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L1 vs L2: Entering The Endgame
While Ethereum’s blocks have been nearly full for over a year, we’ve seen multiple L1 & L2 networks...for independently secured modules whereas Ethereum, Polkadot, Near, and Celestia (a relatively new L1...Rollups post all their transaction data on L1 so that any L1 node willing to put the resources together...
15 Min
Validators
Dec 2021
Relief Rally, L1s Battle, L2s Gain Steam
ETH Lags Other L1s Over the past 30 days, ETH has struggled to keep up with other L1 tokens....likely cause for this has been the flurry of announcements regarding new incentive programs on these L1s...L1s Battle For Liquidity Solana, Terra, Avalanche and Fantom have all seen a surge in TVL over the past...
3 Min
Infrastructure
Sep 2021
Inside Avalanche L1s – The Avax Ecosystem
Morgan and FIFA are opting for tailored Avalanche L1s....Avalanche now supports 75 active L1s and over 845 total validators....of L1s live on Avalanche reflects how flexible the architecture is....Maplestory N runs on Henesys, their own Avalanche L1 tailored for the MSU ecosystem....Unlike the other projects, Mogul doesn’t run its own dedicated L1.
18 Min
Infrastructure
Jul 2025
ENS Soars, Whirlpool Farms, & Valuing L1s
Most L1s already have the significant majority of their supply staked (ETH is currently the outlier for...
5 Min
Layer 1 / L1
Apr 2022
Avalanche L1s: Powering the Future of Appchains
Avalanche L1s: Pre-Etna Avalanche L1s pre-Etna were built for scalability and blockspace abundance....the L1’s performance. ...All staking-related operations for the Avalanche L1 are handled by the L1’s validator manager....Any assets on the Avalanche L1 will be solely under the purview of the L1.
22 Min
Infrastructure
Jun 2025
Leverage Watch, ETF Traction, and Relentless L1s
L1s Can’t Stop, Won’t Stop BTC is and has been leading the market for a few weeks now....When BTC momentum slows down, L1 tokens often perform better than any category....L1s have been the best performing tokens since the June bottom — and quite frankly, they boast the highest...Most L1 tokens (especially SOL) experienced a strong catch-up move today.
3 Min
Infrastructure
Oct 2021
L1s Underperform, DebtDAO, & Web3 Goes to Washington
Chart of The Day: Some L1s Win, Some L1s Lose Since the BTC bottom around Jan. 24th, most L1s have...With BTC recovering recently, most L1 tokens are still underwater even as BTC approaches +20% from its...Surprisingly enough, AVAX seems to move with a higher correlation to BTC relative to other L1s.
6 Min
Layer 1 / L1
Mar 2022
L1 Recovery, AVAX Activity, & Intro to Crypto Raiders
Chart of The Day: Near Leads L1 Recovery NEAR led the L1 recovery by growing by ~50% over the past...With LFG putting buy pressure on BTC, it has outperformed multiple other L1s like CRO, AVAX, BNB, and...Chart of The Day: Near Leads L1 Recovery NEAR led the L1 recovery by growing by ~50% over the past […...
5 Min
Infrastructure
Mar 2022
L1s Take Off, Can ETH Catch Up?
Each outperforming L1 has its own narrative driving price....What stands out, however, is ETH’s underperformance relative to other L1 assets....The recent L1 surge, ETH heats up, and BTC liquidity improves.
4 Min
Infrastructure
Aug 2021
Top 10 L1s & dApps by TVL, Bitcoin Battles Tighter Policy Outlook
Total Value Locked Note: Ethereum TVL is on a separate axis to better highlight fluctuations in other L1...
4 Min
Layer 1 / L1
Jan 2022
L1 Performance, Funding Spikes, Options Get More Expensive
Monster August for L1s Layer 1 coins have done extremely well over August, thanks in part to several...
3 Min
Layer 1 / L1
Sep 2021
L1 Recovery, Gearbox Strategic Raise, Searching for Market Bottoms
Chart of The Day: Avalanche and Cosmos Lead L1 Recovery The crypto markets experienced a tumultuous...This, of course, had a knock-on effect on the rest of the market, including other L1s....For more on L1s, you can read more on our Delphi Pro report on L1s vs L2s here. Paywall removed!
7 Min
Layer 1 / L1
Jun 2022
XION - the Abstraction L1
XION is taking a different route through building an L1 network that includes full protocol-level abstraction...This is especially true because they are building a standalone L1 and not an L2....XION is taking a different route through building an L1 network that includ...
3 Min
Layer 1 / L1
Aug 2024
Flash Update: Majors & L1s
More broadly, 10 out of 13 assets within our L1 basket now have negative returns on a YTD basis....More broadly, 10 out of 13 assets within our L1 bas...
1 Min
Macro & Markets
Aug 2024
Keeta Network - Vaporware or The Next Big L1?
TLDR: Keeta is quietly building what most L1s promise but never ship: native compliance, seamless cross-chain...is much to unpack on the technical side and some early indications that Keeta could be the next big L1...overview of Keeta Network, explore some features and use cases that make it more than just another L1...
13 Min
Layer 1 / L1
May 2025
Scaling ETH L1: Is 100x Enough?
A recent proposal (EIP-9698) by Dankrad was made to exponentially raise the gas limit on the L1....: risk destroying the value prop for L2s Don’t scale the L1: risk the L1 failing and ETH becoming worthless...“Scaling the L1 will rug the rollups”. Yes, it will. But to a degree....this subject as it pertained to scaling the L1 even in a rollup-centric world.
8 Min
Layer 1 / L1
May 2025
The Delphi L1 Index Breadth is Stretched -- And That's Bullish
As BTC approaches its all-time high, many of the other assets in the Delphi L1 Index have risen in tandem...of assets in overbought territory (defined as having an RSI reading greater than 70) of the Delphi L1...
1 Min
Macro & Markets
Mar 2024
FTM Leads the Delphi L1 Index Higher in 2023
The Delphi “L1” Index — a market index comprised of 20 leading Layer 1 crypto assets — has been trending...
1 Min
Indices
Feb 2023
Hivemind: Are L1s Still Overvalued, Hyperliquid’s End Game & State of The Market
We deep-dive into the historical L1 premium, the endgame for Hyperliquid, Bitcoin’s quantum threat, Vitalik.../channel/UC9Yy99ZlQIX9-PdG_xHj43Q Timestamps 00:00 Introduction 00:48 State of The Market 13:15 Are L1s...
56 Min
Infrastructure
Feb 2026
The Great L0 Sybil Hunt, Robinhood's Meme Season and Is TON the next hot L1?
In this episode of the Hivemind podcast, the hosts discuss the recent ZK Sync Airdrop and compare it to the Layer Zero Airdrop. They debate the fairness of airdrops and the distribution of tokens to u...
59 Min
DeFi
Jun 2024