# Сопутствующие статьи по теме L1

Новостной центр HTX предлагает последние статьи и углубленный анализ по "L1", охватывающие рыночные тренды, новости проектов, развитие технологий и политику регулирования в криптоиндустрии.

Tether's "Favorite Son" STABLE Crashes? Plunges 60% on First Day, Whale Jumping the Queue + No CEX Listing Sparks Trust Panic

Stable, a new Layer 1 blockchain heavily backed by Tether and Bitfinex, launched its mainnet and STABLE token on December 8. Despite significant pre-launch deposits totalling over $1.3 billion and strong market interest, the token’s first-day performance was highly disappointing. It opened around $0.036, briefly rose to nearly $0.046, then plummeted over 60% to a low of $0.015. Its fully diluted valuation (FDV) fell to $1.7 billion amid thin liquidity. The token’s not yet listed on major centralized exchanges like Binance or Coinbase, limiting its accessibility. The launch wass marred by controversy after a whale deposited hundreds of millions of USDT before the official start time, raising concerns about fairness and possible insider trading. This damaged trust in a project whose core narrative is transparency and reliability. Stable is designed as a stablecoin-focused chain with USDT as the native gas fee, aiming for a near gas-less user experience. It uses a custom DPoS consensus mechanism and is EVM-compatible. However, its tokenomics have raised concerns: STABLE tokens are used only for governance and staking, not fee payment, and 50% of the total 100 billion supply is allocated to the team, investors, and advisors with a one-year cliff. The project faces intense competition from established chains like Polygon, Tron, and Solana, as well as emerging stablecoin-specific L1s like Circle’s Arc and Paradigm-backed Tempo. Its success hinges on rapid execution, ecosystem development, and enterprise adoption planned for late 2025 to mid-2026. Early missteps and a lack of trust have cast doubt on its ability to compete.

marsbit12/09 18:11

Tether's "Favorite Son" STABLE Crashes? Plunges 60% on First Day, Whale Jumping the Queue + No CEX Listing Sparks Trust Panic

marsbit12/09 18:11

L1 Native Tokens' Final 'Monetary Premium' Is Collapsing!

The monetary premium on Layer 1 (L1) native tokens is rapidly fading as stablecoins increasingly dominate as the preferred medium of exchange (MoE) in on-chain economies. While L1 valuations historically incorporated a monetary premium derived from their use as a store of value (SoV) or MoE, data shows a clear shift. On Ethereum, ETH is no longer the primary MoE; stablecoins like USDC and USDT now lead in on-chain transaction volume and top Uniswap pools. A similar trend is observed on L2s like Arbitrum. On Solana, SOL remains the primary MoE due to platforms like Pumpfun and Raydium using it as a quote currency, but USDC is gaining significant traction, especially with new launchpads like MetaDAO adopting it as the default pairing asset. On BNB Chain, USDT has overtaken BNB in trading volume, which had previously been the dominant MoE. The author argues that the market has chosen stablecoins as the superior on-chain MoE. Attempts by ecosystems to enforce their native token as a quote currency add friction and costs for users with minimal price impact. Improved on-chain UX and liquidity are reducing the historical necessity of using volatile native tokens for transactions. The next wave of users will likely use stablecoins, not native tokens, for everyday exchange, further eroding this monetary premium.

比推12/08 20:16

L1 Native Tokens' Final 'Monetary Premium' Is Collapsing!

比推12/08 20:16

BNB Chain Annual Review: Daily Active Addresses Lead Among L1s, Stablecoin Supply Doubles

BNB Chain achieved significant growth in 2025, establishing itself as a leading Layer 1 blockchain with record-breaking metrics. It recorded the highest daily active users (DAU) among all L1s, peaking at 5 million, and maintained a 22.6% market share. Its Layer 2 solution, opBNB, also led in DAU among L2s. Total DEX trading volume surpassed $2 trillion, with 2025 volume reaching approximately $680 billion. Meme coins were a major driver of activity, with BNB Chain一度 surpassing Solana and Ethereum in meme trading volume. Infrastructure like the Four.Meme launchpad and zero-fee campaigns fueled this trend. Stablecoin performance was particularly strong, with total supply doubling to $14 billion. Monthly active addresses for stablecoins ranked first among all blockchains, supported by low fees and initiatives like the "0 Gas Fee Carnival." BNB Chain also emerged as a key platform for Real-World Assets (RWA), with a market cap of $1.74 billion and TVL surging 1,510% quarter-over-quarter. Major institutional entries included BlackRock's BUIDL fund and partnerships with Ondo Finance and Circle. Perpetuals trading grew steadily, with Aster becoming a flagship protocol. Despite challenges, BNB Chain solidified its role as a multi-chain infrastructure hub in Web3.

深潮12/08 09:52

BNB Chain Annual Review: Daily Active Addresses Lead Among L1s, Stablecoin Supply Doubles

深潮12/08 09:52

From ETH to SOL: Why Will L1s Ultimately Lose to Bitcoin?

The article "From ETH to SOL: Why L1s Will Ultimately Lose to Bitcoin?" argues that Bitcoin (BTC) is increasingly dominating the "cryptomoney" narrative, leaving little room for other Layer-1 (L1) blockchains to compete for monetary premium. The core of the argument is that approximately 81% of the total crypto market cap is invested in assets viewed as money or potential money, with BTC alone accounting for 55%. While L1s like ETH, XRP, BNB, and SOL represent a significant portion of the remaining value, their valuations are not primarily driven by revenue or real economic activity. Data shows that L1 revenues have been declining annually, yet their price-to-earnings ratios have soared, suggesting their market caps are almost entirely propped up by speculation on future monetary premium, not fundamentals. The performance of L1s against BTC further supports this. Since December 2022, eight of the top ten L1s have underperformed BTC, with six lagging by over 40%. Solana (SOL) was a notable exception, outperforming BTC by 87%. However, this gain is put into perspective by its ecosystem's explosive growth: a ~3,000% increase in DeFi TVL, fees, and DEX volume. This indicates that an L1 must achieve astronomical, orders-of-magnitude growth to merely eke out a modest performance lead over BTC. The conclusion is that the trend of BTC consolidating monetary premium at the expense of L1s is irreversible. The narrative that an L1 could become "money" is losing credibility as investors now have a decade of data showing that L1s consistently underperform BTC unless their ecosystems experience extreme, unsustainable growth. Without genuine economic growth, L1s' monetary premium will continue to erode.

coinvoice12/08 04:07

From ETH to SOL: Why Will L1s Ultimately Lose to Bitcoin?

coinvoice12/08 04:07

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