ETH up 30%, Analysts Pick 5 Layer 1 Cryptos Set To Rally!

Ethereum (ETH) has surged past $2,000, gaining 11% in the past 24 hours, hitting the highest point since July. The recent catalyst for ETH’s surge is the news of BlackRock, a financial giant managing almost $10 trillion, planning to launch an Ether spot exchange-traded fund (ETF). This development boosted ETH by 10%, reaching $2,100 mark, highlighting the market’s excitement about big players entering the crypto landscape.

As Ethereum made headlines, analysts have singled out the top 5 best-performing Layer 1 tokens expected to follow suit in the rally. Let’s take a close look. 

Polkadot (DOT): Bullish Trend Targets $6

While Ethereum takes center stage with its impressive rally, Polkadot (DOT) has signaled a bullish momentum. The current live price of DOT is $5.09 USD, reflecting a 24-hour trading volume of $293,253,840 with 4.11% increase during the past 24Hrs. 

As we end this month, Polkadot aims to close the year on a high note. Last month, Polkadot reported remarkable quarter-on-quarter growth in staking. The token saw a 34% increase from $3.56 to $4.78 in mid-October 2023. Additionally, crypto analysts predict that DOT has the potential to reach a minimum of $6 by the beginning of 2024, making it an intriguing asset for investors eyeing substantial returns.

Vulcan Forged’s PYR: Rallied 100% In A month

Vulcan Forged’s Elysium is a Layer 1 carbon-neutral blockchain, designed for blockchain gaming and metaverses. The platform has witnessed an explosive growth in its native utility token $PYR, soaring by 8% in the past 24 hours and reaching $6.22 at the press time. Notably, the adoption of Vulcan Forged’s $PYR and Elysium chain in the web3 ecosystem offers a distinctive edge over the likes of Solana and Immutable.

With a current trading volume of 51,219,588, $PYR is up by an impressive 60% in just a week. A crypto analyst on Twitter recently predicted “over a 43% breakout for $PYR,” adding that the token will soon reach a $6.72 resistance level. However, it is already trading at over $6 now, and the token has made a significant movement upwards after a breakout. 

Anyone can buy, hodl, or trade this token across major crypto exchanges, including Binance, KuCoin, Coinbase, and more, in multiple trading pairs. The project’s exponential growth is highlighted by its latest listing on Bithumb, marking its rapid expansion across Asian markets.

Additionally, the Elysium chain aligns with Vulcan Forged’s commitment to sustainability, addressing concerns about the energy-intensive nature of blockchain technology. Hence, $PYR and Elysium both fulfill a tangible utility within the web3 ecosystem.

Over the past two years, the project has experienced significant organic growth, boasting an active community of 200,000 users across 15 games. As a blockchain game studio and NFT marketplace, Vulcan Forged has launched Vulcan Studios, a web3 gaming studio that has published over 10 games, including notable titles such as VulcanVerse, Forge Arena, and Berserk. Vulcan Forged claims that their upcoming release, MetaScapes is a patented metaverse-as-a-service and has recently unveiled Tartarus which is the first-ever Oculus VR NFT Game.  

KASPA (KAS) Skyrockets 75% to All-Time High

Yet another Layer 1 platform is Kaspa. The platform’s native token, KAS, has experienced a surge of over 12% in the last 24 hours and an impressive 75% in the previous week, reaching its all-time high. The token is available across multiple cryptocurrency exchanges, including KuCoin, Gate.io, Bybit, Poloniex, and many others. The latest listing is with South Korea’s prominent crypto exchange, Coinone. KAS is impressively ranked as the top 33 cryptocurrency by market capitalization.

LUKSO (LYX) – Redefining Digital Lifestyles

Lukso, a Layer 1 blockchain, has officially introduced Universal Profiles on Mainnet. Created by former Ethereum Developer Fabian Vogelsteller, Lukso aims to be the Blockchain for the new digital lifestyle. As of now, the live Lukso price stands at $6.20 USD, with a 24-hour trading volume of $513,718 USD. The platform has experienced a 3.42% increase in the last 24 hours and monthly growth of 21.87%. A bold prediction suggests that $LYX could reach $800 by 2025/26, underlining the optimistic outlook for Lukso’s future.

Aptos (APT): 9% Weekly Growth Drive

Aptos is a scaling layer 1 blockchain platform which has recently entered a partnership with SK Telecom, a leading mobile company in Korea. The project’s token APT is valued at $7.25 in the current market, having 9.3% again on a weekly chart and 53% on a monthly chart. The project is poised for a significant event as it prepares to unlock over 24 million APT tokens. A crypto analyst has set a price target for APT in the next bull run, ranging between $6.69 and $35. 

As Ethereum grabs headlines with an impressive price surge, the rise of notable Layer 1 tokens like PYR, DOT, KAS, LYX, APT, and many others provides investors with diverse opportunities.