15 Layer-1 (L1) Cryptocurrency Projects to Watch in 2024

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The blockchain landscape continues to evolve at a rapid pace, with Layer-1 (L1) networks forming the backbone of decentralized innovation. As the foundational infrastructure for smart contracts, DeFi, NFTs, and Web3 applications, Layer-1 blockchains are critical to the long-term scalability and security of the digital economy. In 2024, several L1 projects stand out due to their technological advancements, growing ecosystems, and increasing adoption.

This article explores 15 of the most promising Layer-1 blockchain platforms to watch this year—highlighting their unique architectures, performance metrics, and ecosystem developments. Whether you're an investor, developer, or crypto enthusiast, understanding these networks is key to navigating the future of decentralized technology.

What Is a Layer-1 Blockchain?

A Layer-1 blockchain refers to the base-level protocol that processes and finalizes transactions independently. Unlike Layer-2 solutions—which operate on top of existing blockchains to improve speed and reduce costs—Layer-1 networks have their own consensus mechanisms, security models, and native tokens.

These foundational chains are responsible for maintaining decentralization, immutability, and trustless transaction validation. Examples include Ethereum, Bitcoin, and Solana. Their role is crucial: they provide the secure environment upon which all higher-layer innovations depend.

👉 Discover how leading Layer-1 blockchains are shaping the future of finance and tech.

Key Characteristics of Layer-1 Networks

What makes Layer-1 blockchains indispensable in the crypto ecosystem? Several core attributes define their value:

These features make Layer-1 blockchains the cornerstone of Web3’s infrastructure.

Top 15 Layer-1 Blockchains to Watch in 2024

Based on market capitalization, total value locked (TVL), developer activity, and ecosystem growth, here are the most influential L1 projects shaping 2024.

1. Solana (SOL)

TVL: $3.46B | **Market Cap**: $61B | 1-Year Price Change: +464%

Solana stands out for its high throughput and low fees, powered by a hybrid consensus combining Proof of History (PoH) and Proof of Stake (PoS). This enables thousands of transactions per second with near-instant finality.

In 2023, Solana saw explosive growth in DeFi (e.g., Raydium, Jito), NFTs, and memecoins like BONK. The launch of Jupiter’s JUP token and integration with Google Cloud strengthened its developer tools. With over 2,000 nodes and initiatives like Firedancer—a new validator client aimed at boosting performance—Solana remains a top contender in scalability.

2. Avalanche (AVAX)

TVL: $1.5B | **Market Cap**: $13.4B | 1-Year Price Change: +83%

Avalanche leverages a unique consensus model blending classical and Nakamoto approaches for fast finality—under two seconds. Its subnet architecture allows custom blockchains to run securely within the ecosystem.

2023 saw a surge in inscription activity (ASC-20 tokens), driving transaction volume and fee revenue. Partnerships with institutions like JPMorgan’s Onyx underscore its enterprise appeal. High network usage pushed daily transactions past 2.3 million at peak times.

3. Kaspa (KAS)

Market Cap: $2.7B | 1-Year Price Change: +257%

Kaspa is a PoW blockchain using GHOSTDAG, a directed acyclic graph (DAG)-based protocol that enables high block frequency and instant finality. It’s positioning itself as a scalable alternative to Bitcoin with faster confirmations.

The shift from GoLang to Rust improved performance significantly. With plans for smart contract support and growing interest in its mobile wallet solutions, Kaspa is gaining traction among developers seeking efficient base-layer infrastructure.

4. Bitcoin (BTC)

TVL: $1.1B | **Market Cap**: $1.2T | 1-Year Price Change: +108%

As the original cryptocurrency, Bitcoin remains the gold standard for security and decentralization. Though not originally designed for smart contracts, innovations like Ordinals and Inscriptions have unlocked NFT-like capabilities directly on Bitcoin.

Layer-2 solutions such as Stacks and protocols like Atomicals are expanding Bitcoin’s utility in DeFi and digital ownership. The upcoming halving event in 2024 could further drive scarcity and market momentum.

5. The Open Network (TON)

TVL: $145M | **Market Cap**: $21.9B | 1-Year Price Change: +169%

Originally backed by Telegram’s founders, TON is now community-driven through the TON Foundation. Designed for speed and usability, it supports decentralized storage, payments, and dApps.

A major catalyst came in early 2024 when Telegram announced it would pay 50% of ad revenue to channel owners via Toncoin, sparking a 40% price spike. With over 800 million Telegram users potentially adopting TON-based services, its real-world integration potential is massive.

👉 See how next-gen blockchains are integrating with global platforms like messaging apps.

6. Internet Computer (ICP)

TVL: $88M | **Market Cap**: $5.7B | 1-Year Price Change: +112%

Developed by the DFINITY Foundation, ICP aims to host entire web applications directly on-chain—eliminating traditional servers. It supports HTTPS outcalls, WebSockets, and even Bitcoin integration.

Recent upgrades enabled complex dApps and DAOs via the Service Nervous System (SNS). Growing community-led NFT and social media projects indicate strong grassroots innovation.

7. Sei (SEI)

TVL: $27M | **Market Cap**: $1.37B | 1-Year Price Change: +6,000%**

Sei is optimized for DeFi trading with a built-in order-matching engine that reduces latency—ideal for DEXs. Built using the Cosmos SDK, it emphasizes performance for financial applications.

With a $120M ecosystem fund and strategic focus on Asian markets, Sei is rapidly expanding its presence in gaming and NFT sectors while attracting early-stage builders.

8. Sui (SUI)

TVL: $557M | **Market Cap**: $1.54B | 1-Year Price Change: -73%**

Sui uses the Move programming language and a novel consensus mechanism to enable parallel transaction processing—boosting speed and efficiency. It achieved a record 65.8 million daily transactions in 2023.

The introduction of zkLogin allows users to access dApps using Web2 identities securely. Programs like TurboStar support new projects through funding and visibility boosts.

9. Aptos (APT)

TVL: $342M | **Market Cap**: $3.8B | 1-Year Price Change: -27%**

Like Sui, Aptos uses Move for secure smart contracts and parallel execution for scalability. Backed by investors like Tiger Global and PayPal Ventures, it hosts growing DeFi, gaming, and wallet innovations.

Partnerships with Microsoft and NEOWIZ highlight its enterprise potential. Infrastructure upgrades like NFT indexers and multi-sig wallets enhance usability.

10. Polkadot (DOT)

TVL: $230M | **Market Cap**: $9.6B | 1-Year Price Change: -0.39%**

Polkadot enables interoperability between specialized blockchains called parachains. Its shared security model allows chains to launch without building their own validator sets.

With over 19,000 developers contributing in March 2023 alone, Polkadot’s ecosystem is thriving. Upcoming Polkadot 2.0 aims to improve governance, scalability, and cross-chain communication.

11. Cosmos (ATOM)

TVL: $1.25M | **Market Cap**: $3.1B | 1-Year Price Change: -36%**

Cosmos connects independent blockchains via the Inter-Blockchain Communication (IBC) protocol. Recent upgrades introduced interchain accounts and liquid staking.

The migration of major projects like dYdX and integration of USDC via Noble signal strong institutional interest in its interoperable framework.

12. Ethereum (ETH)

TVL: $49B | **Market Cap**: $371B | 1-Year Price Change: +47%**

Ethereum remains the leader in DeFi and NFTs with over 3,000 active dApps. The transition to PoS under Ethereum 2.0 has drastically reduced energy consumption.

Layer-2 rollups continue to scale Ethereum efficiently. Future upgrades aim to enhance data availability and cross-chain interoperability—solidifying its role as the central hub of Web3.

13. BNB Chain (BNB)

TVL: $5.2B | **Market Cap**: $82B | 1-Year Price Change: +64%**

Originally Binance Smart Chain, BNB Chain offers fast, low-cost transactions using a PoSA consensus model. It supports EVM-compatible dApps seamlessly.

With over 1,300 dApps and strong backing from Binance’s ecosystem, it continues to dominate in DeFi volume outside Ethereum.

14. Kava (KAVA)

TVL: $193M | **Market Cap**: $704M | 1-Year Price Change: -30%**

Kava combines Cosmos SDK scalability with EVM compatibility—a “co-chain” design that supports both ecosystems. It features USDX, a native USD-pegged stablecoin.

Upgrades like Kava 14 introduced direct USDt minting on Cosmos, improving liquidity across DeFi platforms.

15. ZetaChain (ZETA)

TVL: $3.25M | **Market Cap**: $325M | 1-Year Price Change: +133%**

ZetaChain aims to be a universal blockchain capable of interacting with any chain—even non-smart contract ones like Bitcoin. Its full-chain smart contracts allow seamless cross-chain logic execution.

With over 1 million testnet users and partnerships with Chainlink and The Sandbox, ZetaChain is building momentum as a key player in true interoperability.

The Synergy Between Layer-1 and Layer-2

While Layer-2 solutions tackle scalability challenges through rollups and sidechains, they rely entirely on Layer-1 for security and finality. This symbiotic relationship ensures that performance gains don’t come at the cost of decentralization.

For example:

As blockchain adoption grows, this dual-layer evolution will remain essential for balancing speed, cost, security, and decentralization.

👉 Learn how top blockchains balance innovation with security across layers.

Frequently Asked Questions (FAQs)

What is the difference between Layer-1 and Layer-2 blockchains?

Layer-1 blockchains are the foundational networks where transactions are processed natively (e.g., Ethereum). Layer-2 solutions are built on top of them to improve scalability (e.g., Arbitrum), relying on the base layer for security.

Which Layer-1 blockchain has the highest TVL?

As of 2024, Ethereum leads with over $49 billion in total value locked—more than all others combined—due to its dominant DeFi ecosystem.

Why is interoperability important for Layer-1 networks?

Interoperability allows different blockchains to communicate securely—enabling asset transfers, shared data, and cross-chain smart contracts—essential for a unified Web3 experience.

Can a Layer-1 blockchain fail?

Yes—if it suffers from poor governance, centralization risks, low developer activity, or repeated outages (like Solana has experienced), user trust can erode over time.

Are new Layer-1 blockchains still competitive against Ethereum?

Yes—projects like Solana, Avalanche, and Sui offer faster speeds or lower costs. However, Ethereum maintains an edge in security, decentralization, and developer mindshare.

What factors should I consider when evaluating a Layer-1 project?

Look at:

Final Thoughts

Layer-1 blockchains remain the bedrock of the decentralized internet. From Bitcoin’s unmatched security to Solana’s blazing speed and Ethereum’s vast ecosystem, each network offers unique strengths tailored to different use cases.

In 2024, innovation continues across consensus models, interoperability protocols, and developer tooling—driving broader adoption beyond niche communities into mainstream finance, entertainment, and identity systems.

As you explore these projects further—whether as an investor or builder—remember that long-term success depends not just on technology but on community trust, sustainable economics, and real utility.


Core Keywords: Layer-1 blockchain, Solana, Ethereum, interoperability, DeFi, blockchain scalability, smart contracts, crypto ecosystem