Layer by Layer Issue 6: Fantom, Tezos, Algorand, and Polkadot

In recent months, several non-Ethereum Layer 1 blockchains have started to see a significant repricing alongside the overall growth of the cryptocurrency market. As of this writing, the total market cap of the crypto market sits at about $2.19T and remains on the cusp of reclaiming its prior all-time high (ATH), up from a local low of $1.24T on July 19th.

Notable examples include Terra and Solana, which continue to lead the pack of L1 ecosystems behind the two largest: Ethereum and Binance Smart Chain. Just this week, Solana reached a new ATH of about $7.2B locked in its DeFi ecosystem.