring all new experiences.
$PYR token hoarded market capitalization of over $173 Million. Given the future opportunities Elysium poses, it suggests there’s enough room to grow and the native utility token of the ecosystem could reflect on the growth.
AIOZ Network (AIOZ)
$AIOZ token is also among the top gainers of Layer 1 crypto assets. The token is native to distributed Content Delivery Network (CDN), AIOZ Network. The token is currently trading at $0.14 after swelling over 30% within a day.
The blockchain technology brought solutions for many inherent issues in the existing tech space along with the new innovations. Content has been one such domain that has seen tremendous growth in the last few decades and AIOZ Network recognizes the potential. The project is distributed CDN based on blockchain and intends to decentralize the content.
$AIOZ is native utility token for AIOZ Network and it currently holds a market cap of $151.3 Million.
LiquidLayer (LILA)
$LILA token also saw an increase in the last few days, enough for the token to outperform $BTC and $ETH. Current trading price of the $LILA token is $0.90. and it is up by over 7% in the last 24 hours. In the last three months, the trading price of LiquidLayer native utility token saw over 100% increase.
LiquidLayer is among the prominent Layer 1 blockchain proof-of-work (PoW) network. However, the blockchain network aspires to go several steps ahead of existing PoW chains. The blockchain claims to solve the blockchain trilemma striking a balance among scalability, security, and decentralization.
$LILA serves as utility token for LiquidLayer network which is used to cover fees, to pay transaction fees and distribute mining rewards. At present, it holds the market cap of nearly $7 Million.
Here’s a short snippet explaining key points to consider while evaluating the aforementioned Layer 1 tokens:
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- Source: https://coinpedia.org/guest-post/ethereum-at-2k-but-these-three-l1-tokens-gained-more-than-btc-eth/
