Level 1 tokens like the Avalanche rallied in November, while Ethereum prices remained high to keep pace.

In November, interest in so-called Layer 1 tokens continues to grow as many high-level blockchain processes take over the support, and fuel costs on the Ethereum network remain close to all. time.

"Layer 1" refers to a blockchain that operates independently from other blockchains other than "Layer 2". Ethereum.

According to data from Messari, AVAX, the Avalanche token, rose 70% in November, making it the most popular Tier 1 platform with a market value of over $ 10 billion. Among the major cryptocurrencies in November, AVAX was the symbol with the second largest overall increase, after Crypto.com's CRO token, which more than tripled in value in the same month.

Shortly after announcing a partnership deal with Deloitte to create more cost-effective disaster relief using the Avalanche blockchain, AVAX hit record highs in mid-November.

The platform also recently announced more than $ 600 million in market share and support to support network growth, which could be another driver of inflation.

Jeton MOON of Terra

Another alternative to the blockchain, Terra's token, LUNA, rose 28% in the same month, while Solana's SOL rose 5%. It should be noted that the largest cryptocurrency, Bitcoin, fell 4.5% during the same period. ETHereum public cryptocurrency, Ether (ETH), up 7%.

“AVAX, SOL and LUNA have retreated with other standardized tokens,” said Clara, research director at information technology firm Kaiko. said Medallion.

According to IntoTheBlock research, Ethereum's exchange rates are still on the rise, and as of November 27, the exchange rate has hovered around $ 43. Just over a year ago, the price was estimated to be around $ 1.15.

Matthew Dibb, COO and co-founder of Stack Funds, said that as the price of Ethereum continues to fall, users should look for products that are cheaper than other blockchains.

Anto Paroian, COO of cryptocurrency investment ARK36, said blockchains like Solana are growing in popularity as the market predicts the game and peers will pursue the standard. The P2E model refers to electronic games in which users can receive cryptocurrency as a gift.

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Sandbox is a virtual world where players can use NFTs to create and earn money from their gaming experience. SAND tokens have increased 236% this month, while the platform's MANA token Decentraland virtual reality is up 65%.

The P2E Axie Infinity platform fell 0.41% this month.

“This is why blockchains that support tokens and ecosystems like Solana have grown,” Paroian said.

Quantum economics analyst Alexandre Lores said: “Much of the hype, including development projects in the meta-world, sports and NFT sectors, is good for blockchains focused on developing dapps. . »Represents owners of tools, clothing, weapons or other objects in the world of games and virtual reality. Dapp is a business application developed by blockchain, such as financial lending and trading.

“Even if the price of BTC varies, this market will increase tenfold over the next few years,” he added.

Neither Solana nor Avalanche are going to destroy Ethereum anytime soon, Paroian said, but "if ETH doesn't solve the oil problem, it could become indecisive."

IntoTheBlock analyst Juan Pellicer notes that the coin's market value is still low compared to Ethereum's $ 526 billion.

Dibb on Stack Funds is hoping that further declines in BTC could boost sales on AVAX and SOL.

The DOT function is not the desired one.

Polkadot (DOT) was down 24% when most of the top tier platforms were acquired in November.

According to Pellicer, it's not clear why DOT is performing poorly.

Polkadot recently announced its first Parachain auction. The first Polkadot Parachain venture prize was won by the decentralized finance (DeFi) platform Acala, which beat Moonbeam to take the top spot. Parachain is a single level blockchain that runs in parallel from Polkadot.

"One of the reasons Parachain is finally going live, but its traction is slower than marketers want it to be, is because it still lacks the metrics and revenue that other retail chains currently have. blocks. ”Pelicer said.

Edward Moya, chief analyst at forex broker Oanda, told CoinDesk that Cardano was updated in September, called Alonzo Hard Curve, and was struggling to attract big business. It has fallen 16% this month.

“Altcoin trading will be strictly limited and the game between Bitcoin and Ethereum is expected to remain a key strategy for most cryptocurrency traders,” Moya said.