Top 15 L1 Cryptocurrency Projects to Watch in 2025: In-Depth Analysis of Blockchain Ecosystems

L1 Blockchains: The Foundation of the Blockchain World

When we discuss cryptocurrencies, Layer 1 blockchains (L1) are like the foundation of a building — supporting the security and finality of transactions across the entire ecosystem. Unlike Layer 2 solutions that depend on existing chains, L1 is an independent network with its own consensus mechanism and security model.

From Bitcoin’s proof of work to Ethereum’s switch to proof of stake, and the rise of new eco-friendly chains, the entire L1 track is undergoing rapid iteration. While L2 and L3 can address some scalability issues, they ultimately rely on the security guarantees and final confirmation provided by L1.

Core Advantages of L1 Blockchains

As the cornerstone of the crypto ecosystem, L1 chains have the following features:

Security and Transparency: No single entity controls the network; transactions are tamper-proof, and all transactions are transparent to the public, establishing a trust foundation.

Independent Operation: They do not rely on external systems to execute transactions and smart contracts, using consensus mechanisms like proof of work or proof of stake to ensure network integrity.

Economic Incentives: Most L1 chains have native tokens used for paying fees, staking, and governance, forming a complete economic cycle.

Developer-Friendly: Strong network effects make L1 the preferred platform for developers, capable of supporting various decentralized applications.

Resilience to Risks: Compared to L2 solutions, L1 chains are more resistant to network congestion; the more users, the greater the value.

15 L1 Projects to Watch in 2025

1. Solana (SOL) — Speed King

SOL Current Price: $162.45 | Market Cap: $72.8B | 1-Year Performance: +864%

Solana stands out in L1 for its ultra-fast transaction processing and low costs. Its innovative combination of Proof of History (PoH) and proof of stake has led the industry in transaction speed. SOL is mainly used for on-chain fee payments, executing smart contracts, and user staking to secure the network.

In 2023, Solana’s ecosystem exploded. The Firedancer upgrade promises improved validator performance, supporting a decentralized network of over 2000 nodes. The rise of protocols like Helium, Marinade Finance, and Jito, along with a thriving NFT market and Jupiter DEX routing engine, plus infrastructure support from Google Cloud and AWS, have made Solana a developer favorite. The collaboration between Solana Mobile Saga and Helium Mobile further expands its ecosystem potential.

2. Avalanche (AVAX) — Efficient Executor

AVAX Current Price: $14.16 | Market Cap: $6.09B | 1-Year Performance: -66.77%

Avalanche uses an innovative consensus mechanism that combines classical consensus with Nakamoto consensus advantages. AVAX is used not only for transaction fees but also as a key to network security — participating in consensus via staking.

Last year, Avalanche’s C-Chain recorded an average of 2.3 million transactions per day, with inscriptions accounting for over 50%. This surge pushed network fees higher, with users paying $13.8 million in just five days. As transaction volume soared, Avalanche’s daily processing capacity exceeded 40 transactions per second, with final block confirmation times as low as 1 second. Its partnership with JPMorgan’s Onyx platform further validates its commercial value.

3. Kaspa (KAS) — Rising Dark Horse

KAS Current Price: $0.42 | Market Cap: $4.23B | 1-Year Performance: +156%

Kaspa employs a unique GHOSTDAG consensus mechanism, enabling faster transaction confirmation and scalability compared to traditional chains. KAS tokens are used for paying transaction fees and mining incentives.

A key shift in 2023 was migrating from GoLang to Rust, leveraging modern hardware performance. The evolution of Dag Knight consensus, the launch of high-performance mobile wallets, and increased processing speeds all point toward Kaspa’s goal of building a high-speed, scalable, secure PoW chain. Community confidence in KAS is reflected in an over 1800% increase this year.

4. Bitcoin (BTC) — Digital Gold

BTC Current Price: $93.01K | Market Cap: $1,857.49B | 1-Year Performance: -5.30%

Bitcoin is the pioneer of the crypto world, with an unshakable position. Known for its absolute security and immutability, BTC is both a means of payment and a store of value.

The launch of the Bitcoin Ordinals protocol allows NFTs to be minted directly on the Bitcoin chain (such as ORDI, SATS, RATS). Stacks and other L2 solutions are expanding smart contract capabilities on Bitcoin. Taproot Assets protocol uses UTXO scripts to record various assets, showcasing Bitcoin’s multifunctionality. The halving events every four years further reinforce its scarcity.

5. The Open Network (TON) — Telegram’s Ambition

TON Current Price: $1.86 | Market Cap: $4.49B | 1-Year Performance: -67.55%

TON was designed by the Durov brothers, founders of Telegram, and later taken over by the TON Foundation and the NewTON community. The chain achieves high efficiency through sharding, with Toncoin as its core.

In March 2024, Telegram announced that 50% of ad revenue would be distributed to channel owners via TON blockchain in Toncoin, boosting Toncoin’s price by 40%. If Telegram eventually goes public, combined with its massive user base, TON’s application prospects could be limitless.

6. Internet Computer (ICP) — On-Chain Computing Pioneer

ICP Current Price: $3.20 | Market Cap: $1.75B | 1-Year Performance: -74.01%

Developed by the DFINITY Foundation, ICP aims to redefine the internet by hosting smart contracts and entire software systems on-chain. Its unique consensus supports high throughput, with ICP tokens used for transaction processing, governance participation, and network rewards.

In 2023, ICP introduced WebSocket for real-time interactions, stable memory expansion, HTTPS outbound calls, and direct Bitcoin integration. The launch of the Service Nervous System (SNS) enables permissionless DAO governance. Canisters’ capabilities continue to grow, with early NFT and social app ecosystems emerging.

7. Sei (SEI) — DeFi-Optimized Chain

SEI Current Price: $0.12 | Market Cap: $800.35M | 1-Year Performance: -73.82%

SEI is an L1 chain optimized for DeFi, featuring a native order book engine and built-in matcher, significantly reducing DEX latency. SEI tokens are used for trading fees, governance, and staking.

SEI’s ecosystem fund has expanded to $120 million (including a $50 million injection from Foresight Ventures), focusing on supporting NFT, gaming, and DeFi applications. Chain-level optimizations greatly improve DEX and trading app performance, with Asian market penetration as a growth focus.

8. Sui (SUI) — High-Concurrency Attempt

SUI Current Price: $1.69 | Market Cap: $6.39B | 1-Year Performance: -68.19%

Sui is designed for high throughput and low costs, using the Move programming language to enhance development security. SUI is used for on-chain transactions and governance.

Since mainnet launch, Sui’s single-day transaction volume hit a record 65.8 million, with TVL reaching up to $188 million. zkLogin innovatively uses Web2 social accounts for privacy login. Turbos DEX’s TurboStar project provides funding support and exchange listing opportunities for ecosystem projects.

9. Aptos (APT) — Promoter of Move Language

APT Current Price: $1.91 | Market Cap: $1.44B | 1-Year Performance: -80.86%

Aptos emphasizes high scalability and usability, employing Move language and a parallel execution engine. APT is used for on-chain transaction fees, governance, and staking.

Supported by $400 million investments from Tiger Global, PayPal Ventures, and others, Aptos has accumulated over $85 million in TVL. Collaborations with Sushi, Coinbase Pay, Microsoft, and the rollout of digital asset standards and multi-signature solutions continue to improve its ecosystem.

10. Polkadot (DOT) — Cross-Chain Pioneer

DOT Current Price: $2.10 | Market Cap: $3.47B | 1-Year Performance: -72.64%

Polkadot is a multi-chain ecosystem enabling trustless interaction between different blockchains. Its key advantage lies in parachain connectivity and shared security. DOT is used for governance, staking, and parachain slots.

In 2023, Polkadot’s development contributions hit a record (over 19,000 GitHub commits per month). Parathreads reduce entry costs for small projects, and the new scheduling system enhances network flexibility. The Polkadot 2.0 blueprint promises greater scalability and governance. Staking incentives increased by 50%, attracting more participants.

11. Cosmos (ATOM) — Pioneer of IBC Cross-Chain Protocols

ATOM Current Price: $2.27 | Market Cap: $1.10B | 1-Year Performance: -68.92%

Cosmos is a network of independent chains that achieve secure interoperation via the IBC protocol. ATOM is mainly used for staking and governance.

2023 saw major upgrades in cross-chain security and cross-chain accounts, greatly improving the protection and interoperability of smaller chains. Cosmos Hub’s daily transaction volume reaches 500,000, with ATOM transactions hitting 20 million. Upgrades like Theta and Rho introduced liquidity staking and NFT modules. The Interchain Foundation committed $26.4 million in 2024 to support the ecosystem, with dYdX migration and Noble’s USDC integration signaling positive development.

12. Ethereum (ETH) — King of Ecosystems

ETH Current Price: $3.17K | Market Cap: $382.69B | 1-Year Performance: -13.27%

Founded in 2015 by Vitalik Buterin and others, Ethereum has grown into the world’s largest DApp ecosystem, with over 3,000 active applications. Its early mover advantage has built an unparalleled developer community.

In 2023, Ethereum continued its evolution toward Ethereum 2.0, with mature Layer 2 rollup solutions significantly reducing fees. Fully implementing proof of stake not only reduces environmental impact but also enhances its appeal to eco-conscious investors. More Layer 2 and cross-chain integrations are underway.

13. BNB Chain (BNB) — Power Backing CEX

BNB Current Price: $903.20 | Market Cap: $124.40B | 1-Year Performance: +26.56%

Launched by Binance, BNB Chain (formerly BSC) is the fastest-growing L1. Its dual-chain architecture allows assets to seamlessly move between two ecosystems. Over 1,300 active DApps provide DeFi, NFT, and gaming services.

BNB Chain’s PoSA consensus is faster and cheaper than Ethereum. EVM compatibility enables quick migration for Ethereum developers. In 2023, it rebranded as BNB Chain and launched a PoS sidechain, strengthening governance and decentralization. Cross-chain bridges expand interoperability. In 2024, Layer 2 integrations and sharding will be key focuses.

14. Kava (KAVA) — Hybrid of Cosmos and EVM

KAVA Current Price: $0.08 | Market Cap: $90.32M | 1-Year Performance: -84.83%

Kava uniquely combines Cosmos SDK’s scalability with EVM compatibility, forming a “dual-chain” architecture. This allows Ethereum DApps to leverage Kava’s advantages. KAVA is the governance and staking token.

Kava’s 14th upgrade enabled USDT minting. Collaborations with Circle and others strengthened liquidity. KAVA’s tokenomics shifted to a fixed supply (Kava Tokenomics 2.0), aiming to boost adoption and scarcity. A $300 million community strategic reserve further supports its decentralization vision.

15. ZetaChain (ZETA) — Truly Cross-Chain Linking

ZETA Current Price: $0.08 | Market Cap: $92.15M | 1-Year Performance: -87.37%

Since its launch in March 2023, ZetaChain has positioned itself as a “full-chain” L1 capable of interacting with any chain without restrictions. The ZETA token powers cross-chain functions and governance.

In 2023, the testnet surpassed 1 million users (covering 100+ countries), with over 6.3 million cross-chain transactions and more than 200 DApps deployed. Collaborations with Ankr, BYTE CITY, and Ultiverse expanded infrastructure and application scope. $27 million in funding was raised to enhance cross-chain interoperability.

L1 and L2: Symbiosis, Not Competition

The relationship between L1 and L2 is not competitive but complementary. L2 solutions address scalability and cost through rollups and other mechanisms, but security and finality are still provided by L1. As innovations like Ethereum sharding advance L1, L2 performance also improves. This dual evolution is driving blockchain toward mainstream adoption.

Summary

By 2025, L1 chains remain the core pillars of the crypto ecosystem. From Solana’s lightning speed to Bitcoin’s invincible security, from Ethereum’s vast ecosystem to innovative newcomers, each chain is shaping the future of Web3 in its own way. L1 provides security and decentralization; L2 offers scalability — together, they are pushing blockchain technology toward maturity.