blockchainreporter.net
Layer 1 chains are abundant across the crypto market but the ones whose tokens are witnessing tremendous growth are few. These projects are tough to find, akin to looking for a needle in the haystack. Yet the massive growth such projects and their native tokens saw in the past one year makes them set apart. For instance, Injective ($INJ) saw over 2000% growth in the yearly time frame.
The blockchain is finance-focused and it intends to ensure the top-notch services by bringing artificial intelligence (AI)-like cutting edge technologies. Injective is an interoperable L1 chain and empowers next-gen decentralized finance (DeFi) applications. $INJ token price currently stands at nearly $40 insanely surging over 2,800% year-over-year (YoY).
Though $INJ takes the lead of rallying L1 tokens, there are other players in the domain that are attracting attention too. These L1 tokens are yet to hit some crazy surges but the pump they have seen in the past one year is nothing short of extraordinary.
Solana ($SOL)
The prominent L1 blockchain Solana ($SOL) maintains the highs among the counterparts. The native crypto asset $SOL token stands at the top position across the crypto market with significant market cap. It becomes tough for assets to make big moves after reaching a level but Solana remained an exception.
Almost every other crypto asset faces the consequences of the last crypto winter and it’s up until recently when they start recovery. Solana took a double hit as the network saw frequent outages. But it soon got on par with the issues and the crypto asset skyrocketed since then.
Currently $SOL is trading at $97 and is up by 15% in the last 24 hours. The L1 token surged over 700%, since last year. It’s worth noting that the crypto asset sits at a massive market cap of more than $41 Billion.
Avalanche ($AVAX)
Avalanche ($AVAX) is yet another leading blockchain network which even beats the ones above it in some manner. The L1 chain makes it to the top doing decent in all the required domains. The blockchain beholds smart contract capabilities and hence is among the top choice of decentralized application (DApp) developers.
The transaction speed of over 4,500 transactions per second (TPS) of Avalanche along with security and decentralization makes it preferable L1 chain. Comeback of the blockchain after the last bearish phase is also commendable.
$AVAX token accumulated a market cap of over $17 Billion and the asset is among top ten assets across the crypto market. Currently it is trading at nearly $48 jumping over 7% within a day. The surge of $AVAX more than 300% within a year also caught attention in the broader market.
Elysium ($PYR)
Elysium ($PYR) is the carbon-negative Layer 1 blockchain in the Vulcan Forged ecosystem and is pacing up with the leading L1 chains. The blockchain manages to do so while doing exceptionally well in terms of transaction speed and scalability.
In addition, Elysium is optimized for games, NFTs, metaverse and AI. These sectors are among the most trending ones and their popularity gives the L1 chain a competitive advantage over others.
The Elysium blockchain is a significant addition to the Vulcan Forged ecosystem, aiming to simplify tasks associated with cutting-edge technologies like the Metaverse, Web3, and AI. Functioning as an L1 chain, it supports NFTs, features NFT marketplaces, and offers cloud wallet-like functionalities.
Interactions with Elysium are seamless through widely used Ethereum-compatible tools like MetaMask and Ledger. The native $LAVA token powers the ecosystem, and integration with the $PYR token of Vulcan Forged enhances network functionalities.
Given the utilities within the Vulcan Forged ecosystem and Elysium blockchain, $PYR token saw impressive growth in the past few months. In the yearly time frame, the token surged more than 120%. Currently, $PYR is trading at $6.4 after marking over 4% increase within a day.