Layer 1
The mega-cap base; BTC/ETH dominate and posted +80% in 2025. Not where asymmetric edge lives, but sets the risk regime (BTC dominance ~57% = alt-suppression). The niche action is app-specific L1s that capture their own revenue.
Layer 1 (Smart Contract Platforms)
WARM| 1 | Bitcoin | $1260.0B | 56-58% dominance; the market's gravity |
| 2 | Ethereum | $210.0B | Reabsorbing L2 share; 53% of DeFi TVL |
| 3 | XRP | $130.0B | Payments + RWA push |
| 4 | BNB | $90.0B | Exchange chain, deep liquidity |
| 5 | Solana | $42.7B | High-throughput, memecoin+DeFi hub |
App-specific L1s — Hyperliquid model — chain earns its own revenue
Parallel-EVM chains — Higher throughput EVM (Monad-type)
Move-based chains — Sui/Aptos — safer asset model
Modular DA layers — Celestia-type data availability
Bitcoin L2s — Bring programmability/yield to BTC
Thesis: The mega-cap base; BTC/ETH dominate and posted +80% in 2025. Not where asymmetric edge lives, but sets the risk regime (BTC dominance ~57% = alt-suppression). The niche action is app-specific L1s that capture their own revenue.
FAQ
- Is Layer 1 still growing in 2026?
- The mega-cap base; BTC/ETH dominate and posted +80% in 2025. Not where asymmetric edge lives, but sets the risk regime (BTC dominance ~57% = alt-suppression). The niche action is app-specific L1s that capture their own revenue.
- What are the top Layer 1 projects?
- Bitcoin, Ethereum, XRP, BNB, Solana.
- What are the emerging niches in Layer 1?
- App-specific L1s (Hyperliquid model — chain earns its own revenue) Parallel-EVM chains (Higher throughput EVM (Monad-type)) Move-based chains (Sui/Aptos — safer asset model) Modular DA layers (Celestia-type data availability) Bitcoin L2s (Bring programmability/yield to BTC)
Educational content, not financial advice. Back to all sectors →