Category: NFT News

Layer 1s Outperform as Bitcoin Takes a Breather

By Published On: March 19, 20241.8 min readViews: 2110 Comments on Layer 1s Outperform as Bitcoin Takes a Breather

Solana, Aptos and Fantom are up more than 20% in the past week despite a broader market pullback.

Bitcoin and Ether are down 10% and 15%, respectively, from last week’s highs, but some Layer 1 ecosystems continue to forge ahead.

FTM has rallied 17% in the past 24 hours to a new local high, trading above a dollar for the first time since April 2022. Tokens issued to Fantom-based decentralized exchanges SpookySwap, Equalizer and SpiritSwap have soared 50% or more in that span.

FTM Price

Meanwhile, Solana memecoin season continues to defy belief despite SOL retracing 10%. SLERF has doubled despite a huge fumble by the team, and DogWifHat has bounced 25% from its overnight low. SOL remains up 20% in the past 7 days despite paring its gains.