Five-year price · 20 complete calendar quarters · BTC-relative

Layer 1 Crypto Coins

Is Layer 1 outperforming Bitcoin, and is leadership broad?

Bottom line

Ethereum ranks first for research priority in Layer 1 crypto at 72.4/100, and its native activity evidence clears the coverage gate. The theme's 13-week excess versus Bitcoin is -12.6% on 34% breadth, which is what decides whether that lead is isolated or broad. 7 of the 65 assets here carry enough native evidence to move past a tape-led label.

These Layer 1 coins are part of the cryptocurrency universe this site tracks daily — 894 of the top 1,000 crypto currency assets by market cap, priced from exchange closes and matched to protocol fees and revenue where a protocol publishes them.

The theme itself · before any single company

How has Layer 1 moved against Bitcoin?

The line below covers up to 5 years and opens on the 5Y view; the buttons cut it shorter. Over the most recent two of them this theme is 37% behind Bitcoin. Protocol revenue across its protocols fell 28% on average over the last four reported quarters.

ASLEEP · 1y −13.3%⚠Price down, no fundamental support9 of 60 coins ahead of Bitcoin by 5% or more over three months

RS — · 14/60 >200d (−2) · 9/60 lead (−5) · EPS 0/4↑

Layer 1, equal-weighted, based at 200 Bitcoin, same base, same start trailing 12-month protocol revenue rising falling

Both lines start at 200 in the same week, so the distance between them is the whole story: the theme line is an equal-weighted index of its 60 coins. The bars underneath are trailing 12-month protocol revenue, one bar per reported quarter, each member rebased to 100 at the start and the theme taking the median — so a price line pulling away from flat bars is a re-rating, not earnings. A bar turns red when that figure is lower than the quarter before. Rules are fixed and applied identically everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while protocol revenue grew 20% or more. Hover any point to read both values and the gap. This is a description of what the numbers did, not advice.

BTC LED market context

Layer 1 vs Bitcoin — Relative Strength & Breadth

Layer 1 crypto has underperformed Bitcoin by 42.9% over 52 weeks on an equal-weight index of current members. Over 13 weeks the figure is -12.6%. 20 of 58 covered assets are above their own 200-day average. DigiByte leads Bitcoin-relative strength at +61.7%. Price readings are as of 2026-09-11.

-13%13w vs BTC

-43%52w vs BTC

20/58Above 200-DMA

DGBRS leader · +62%

Assets

canonical functional membership

Activity-covered

7/65

enough native evidence

Top score

72.4/100

Ethereum

Calendar quarters

complete; missing stays missing

Global asset selection · top 20 shown

Showing 20 of 65 assets

00 · exact additive research priority

4-Factor Crypto Evidence Score

A within-theme research-priority score for the 65 assets in Layer 1, out of 100. The four displayed point contributions add exactly to the total, and the market regime changes the action label, never the arithmetic. Ethereum is highest at 72.4/100 on 79% evidence. It ranks research attention, not portfolio action.

Market leadership · 35Network & economic traction · 30Value capture · 20Liquidity & downside risk · 15

Ethereum leads the current research queue at 72.4/100 with 79% evidence.

7/65 assets have enough native activity evidence to move beyond a tape-led label.

13 of the 78 Layer 1 coins are not rated this week: 9 have no price within 7 days, 4 report no traded volume. They are listed in full below the ranking.

Missing native metrics are not scored as zero and are not silently reweighted. They pull only the affected factor toward neutral and lower its visible evidence percentage. An asset with nothing measurable at all is not scored at 50 either — it is listed as not rated.

1. Ethereum · ETH

72.4/100 · Priority research · 79% evidence

Exact sum: 33.6 + 14.8 + 10.7 + 13.3 = 72.4

Decision use: Evidence is mixed. Keep normal research priority and wait for two pillars to agree.

33.6/35Market leadership

RS-BTC 29.9 pp · RS-sector 19.3 pp · 200-DMA above

100% evidence

14.8/30Network & economic traction

Fees -74% · revenue — · users 28.1%

63% evidence

10.7/20Value capture

Fee yield 0.14% · revenue yield —

50% evidence

13.3/15Liquidity & downside risk

30d median volume $14,176,421,067 · vol 70.5%

100% evidence

2. Solana · SOL

70.0/100 · Priority research · 86% evidence

Exact sum: 34.0 + 8.9 + 13.5 + 13.6 = 70.0

Decision use: Price leads usage. Wait for fees, users or TVL to confirm the move.

34.0/35Market leadership

RS-BTC 28.9 pp · RS-sector 20.9 pp · 200-DMA above

100% evidence

8.9/30Network & economic traction

Fees -68.4% · revenue -91.2% · users —

53% evidence

13.5/20Value capture

Fee yield 0.63% · revenue yield 0.07%

100% evidence

13.6/15Liquidity & downside risk

30d median volume $3,142,663,668 · vol 64.8%

100% evidence

3. Kava · KAVA

68.7/100 · Tape-led · on-chain proof incomplete · 50% evidence

Exact sum: 31.6 + 15.0 + 10.0 + 12.1 = 68.7

Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.

31.6/35Market leadership

RS-BTC 24.7 pp · RS-sector 47.6 pp · 200-DMA above

100% evidence

15.0/30Network & economic traction

Fees — · revenue — · users —

0% evidence

10.0/20Value capture

Fee yield — · revenue yield —

0% evidence

12.1/15Liquidity & downside risk

30d median volume $9,156,147 · vol 48.9%

100% evidence

4. VeChain · VET

65.7/100 · Tape-led · on-chain proof incomplete · 50% evidence

Exact sum: 30.5 + 15.0 + 10.0 + 10.2 = 65.7

Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.

30.5/35Market leadership

RS-BTC 23.2 pp · RS-sector 50.8 pp · 200-DMA above

100% evidence

15.0/30Network & economic traction

Fees — · revenue — · users —

0% evidence

10.0/20Value capture

Fee yield — · revenue yield —

0% evidence

10.2/15Liquidity & downside risk

30d median volume $15,377,940 · vol 96.1%

100% evidence

5. Bitcoin SV · BSV

64.4/100 · Tape-led · on-chain proof incomplete · 50% evidence

Exact sum: 28.4 + 15.0 + 10.0 + 11.0 = 64.4

Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.

28.4/35Market leadership

RS-BTC 18.5 pp · RS-sector 0 pp · 200-DMA above

100% evidence

15.0/30Network & economic traction

Fees — · revenue — · users —

0% evidence

10.0/20Value capture

Fee yield — · revenue yield —

0% evidence

11.0/15Liquidity & downside risk

30d median volume $9,212,081 · vol 73.2%

100% evidence

6. DigiByte · DGB

62.6/100 · Illiquid · research only · 50% evidence

Exact sum: 30.8 + 15.0 + 10.0 + 6.8 = 62.6

Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.

30.8/35Market leadership

RS-BTC 61.7 pp · RS-sector -0.5 pp · 200-DMA above

100% evidence

15.0/30Network & economic traction

Fees — · revenue — · users —

0% evidence

10.0/20Value capture

Fee yield — · revenue yield —

0% evidence

6.8/15Liquidity & downside risk

30d median volume $2,856,802 · vol 99.1%

100% evidence

7. Abey · ABEY

61.8/100 · Illiquid · research only · 50% evidence

Exact sum: 30.8 + 15.0 + 10.0 + 6.0 = 61.8

Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.

30.8/35Market leadership

RS-BTC 28.4 pp · RS-sector 15.4 pp · 200-DMA above

100% evidence

15.0/30Network & economic traction

Fees — · revenue — · users —

0% evidence

10.0/20Value capture

Fee yield — · revenue yield —

0% evidence

6.0/15Liquidity & downside risk

30d median volume $10,888 · vol 36.8%

100% evidence

8. XRP · XRP

61.1/100 · Tape-led · on-chain proof incomplete · 50% evidence

Exact sum: 24.2 + 15.0 + 10.0 + 11.9 = 61.1

Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.

24.2/35Market leadership

RS-BTC -1.9 pp · RS-sector 20.4 pp · 200-DMA above

100% evidence

15.0/30Network & economic traction

Fees — · revenue — · users —

0% evidence

10.0/20Value capture

Fee yield — · revenue yield —

0% evidence

11.9/15Liquidity & downside risk

30d median volume $2,666,979,904 · vol 88.4%

100% evidence

9. VeThor · VTHO

60.7/100 · Illiquid · research only · 50% evidence

Exact sum: 30.7 + 15.0 + 10.0 + 5.0 = 60.7

Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.

30.7/35Market leadership

RS-BTC 26.4 pp · RS-sector 67.6 pp · 200-DMA above

100% evidence

15.0/30Network & economic traction

Fees — · revenue — · users —

0% evidence

10.0/20Value capture

Fee yield — · revenue yield —

0% evidence

5.0/15Liquidity & downside risk

30d median volume $1,547,870 · vol 119.8%

100% evidence

10. TRON · TRX

59.9/100 · Mixed · 86% evidence

Exact sum: 13.8 + 13.2 + 18.6 + 14.3 = 59.9

Decision use: Cheap on network economics while activity contracts: investigate value-capture trap risk.

13.8/35Market leadership

RS-BTC -13 pp · RS-sector -13.8 pp · 200-DMA above

100% evidence

13.2/30Network & economic traction

Fees -34.5% · revenue -34.5% · users —

53% evidence

18.6/20Value capture

Fee yield 1.39% · revenue yield 1.39%

100% evidence

14.3/15Liquidity & downside risk

30d median volume $474,342,118 · vol 20.3%

100% evidence

11. Ontology Gas · ONG

59.9/100 · Tape-led · on-chain proof incomplete · 43% evidence

Exact sum: 29.4 + 15.0 + 10.0 + 5.5 = 59.9

Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.

29.4/35Market leadership

RS-BTC 52.6 pp · RS-sector 89.4 pp · 200-DMA —

80% evidence

15.0/30Network & economic traction

Fees — · revenue — · users —

0% evidence

10.0/20Value capture

Fee yield — · revenue yield —

0% evidence

5.5/15Liquidity & downside risk

30d median volume $5,500,575 · vol 497.4%

100% evidence

12. Qtum · QTUM

59.8/100 · Tape-led · on-chain proof incomplete · 50% evidence

Exact sum: 24.5 + 15.0 + 10.0 + 10.3 = 59.8

Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.

24.5/35Market leadership

RS-BTC 0 pp · RS-sector 19.4 pp · 200-DMA above

100% evidence

15.0/30Network & economic traction

Fees — · revenue — · users —

0% evidence

10.0/20Value capture

Fee yield — · revenue yield —

0% evidence

10.3/15Liquidity & downside risk

30d median volume $6,325,194 · vol 69.2%

100% evidence

13. Ontology · ONT

58.2/100 · Tape-led · on-chain proof incomplete · 50% evidence

Exact sum: 25.7 + 15.0 + 10.0 + 7.5 = 58.2

Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.

25.7/35Market leadership

RS-BTC -7 pp · RS-sector 39.6 pp · 200-DMA above

100% evidence

15.0/30Network & economic traction

Fees — · revenue — · users —

0% evidence

10.0/20Value capture

Fee yield — · revenue yield —

0% evidence

7.5/15Liquidity & downside risk

30d median volume $8,447,531 · vol 141.4%

100% evidence

14. Bitcoin · BTC

57.9/100 · Tape-led · on-chain proof incomplete · 70% evidence

Exact sum: 25.2 + 12.5 + 5.7 + 14.5 = 57.9

Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.

25.2/35Market leadership

RS-BTC 0 pp · RS-sector 7.1 pp · 200-DMA above

100% evidence

12.5/30Network & economic traction

Fees -64.7% · revenue — · users —

33% evidence

5.7/20Value capture

Fee yield 0.01% · revenue yield —

50% evidence

14.5/15Liquidity & downside risk

30d median volume $30,364,249,353 · vol 47.5%

100% evidence

15. eCash · XEC

57.7/100 · Illiquid · research only · 50% evidence

Exact sum: 26.5 + 15.0 + 10.0 + 6.2 = 57.7

Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.

26.5/35Market leadership

RS-BTC 20.2 pp · RS-sector 2 pp · 200-DMA above

100% evidence

15.0/30Network & economic traction

Fees — · revenue — · users —

0% evidence

10.0/20Value capture

Fee yield — · revenue yield —

0% evidence

6.2/15Liquidity & downside risk

30d median volume $3,989,242 · vol 85.9%

100% evidence

16. Avalanche · AVAX

57.3/100 · Mixed · 86% evidence

Exact sum: 14.5 + 15.6 + 14.0 + 13.2 = 57.3

Decision use: Evidence is mixed. Keep normal research priority and wait for two pillars to agree.

14.5/35Market leadership

RS-BTC -8.8 pp · RS-sector 3.4 pp · 200-DMA below

100% evidence

15.6/30Network & economic traction

Fees -30.5% · revenue -30.5% · users —

53% evidence

14.0/20Value capture

Fee yield 0.21% · revenue yield 0.21%

100% evidence

13.2/15Liquidity & downside risk

30d median volume $294,548,510 · vol 60.7%

100% evidence

17. Electroneum · ETN

55.4/100 · Illiquid · research only · 50% evidence

Exact sum: 27.2 + 15.0 + 10.0 + 3.2 = 55.4

Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.

27.2/35Market leadership

RS-BTC 10.1 pp · RS-sector 34 pp · 200-DMA above

100% evidence

15.0/30Network & economic traction

Fees — · revenue — · users —

0% evidence

10.0/20Value capture

Fee yield — · revenue yield —

0% evidence

3.2/15Liquidity & downside risk

30d median volume $234,707 · vol 144.7%

100% evidence

18. XPR Network · XPR

55.4/100 · Illiquid · research only · 50% evidence

Exact sum: 23.6 + 15.0 + 10.0 + 6.8 = 55.4

Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.

23.6/35Market leadership

RS-BTC 1.3 pp · RS-sector -3.4 pp · 200-DMA above

100% evidence

15.0/30Network & economic traction

Fees — · revenue — · users —

0% evidence

10.0/20Value capture

Fee yield — · revenue yield —

0% evidence

6.8/15Liquidity & downside risk

30d median volume $2,129,424 · vol 57.5%

100% evidence

19. IOST · IOST

53.5/100 · Illiquid · research only · 50% evidence

Exact sum: 23.5 + 15.0 + 10.0 + 5.0 = 53.5

Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.

23.5/35Market leadership

RS-BTC -8.2 pp · RS-sector 50.3 pp · 200-DMA above

100% evidence

15.0/30Network & economic traction

Fees — · revenue — · users —

0% evidence

10.0/20Value capture

Fee yield — · revenue yield —

0% evidence

5.0/15Liquidity & downside risk

30d median volume $4,375,786 · vol 378.9%

100% evidence

20. OHO Blockchain · OHO

52.5/100 · Illiquid · research only · 50% evidence

Exact sum: 21.1 + 15.0 + 10.0 + 6.4 = 52.5

Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.

21.1/35Market leadership

RS-BTC -10 pp · RS-sector 7.1 pp · 200-DMA above

100% evidence

15.0/30Network & economic traction

Fees — · revenue — · users —

0% evidence

10.0/20Value capture

Fee yield — · revenue yield —

0% evidence

6.4/15Liquidity & downside risk

30d median volume $124,985 · vol 47.9%

100% evidence

Showing 20 of 65 ranked assets

01 · complete calendar-quarter evidence

Which projects are generating the most network fees?

LeaderTRON · $429M

Gap43% versus #2

Persistence0 assets have positive comparable growth

Coverage15/65 assets

Investor read: Use this as a network-economics research lead, not token-holder earnings. Verify whether the measured activity accrues to the token before treating scale as value capture.

This conclusion weakens if: fee growth turns negative across two complete calendar quarters or fee coverage falls below the stated threshold.

Trailing 12-month fees is the sum of the latest four complete calendar quarters. Growth compares that sum with the prior four-quarter sum.

Trailing 12-month feestop five

1TRON TRX$429.0M

2Solana SOL$299.1M

3Ethereum ETH$292.3M

4Bitcoin BTC$101.4M

5Avalanche AVAX$6.3M

Fee growthtop five

1Aptos APT-5.0%

2Avalanche AVAX-31%

3TRON TRX-35%

4Cardano ADA-59%

5Bitcoin BTC-65%

Network fees · asset comparison

15/65 level · 9/65 change

Latest comparable data · top 20 shown first

Asset	Trailing 12-month fees	Fee growth
ethereum	$52.8M	-74%
solana	$41.1M	-68%
kava	—	—
vechain	—	—
bitcoin-cash-sv	—	—
digibyte	—	—
abey	—	—
ripple	—	—
vethor-token	—	—
tron	$89.7M	-35%
ong	—	—
qtum	—	—
ontology	—	—
bitcoin	$18.6M	-65%
ecash	—	—
avalanche-2	$330.4K	-31%
electroneum	—	—
proton	—	—
iostoken	—	—
oho-blockchain	—	—
polkadot	—	—
ethereum-classic	—	—
gas	—	—
bitcoin-cash	—	—
cardano	$164.6K	-59%
vaulta	—	—
aptos	$505.6K	-5.0%
conflux-token	—	—
the-open-network	$391.1K	—
sui	$528.5K	—
kusama	—	—
worldcoin-wld	$57.3K	—
nesa	—	—
sonic-3	$10.4K	—
space-and-time	$33.8K	—
neo	—	—
plasma	$7.0K	—
monad	$458.8K	—
waves	—	—
ethereum-pow-iou	—	—
qanplatform	—	—
brevis	—	—
cosmos	—	—
hedera-hashgraph	$62.8K	—
ardor	—	—
ark	—	—
celestia	$6.2K	-89%
stratis	—	—
naoris	—	—
zilliqa	—	—
kaia	—	—
ozone-chain	—	—
constellation-labs	—	—
aelf	—	—
bitkub-coin	—	—
flare-networks	$43.0K	—
apex-4	—	—
movement	$42	—
moonriver	—	—
irys	—	—
g-token	$3.2K	-91%
venom	—	—
quantum-resistant-ledger	—	—
bityuan	—	—
atomone	—	—

Showing 20 of 65 assets

02 · complete calendar-quarter evidence

Which projects convert activity into protocol revenue?

LeaderTRON · $429M

Gap1128% versus #2

Persistence0 assets have positive comparable growth

Coverage7/65 assets

Investor read: Use this as a network-economics research lead, not token-holder earnings. Verify whether the measured activity accrues to the token before treating scale as value capture.

This conclusion weakens if: revenue growth turns negative or the revenue-to-fees take rate falls for two complete calendar quarters.

Trailing 12-month revenue is the sum of the latest four complete calendar quarters. Growth compares that sum with the prior four-quarter sum.

Trailing 12-month revenuetop five

1TRON TRX$429.0M

2Solana SOL$34.9M

3Avalanche AVAX$6.3M

4Gram (prev. Toncoin) GRAM$1.6M

5Worldcoin WLD$541.8K

Revenue growthtop five

1Avalanche AVAX-31%

2TRON TRX-35%

3Solana SOL-91%

Protocol revenue · asset comparison

7/65 level · 3/65 change

Latest comparable data · top 20 shown first

Asset	Trailing 12-month revenue	Revenue growth
ethereum	—	—
solana	$4.9M	-91%
kava	—	—
vechain	—	—
bitcoin-cash-sv	—	—
digibyte	—	—
abey	—	—
ripple	—	—
vethor-token	—	—
tron	$89.7M	-35%
ong	—	—
qtum	—	—
ontology	—	—
bitcoin	$0	—
ecash	—	—
avalanche-2	$330.4K	-31%
electroneum	—	—
proton	—	—
iostoken	—	—
oho-blockchain	—	—
polkadot	—	—
ethereum-classic	—	—
gas	—	—
bitcoin-cash	—	—
cardano	$32.9K	—
vaulta	—	—
aptos	$366.1K	—
conflux-token	—	—
the-open-network	$195.5K	—
sui	$528.5K	—
kusama	—	—
worldcoin-wld	$41.2K	—
nesa	—	—
sonic-3	$10.4K	—
space-and-time	$29.0K	—
neo	—	—
plasma	$7.0K	—
monad	$312.3K	—
waves	—	—
ethereum-pow-iou	—	—
qanplatform	—	—
brevis	—	—
cosmos	—	—
hedera-hashgraph	$0	—
ardor	—	—
ark	—	—
celestia	$0	—
stratis	—	—
naoris	—	—
zilliqa	—	—
kaia	—	—
ozone-chain	—	—
constellation-labs	—	—
aelf	—	—
bitkub-coin	—	—
flare-networks	—	—
apex-4	—	—
movement	$42	—
moonriver	—	—
irys	—	—
g-token	$3.2K	—
venom	—	—
quantum-resistant-ledger	—	—
bityuan	—	—
atomone	—	—

Showing 20 of 65 assets

03 · complete calendar-quarter evidence

Where is capital actually committed on-chain?

LeaderKUB Coin · $1.1B

Gap169% versus #2

Persistence0 assets have positive comparable growth

Coverage3/65 assets

Investor read: Use this as a network-economics research lead, not token-holder earnings. Verify whether the measured activity accrues to the token before treating scale as value capture.

This conclusion weakens if: TVL rises while fees and users fall; that pattern can be incentive-funded mercenary liquidity.

Quarter-end TVL uses protocol TVL first for protocol assets and exact-ID chain TVL for chain assets or where protocol TVL is unavailable. A blank is unavailable, not zero. Growth compares with the same complete quarter one year earlier.

Quarter-end TVLtop five

1KUB Coin KUB$1.1B

2Worldcoin WLD$416.0M

3Gravity (by Galxe) G$23.3M

TVL growthtop five

1KUB Coin KUB-12%

2Worldcoin WLD-17%

3Gravity (by Galxe) G-64%

Total value locked · asset comparison

3/65 level · 3/65 change

Latest comparable data · top 20 shown first

Asset	Quarter-end TVL	TVL growth
ethereum	—	—
solana	—	—
kava	—	—
vechain	—	—
bitcoin-cash-sv	—	—
digibyte	—	—
abey	—	—
ripple	—	—
vethor-token	—	—
tron	—	—
ong	—	—
qtum	—	—
ontology	—	—
bitcoin	—	—
ecash	—	—
avalanche-2	—	—
electroneum	—	—
proton	—	—
iostoken	—	—
oho-blockchain	—	—
polkadot	—	—
ethereum-classic	—	—
gas	—	—
bitcoin-cash	—	—
cardano	—	—
vaulta	—	—
aptos	—	—
conflux-token	—	—
the-open-network	—	—
sui	—	—
kusama	—	—
worldcoin-wld	$416.0M	-17%
nesa	—	—
sonic-3	—	—
space-and-time	—	—
neo	—	—
plasma	—	—
monad	—	—
waves	—	—
ethereum-pow-iou	—	—
qanplatform	—	—
brevis	—	—
cosmos	—	—
hedera-hashgraph	—	—
ardor	—	—
ark	—	—
celestia	—	—
stratis	—	—
naoris	—	—
zilliqa	—	—
kaia	—	—
ozone-chain	—	—
constellation-labs	—	—
aelf	—	—
bitkub-coin	$1.1B	-12%
flare-networks	—	—
apex-4	—	—
movement	—	—
moonriver	—	—
irys	—	—
g-token	$23.3M	-64%
venom	—	—
quantum-resistant-ledger	—	—
bityuan	—	—
atomone	—	—

Showing 20 of 65 assets

04 · complete calendar-quarter evidence

Which chains are gaining real users?

LeaderEthereum · 534,071

Gap1652% versus #2

Persistence1 assets have positive comparable growth

Coverage3/65 assets

Investor read: Use this as a network-economics research lead, not token-holder earnings. Verify whether the measured activity accrues to the token before treating scale as value capture.

This conclusion weakens if: address growth reverses for two complete quarters or activity rises without corresponding fees.

Average daily active addresses uses verified chain activity only. Host-chain users are never assigned to an application token. A blank means the source does not cover that asset, not zero users.

Average daily active addressestop five

1Ethereum ETH534,071

2Gravity (by Galxe) G30,478

3Worldcoin WLD16,977

User growthtop five

1Ethereum ETH+28%

2Worldcoin WLD-20%

3Gravity (by Galxe) G-76%

Active users · asset comparison

3/65 level · 3/65 change

Latest comparable data · top 20 shown first

Asset	Average daily active addresses	User growth
ethereum	534,071	+28%
solana	—	—
kava	—	—
vechain	—	—
bitcoin-cash-sv	—	—
digibyte	—	—
abey	—	—
ripple	—	—
vethor-token	—	—
tron	—	—
ong	—	—
qtum	—	—
ontology	—	—
bitcoin	—	—
ecash	—	—
avalanche-2	—	—
electroneum	—	—
proton	—	—
iostoken	—	—
oho-blockchain	—	—
polkadot	—	—
ethereum-classic	—	—
gas	—	—
bitcoin-cash	—	—
cardano	—	—
vaulta	—	—
aptos	—	—
conflux-token	—	—
the-open-network	—	—
sui	—	—
kusama	—	—
worldcoin-wld	16,977	-20%
nesa	—	—
sonic-3	—	—
space-and-time	—	—
neo	—	—
plasma	—	—
monad	—	—
waves	—	—
ethereum-pow-iou	—	—
qanplatform	—	—
brevis	—	—
cosmos	—	—
hedera-hashgraph	—	—
ardor	—	—
ark	—	—
celestia	—	—
stratis	—	—
naoris	—	—
zilliqa	—	—
kaia	—	—
ozone-chain	—	—
constellation-labs	—	—
aelf	—	—
bitkub-coin	—	—
flare-networks	—	—
apex-4	—	—
movement	—	—
moonriver	—	—
irys	—	—
g-token	30,478	-76%
venom	—	—
quantum-resistant-ledger	—	—
bityuan	—	—
atomone	—	—

Showing 20 of 65 assets

06 · complete calendar-quarter evidence

Which chains are processing the most transactions?

LeaderEthereum · 696,772,935

Gap24% versus #2

Persistence1 assets have positive comparable growth

Coverage3/65 assets

Investor read: Use this as a network-economics research lead, not token-holder earnings. Verify whether the measured activity accrues to the token before treating scale as value capture.

This conclusion weakens if: transaction growth turns negative while users and fees also deteriorate.

Trailing 12-month transactions is the sum of the latest four complete calendar quarters. Growth compares that sum with the prior four-quarter sum.

Trailing 12-month transactionstop five

1Ethereum ETH696,772,935

2Worldcoin WLD560,848,823

3Gravity (by Galxe) G99,169,480

Transaction growthtop five

1Ethereum ETH+56%

2Gravity (by Galxe) G-76%

Transactions · asset comparison

3/65 level · 2/65 change

Latest comparable data · top 20 shown first

Asset	Trailing 12-month transactions	Transaction growth
ethereum	203,851,224	+56%
solana	—	—
kava	—	—
vechain	—	—
bitcoin-cash-sv	—	—
digibyte	—	—
abey	—	—
ripple	—	—
vethor-token	—	—
tron	—	—
ong	—	—
qtum	—	—
ontology	—	—
bitcoin	—	—
ecash	—	—
avalanche-2	—	—
electroneum	—	—
proton	—	—
iostoken	—	—
oho-blockchain	—	—
polkadot	—	—
ethereum-classic	—	—
gas	—	—
bitcoin-cash	—	—
cardano	—	—
vaulta	—	—
aptos	—	—
conflux-token	—	—
the-open-network	—	—
sui	—	—
kusama	—	—
worldcoin-wld	109,358,934	—
nesa	—	—
sonic-3	—	—
space-and-time	—	—
neo	—	—
plasma	—	—
monad	—	—
waves	—	—
ethereum-pow-iou	—	—
qanplatform	—	—
brevis	—	—
cosmos	—	—
hedera-hashgraph	—	—
ardor	—	—
ark	—	—
celestia	—	—
stratis	—	—
naoris	—	—
zilliqa	—	—
kaia	—	—
ozone-chain	—	—
constellation-labs	—	—
aelf	—	—
bitkub-coin	—	—
flare-networks	—	—
apex-4	—	—
movement	—	—
moonriver	—	—
irys	—	—
g-token	6,482,289	-76%
venom	—	—
quantum-resistant-ledger	—	—
bityuan	—	—
atomone	—	—

Showing 20 of 65 assets

06 · let price answer last

Which assets lead on price and relative strength?

DigiByte leads the Layer 1 tape on Bitcoin-relative strength at +62% over 90 days. 20 of 58 covered assets are above their own 200-day average. Price shows what happened; BTC-relative strength shows whether the asset beat crypto’s opportunity-cost benchmark. Both lines run through 2026-09-11.

Complete set · no silent drops

Which assets are in Layer 1?

65 of the 78 coins assigned to Layer 1 are rated and ranked below, and the other 13 are listed under it with the reason each one is not rated — tape-only names that publish no protocol activity included. Each asset has exactly one canonical functional theme, chosen by a specific-to-general first match on its categories.

Rank	Asset	Price	90d	RS-BTC	200-DMA	30d vol	Median volume	Price quality	Activity source	Score	Evidence
1	Ethereum ETH	$2,514.73	+50%	+30%	Above	71%	$14.2B	usable	chain	72.4	79%
2	Solana SOL	$102.40	+49%	+29%	Above	65%	$3.1B	usable	protocol	70.0	86%
3	Kava KAVA	$0.0660	+45%	+25%	Above	49%	$9.2M	usable	tape only	68.7	50%
4	VeChain VET	$0.0073	+43%	+23%	Above	96%	$15.4M	usable	tape only	65.7	50%
5	Bitcoin SV BSV	$16.57	+38%	+19%	Above	73%	$9.2M	usable	tape only	64.4	50%
6	DigiByte DGB	$0.0047	+81%	+62%	Above	99%	$2.9M	usable	tape only	62.6	50%
7	Abey ABEY	$0.0224	+48%	+28%	Above	37%	$10.9K	usable	tape only	61.8	50%
8	XRP XRP	$1.36	+18%	-1.9%	Above	88%	$2.7B	usable	tape only	61.1	50%
9	VeThor VTHO	$0.0006	+46%	+26%	Above	120%	$1.5M	usable	tape only	60.7	50%
10	TRON TRX	$0.3385	+6.8%	-13%	Above	20%	$474.3M	usable	protocol	59.9	86%
11	Ontology Gas ONG	$0.0828	+72%	+53%	—	497%	$5.5M	usable	tape only	59.9	43%
12	Qtum QTUM	$0.8743	+20%	-0.0%	Above	69%	$6.3M	usable	tape only	59.8	50%
13	Ontology ONT	$0.0543	+13%	-7.0%	Above	141%	$8.4M	usable	tape only	58.2	50%
14	Bitcoin BTC	$77,173.80	+20%	0.0%	Above	48%	$30.4B	usable	protocol	57.9	70%
15	eCash XEC	$0.0000	+40%	+20%	Above	86%	$4.0M	usable	tape only	57.7	50%
16	Avalanche AVAX	$7.46	+11%	-8.8%	Below	61%	$294.5M	usable	protocol	57.3	86%
17	Electroneum ETN	$0.0011	+30%	+10%	Above	145%	$234.7K	usable	tape only	55.4	50%
18	XPR Network XPR	$0.0028	+21%	+1.3%	Above	58%	$2.1M	usable	tape only	55.4	50%
19	IOST IOST	$0.0009	+12%	-8.2%	Above	379%	$4.4M	usable	tape only	53.5	50%
20	OHO Blockchain OHO	$0.0009	+9.8%	-10.0%	Above	48%	$125.0K	usable	tape only	52.5	50%
21	Polkadot DOT	$1.04	+6.1%	-14%	Below	99%	$106.1M	usable	tape only	51.5	50%
22	Ethereum Classic ETC	$7.63	+6.2%	-14%	Below	93%	$36.8M	usable	tape only	49.7	50%
23	Gas GAS	$1.25	+11%	-8.8%	Below	80%	$2.4M	usable	tape only	49.7	50%
24	Bitcoin Cash BCH	$228.01	+9.2%	-11%	Below	112%	$167.0M	usable	tape only	48.0	50%
25	Cardano ADA	$0.2062	+20%	+0.2%	Below	83%	$430.3M	usable	protocol	47.0	76%
26	Vaulta A	$0.0768	+6.1%	-14%	—	71%	$286.9K	usable	tape only	47.0	43%
27	Aptos APT	$0.5960	-11%	-31%	—	84%	$5.5M	usable	protocol	45.9	63%
28	Conflux CFX	$0.0467	+3.4%	-16%	Below	69%	$8.1M	usable	tape only	45.6	50%
29	Gram (prev. Toncoin) GRAM	$1.36	-21%	-41%	Above	50%	$55.3M	usable	protocol	45.4	66%
30	Sui SUI	$0.7257	-5.6%	-25%	—	86%	$46.9M	usable	protocol	45.2	43%
31	Kusama KSM	$3.71	+0.3%	-20%	Below	68%	$3.2M	usable	tape only	44.4	50%
32	Worldcoin WLD	$0.3997	-20%	-40%	Above	108%	$197.7M	usable	chain	44.3	76%
33	Nesa NES	$0.1506	—	—	—	181%	$5.4M	usable	tape only	43.9	23%
34	Sonic S	$0.0270	-12%	-32%	—	107%	$1.0M	usable	protocol	43.6	53%
35	Space and Time SXT	$0.0082	-3.6%	-23%	Below	70%	$50.0M	usable	protocol	43.3	50%
36	NEO NEO	$2.13	-3.5%	-23%	Below	70%	$3.9M	usable	tape only	43.2	50%
37	Plasma XPL	$0.0824	-5.5%	-25%	Below	114%	$103.8M	usable	protocol	42.4	50%
38	Monad MON	$0.0233	+7.0%	-13%	Below	112%	$142.7K	usable	protocol	42.3	50%
39	Waves WAVES	$0.2626	-5.7%	-25%	Below	104%	$3.2M	usable	tape only	41.9	50%
40	EthereumPoW ETHW	$0.2533	+5.1%	-15%	Below	56%	$1.5M	usable	tape only	41.6	50%
41	QANplatform QANX	$0.0123	+18%	-2.3%	Below	64%	$27.6K	usable	tape only	41.5	50%
42	Brevis BREV	$0.0756	-6.4%	-26%	Below	59%	$9.4M	usable	tape only	41.3	50%
43	Cosmos Hub ATOM	$1.64	-16%	-36%	Below	80%	$29.8M	usable	tape only	41.3	50%
44	Hedera HBAR	$0.0744	-5.0%	-25%	Below	54%	$50.6M	usable	protocol	40.7	60%
45	Ardor ARDR	$0.0242	+1.2%	-19%	Below	68%	$1.3M	usable	tape only	40.7	50%
46	ARK ARK	$0.1156	-4.7%	-24%	Below	59%	$799.7K	usable	tape only	40.5	50%
47	Celestia TIA	$0.3535	+2.2%	-18%	Below	106%	$21.9M	usable	protocol	40.4	70%
48	Xertra STRAX	$0.0097	+2.2%	-18%	Below	50%	$200.1K	usable	tape only	39.5	50%
49	Naoris Protocol NAORIS	$0.0345	-3.6%	-23%	Below	146%	$1.0M	usable	tape only	38.7	50%
50	Zilliqa ZIL	$0.0027	-17%	-36%	Below	72%	$2.9M	usable	tape only	37.4	50%
51	Kaia KAIA	$0.0292	-21%	-41%	Below	93%	$4.6M	usable	tape only	36.7	50%
52	Ozone Chain OZO	$0.1305	-0.3%	-20%	Below	7%	$219.0K	usable	tape only	36.6	50%
53	Constellation DAG	$0.0070	+0.3%	-19%	Below	50%	$552.6K	usable	tape only	35.6	50%
54	aelf ELF	$0.0558	-14%	-34%	Below	192%	$2.0M	usable	tape only	34.2	50%
55	KUB Coin KUB	$0.5974	-22%	-42%	Below	74%	$252.4K	usable	protocol	33.7	55%
56	Flare FLR	$0.0064	-19%	-39%	Below	82%	$3.3M	usable	protocol	33.5	60%
57	APEX AP3X	$0.0159	-7.2%	-27%	Below	35%	$68	usable	tape only	33.1	50%
58	Movement MOVE	$0.0081	-34%	-53%	—	118%	$429.1K	usable	protocol	32.5	59%
59	Moonriver MOVR	$0.7223	-45%	-65%	Below	165%	$5.2M	usable	tape only	32.3	50%
60	Irys IRYS	$0.0138	-24%	-44%	Below	75%	$2.6M	usable	tape only	32.0	50%
61	Gravity (by Galxe) G	$0.0000	—	—	Below	1,598%	$2.4K	return withheld · discontinuity	chain + protocol	30.9	56%
62	Venom VENOM	$0.0085	-32%	-52%	Below	51%	$77.0K	usable	tape only	29.8	50%
63	Quantum Resistant Ledger QRL	$0.6830	-29%	-49%	Below	82%	$32.3K	usable	tape only	29.3	50%
64	Bityuan BTY	$0.0219	-64%	-83%	Below	67%	$64.9K	usable	tape only	28.1	50%
65	AtomOne ATONE	$0.1012	-55%	-75%	Below	119%	$6.4K	usable	tape only	26.6	50%

Showing 20 of 65 assets

Not rated — and why

13 of the 78 Layer 1 coins are not rated this week: 9 have no price within 7 days, 4 report no traded volume. Each one stays on this page with its reason instead of being scored at the midpoint of a range nothing measured.

Coin	Market cap	Reason	Detail
Pi Network PI	$1.3B	No price this week	No traded price in the 95 days to 2026-09-11.
Nexus NEX	$175.4M	No traded volume reported	No traded volume is reported on most of the last 30 days, so it has no liquidity reading.
Onyxcoin XCN	$151.7M	No traded volume reported	No traded volume is reported on most of the last 30 days, so it has no liquidity reading.
Pharos PROS	$56.8M	No price this week	No traded price in the 95 days to 2026-09-11.
Cysic CYS	$51.8M	No price this week	No traded price in the 95 days to 2026-09-11.
Xphere XP	$39.3M	No price this week	No traded price in the 95 days to 2026-09-11.
Fractal Bitcoin FB	$38.0M	No price this week	No traded price in the 95 days to 2026-09-11.
Orizon ORI	$35.9M	No price this week	No traded price in the 95 days to 2026-09-11.
Core CORE	$32.3M	No traded volume reported	No traded volume is reported on most of the last 30 days, so it has no liquidity reading.
Harmony ONE	$19.2M	No traded volume reported	No traded volume is reported on most of the last 30 days, so it has no liquidity reading.
Songbird SGB	$18.5M	No price this week	No traded price in the 95 days to 2026-09-11.
Mango Network MGO	$15.8M	No price this week	No traded price in the 95 days to 2026-09-11.
Hippo Protocol HP	$14.4M	No price this week	No traded price in the 95 days to 2026-09-11.

Methodology · boundaries make the answer useful

What can make this comparison misleading?

This Layer 1 comparison names 5 ways its own evidence can mislead, all listed below. The largest is that crypto network activity is not company earnings: protocol revenue does not automatically accrue to token holders. Coverage is also uneven — 7 of 65 assets carry enough native evidence to rank on more than price.

Crypto network activity is not company earnings. Protocol revenue does not automatically accrue to token holders.
Market-cap values are a dated universe snapshot, not point-in-time historical supply data.
Current category labels are applied to historical prices; this creates survivorship and taxonomy hindsight.
Funding rates, open interest, liquidations, exchange flows, unlock schedules, historical circulating supply and developer activity are not held and are not inferred.
Equal weighting is used for sector history because true historical market-cap weights are unavailable.

Price and technicalsThrough 2026-09-11. Five-year weekly observations benchmarked to Bitcoin.

Protocol activityThrough 2026-09-11. Fees, revenue, protocol TVL and DEX volume.

Chain activityUsers and transactions through 2026-09-11; separately sourced chain TVL through unavailable.

Market capSnapshot dated 2026-07-04; no historical supply series is implied.

Questions the page should answer directly

Crypto analysis FAQs

These 22 answers cover the questions this page can settle from data it holds — what the category is, how the score is built, what the coverage gaps are, and what would change the read. Every answer below is also present in the page’s FAQ schema and in its plain-text rendition. None of them is a recommendation.

What is Layer 1 crypto?

Layer 1 crypto refers to cryptocurrency projects grouped by what they actually do rather than by market fashion. This page tracks 65 such coins by market cap, price and Bitcoin-relative strength, with protocol fees and revenue where a project publishes them. Readings are as of 2026-09-11.

What is the total market cap of Layer 1 crypto coins?

The 65 Layer 1 coins on this page have a combined market cap of about $1652.3B as of 2026-07-04. Individual figures are in the table. Market-cap metadata is a dated snapshot, separately from the price series.

Are Layer 1 crypto coins outperforming Bitcoin?

Layer 1 has returned -42.9% versus Bitcoin over 52 weeks and -12.6% over 13 weeks on an equal-weight current-member index. 20/58 covered assets are above their 200-day averages as of 2026-09-11.

Which Layer 1 asset has the strongest research score?

Ethereum ranks first at 72.4/100: 33.6 + 14.8 + 10.7 + 13.3 = 72.4. It is labelled “Priority research” with 79% overall evidence and 58% native-economics evidence.

Why are some Layer 1 coins not rated?

13 of the 78 coins are not rated this week: 9 have no price within 7 days, 4 report no traded volume. They stay listed with the reason beside each one rather than being scored at a neutral midpoint, because a missing reading is not a middling reading.

How is the Layer 1 4-factor score calculated?

The exact sum is Market leadership /35 + Network and economic traction /30 + Value capture /20 + Liquidity and downside risk /15. Missing data pulls only the affected factor toward neutral and lowers evidence; it is never silently reweighted.

Why can a Layer 1 asset be labelled tape-led?

Tape-led means price and relative-strength evidence exists but less than half of the native traction and value-capture evidence is available. Such assets remain visible but rank below fully evidenced assets.

Does protocol revenue accrue to the token?

Not necessarily. Protocol fees and revenue measure network economics; token-holder value depends on the protocol’s burn, buyback, staking, distribution and governance rules. This page never assumes accrual merely because revenue exists.

Does crypto have a P/E or PEG ratio?

No comparable company-style P/E or PEG is used. Where coverage permits, the page shows network fee yield and protocol-revenue yield against a dated market-cap snapshot, with an explicit token-accrual caveat.

How much history is shown for Layer 1?

The page shows five years of weekly price and relative-strength history and 20 complete calendar quarters of on-chain activity where available. Missing periods remain gaps.

Why do the crypto data dates differ?

Prices and technical metrics run through 2026-09-11; protocol activity through 2026-09-11; chain users and transactions through 2026-09-11; chain TVL through the latest available chain-TVL date; market capitalisation is a separate snapshot dated 2026-07-04.

Are stablecoins and wrapped tokens included in Layer 1?

No. Pegged, wrapped, liquid-staking receipt and tokenized-asset instruments are excluded because they do not have independent price discovery.

Can one token appear in multiple raw crypto categories?

Yes, but pages on this site assign each asset to exactly one functional theme using a specific-to-general first-match taxonomy. Layer 1 therefore has one canonical membership list.

What would invalidate the current Layer 1 theme read?

One of the three weakening conditions is already in place: 13-week Bitcoin-relative return is already negative (-12.6%). The read fully weakens if fewer than one-third of covered assets remain above the 200-day average and the leading asset’s native activity contracts.

Does this page include funding rates, open interest or token unlocks?

No. Those datasets are not held in the current research store, so the page names them as unavailable rather than inferring them from price.

Which projects are generating the most network fees?

TRON leads Layer 1 crypto on Trailing 12-month fees at $429M, 43% ahead of Solana. 0 of 9 assets with comparable change data are growing. Coverage is 15 of the 65 ranked assets in this theme, through the Q2 2026 calendar quarter. Where a project publishes nothing, the cell stays blank rather than being read as zero. Investor read: Use this as a network-economics research lead, not token-holder earnings. Verify whether the measured activity accrues to the token before treating scale as value capture. This conclusion weakens if fee growth turns negative across two complete calendar quarters or fee coverage falls below the stated threshold.

Which projects convert activity into protocol revenue?

TRON leads Layer 1 crypto on Trailing 12-month revenue at $429M, 1128% ahead of Solana. 0 of 3 assets with comparable change data are growing. Coverage is 7 of the 65 ranked assets in this theme, through the Q2 2026 calendar quarter. Where a project publishes nothing, the cell stays blank rather than being read as zero. Investor read: Use this as a network-economics research lead, not token-holder earnings. Verify whether the measured activity accrues to the token before treating scale as value capture. This conclusion weakens if revenue growth turns negative or the revenue-to-fees take rate falls for two complete calendar quarters.

Where is capital actually committed on-chain?

KUB Coin leads Layer 1 crypto on Quarter-end TVL at $1.1B, 169% ahead of Worldcoin. 0 of 3 assets with comparable change data are growing. Coverage is 3 of the 65 ranked assets in this theme, through the Q2 2026 calendar quarter. Where a project publishes nothing, the cell stays blank rather than being read as zero. Investor read: Use this as a network-economics research lead, not token-holder earnings. Verify whether the measured activity accrues to the token before treating scale as value capture. This conclusion weakens if TVL rises while fees and users fall; that pattern can be incentive-funded mercenary liquidity.

Which chains are gaining real users?

Ethereum leads Layer 1 crypto on Average daily active addresses at 534,071 addresses, 1652% ahead of Gravity (by Galxe). 1 of 3 assets with comparable change data is growing. Coverage is 3 of the 65 ranked assets in this theme, through the Q2 2026 calendar quarter. Investor read: Use this as a network-economics research lead, not token-holder earnings. Verify whether the measured activity accrues to the token before treating scale as value capture. This conclusion weakens if address growth reverses for two complete quarters or activity rises without corresponding fees.

Which chains are processing the most transactions?

Ethereum leads Layer 1 crypto on Trailing 12-month transactions at 696,772,935 transactions, 24% ahead of Worldcoin. 1 of 2 assets with comparable change data is growing. Coverage is 3 of the 65 ranked assets in this theme, through the Q2 2026 calendar quarter. Where a project publishes nothing, the cell stays blank rather than being read as zero. Investor read: Use this as a network-economics research lead, not token-holder earnings. Verify whether the measured activity accrues to the token before treating scale as value capture. This conclusion weakens if transaction growth turns negative while users and fees also deteriorate.

Which Layer 1 project has the largest fee base?

TRON leads covered trailing-12-month fees at $429M. Coverage is 15/65; this is network activity, not automatically token-holder income.

Which are the biggest Layer 1 crypto coins by market cap?

Bitcoin is the largest Layer 1 crypto coin by market capitalisation at $1.3T, ahead of Ethereum at $212.5B and XRP at $71.5B. The 65 Layer 1 coins on this page carry $1.7T between them, with a market-cap figure on file for 65 of them. Market-cap metadata is dated 2026-07-04.

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