L1 Tokens Post 7,000% Growth in 2024, Led by Mantra, AIOZ, and SUI

Layer 1 (L1) tokens have seen exceptional price increases in 2024, with some recording gains of up to 7,000%, according to a report from CoinGecko. The report highlights Mantra (OM), AIOZ Network (AIOZ), and Sui Network (SUI) as the top-performing L1 cryptocurrencies this year. Donald Trump’s U.S. presidential victory was cited as a major contributing factor to these price surges, added the report.

Mantra (OM) emerged as the best-performing L1 token of 2024, boasting a staggering 7,035.2% year-to-date (YTD) increase. CoinGecko attributes this growth to Mantra’s partnership with Zand, a UAE-based digital bank enabling the tokenization of real-world assets (RWAs) in compliance with Dubai’s Virtual Asset Regulatory Authority (VARA). This partnership, coupled with rising institutional interest in RWAs, drew significant capital inflows into OM.

At the time of writing, OM is trading at $3.44, down 4.21% in the past 24 hours and 8.66% in the past week. The Relative Strength Index (RSI) reads a value of 63.88 for OM which means that the cryptocurrency still has bullish potential and the gradient of the line suggests a slight correction before the continuation of the uptrend.

Read also: World Markets Juggle Bitcoin Surge and Trump Trade Uncertainty

AIOZ and SUI Also Among Top Performers

AIOZ Network (AIOZ) recorded a remarkable 427.6% YTD increase, supported by growing adoption of its decentralized content delivery network and continuous ecosystem enhancements. Trading at $0.8008, AIOZ has risen 72.39% over the past week, highlighting its strong market momentum.

Sui Network (SUI), with a 388.2% YTD increase, owes its success to innovative dApps focused on scalability and developer-friendly features. Currently priced at $3.46, SUI has gained 66.92% over the past week. The recent announcement of a Bitcoin staking feature has further boosted investor optimism, suggesting potential for continued growth.