The cryptocurrency market in 2024 saw a significant rally following Donald Trump's victory in the US presidential election. Layer 1 blockchain solutions experienced heightened interest as they provide the foundation for decentralized applications and smart contracts, intensifying the competition for dominance in this space. Notably, Mantra (OM) saw a remarkable 7,035.
2% increase, partly due to its partnership with Zand, a UAE-based digital bank that enables compliant tokenization of real-world assets under Dubai's VARA framework. Additionally, AIOZ Network (AIOZ) reported a 427.6% increase year-to-date, driven by the growing adoption of its decentralized content delivery network and ongoing ecosystem advancements. Sui (SUI) also saw a 388.2% rise, attributed to successful dApp launches and developer-friendly tools. Despite the diminishing dominance of major players like Bitcoin, Ethereum, and Solana, ETH outperformed the S&P 500 with a 24.8% increase in 2024. Other mid- and small-cap Layer 1 tokens, like Shiba Inu (SHIB), which rose 134.3% year-to-date, and Tron (TRX), which saw an 85.5% increase, also experienced significant growth