Analysis of Weekly Trending Crypto Track - Layer1

2024-07-29, 03:35

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![](https://gimg2.gateimg.com/image/article/1722223853rdzz.jpeg)
## TL；DR
The <a href="/price" target="_blank" class="blog_inner_link">crypto market</a> has experienced continuous fluctuations and declines in the past week, with a rapid decline near the weekend closing period. Although there was an overall pullback during the weekend, most tracks showed a relatively obvious downward trend throughout the week. Among the various track projects that rank high in the top rankings, measured by the two dimensions of overall decline and market ranking, the track with relatively high heat this week is Layer1.

The overall weekly decline of Layer1 track was 1.0%, which is relatively small among mainstream tracks. The top-ranked currencies in terms of market value are mainly mainstream currencies ranked by overall market share, as Layer1 covers most of the total value of the crypto market. BTC's weekly market changes were mainly slight increases, but it performed well among top mainstream currencies. Due to the overall market rise last week and the impact of market volatility and news factors, this week's main tone is a correction in the overall market. Therefore, this week, we chose to provide a basic overview of the Layer1 track and briefly introduce popular projects, including popular dApps or coin issuance information, while also making some predictions about the market.

The current overall market value of the MEME track is $2.02 trillion, accounting for the majority of the crypto market share, with a 0.4% increase within 24 hours. The overall market trend has been mainly volatile for the week.

This article mainly focuses on the trend analysis of mainstream projects in the Layer1 track, and also provides some general explanations for the top growth projects.
## Top Coins
### BTC
BTC experienced a slight upward trend this week, with a seven-day increase of 2.2%. The price remained above $68,000 for the week, but experienced a rapid downward trend during the mid-week period, with the peak breaking through $69,000. Overall, the <a href="/price/bitcoin-btc" target="_blank" class="blog_inner_link">BTC price</a> trend over the week is mainly characterized by fluctuating upward movements, with the overall market showing a fluctuating trend throughout the week.

Although BTC's overall increase over the week was relatively small, and the closing price was similar to the opening price, it is already one of the top mainstream currencies with the week's best performance. This is based on the repeated impact of news factors during this week, and the key is the series of remarks made by Trump at the US Crypto Conference. This has also affected the overall crypto market trend this week, and BTC has experienced a continuous net inflow of large amounts of funds since last week. Although this trend has decreased this week, BTC's bullish market is still relatively stable and is expected to maintain a volatile upward trend next week.
![](https://gimg2.gateimg.com/image/article/17222239081.jpeg)
BTC Price Data (Source: coingecko)

### ETH
ETH's performance this week has been more volatile compared to BTC, experiencing an initial rise followed by a decline, and entering the weekend, the market has rebounded slightly. ETH has shown an overall downward trend for the week, with a drop of 5.7%, and the weekly price peak is around $3,538. Overall, the currency reached a one-week high at the beginning of the week, followed by mainly volatile fluctuations, and experienced a rapid decline during the mid-week period with changes in the market. As of now, the price of the currency has reached around $3,273.

The weekly decline of ETH is within the normal range within the Layer1 track, but among the top mainstream currencies, the decline is relatively large. Although ETH officially launched a spot ETF this week, its performance was not good, and the inflow of external funds was not optimistic, which had a certain impact on the price trend of ETH. Although the overall market situation has rebounded in the future, the price of ETH is diffcult to return to above $3,500. ETH continued the overall trend of last week's market during the opening period, with a slight fluctuation and decline as the main trend. However, it quickly fell due to the influence of news factors. The probability of the currency experiencing another upward trend next week is still relatively low, and the probability of being affected by the overall market volatility trend is relatively high.
![](https://gimg2.gateimg.com/image/article/17222239402.jpeg)
<a href="/price/ethereum-eth" target="_blank" class="blog_inner_link">ETH Price</a> Data (Source: coingecko)

###  BNB
<a href="/price/bnb-bnb" target="_blank" class="blog_inner_link">BNB</a>'s performance this week followed the overall market trend. Since the opening, the price has been fluctuating downwards, falling from above $600 to below $580. Subsequently, the overall market has been declining in the short term, with BNB prices hitting the bottom and falling below the $560 level. BNB prices have fluctuated significantly this week, with a weekly decline of around 1.8% and a weekly high of around $602 during the opening session. Overall, the price of this currency reached its highest point of the week at the beginning of the week, and continued to fluctuate and decline thereafter.

The weekly fluctuation range of BNB is relatively small among the top mainstream currencies, but the price fluctuation range is relatively large. As an exchange platform token, BNB mainly fluctuates with the overall market volatility, and the timing of fluctuations is more obvious than that of other currencies. However, it is highly likely that this currency will experience sustained small fluctuations in the market next week, mainly requiring significant market changes.
![](https://gimg2.gateimg.com/image/article/17222239983.jpeg)
<a href="/price/bnb-bnb" target="_blank" class="blog_inner_link">BNB Price</a> Data (Source: coingecko)

## Trending Projects
### CCD-Concordium
Concordium is a Layer 1 blockchain backed by technology and responsible for the environment. It enables individuals and businesses to navigate <a href="/web3" target="_blank" class="blog_inner_link">Web3</a> confidently. This blockchain enables verifiable autonomous data ownership and secure transactions at low cost.

With Concordium, users can responsibly harness the power of blockchain technology while cultivating trust in the digital world.

CCD, as a native token launched by Concordium, was launched in the first quarter of 2022 and quickly reached a historical high of $0.115550. However, the price subsequently plummeted and has shown a continuous downward trend since the second quarter of 2022.

CCD launched a new incentive program this week, based on ID solutions to empower the ecosystem. At the same time, Boris, who has 20 years of experience in digital asset infrastructure, was announced as CEO, and multiple actions have driven the currency's rapid rise in the past week.

CCD's weekly increase has reached 31.4%, with a high price of $0.00412. This is the highest weekly increase in the Layer1 track, but it belongs to the non-mainstream currency category, with a market value ranking of around 700+.
![](https://gimg2.gateimg.com/image/article/17222240324.jpeg)
CCD Price Data (Source: coingecko)

### AIOZ-AIOZ Network
AIOZ Network is a comprehensive infrastructure solution driven by human resources. It is used for Web3 storage, decentralized AI computing, live streaming, and video on demand (VOD).

As the global demand for digital content continues to grow, the demand for reliable and scalable solutions for file storage, video hosting, and content delivery is exploding. AIOZ aims to create a new demand beyond many traditional infrastructures and meets the "online first" needs.

AIOZ Network is a well-established project that focuses on the field of Web3 infrastructure construction. Its native governance token,AIOZ, was launched in the second quarter of 2021 and immediately reached a historical high of $2.2. Subsequently, the price plummeted to within the range of $0.3 and fluctuated around, but there were still two rounds of significant coin price increases, and it is currently in the second cycle.

This week, AIOZ Network mainly focused on external project cooperation and showcasing technical features, conducting a special X Space. At the same time, the project's new Web3 platform is about to be launched, which includes new features such as AI, decentralized storage, and GPU computing power. Multiple news have driven the rise of the AIOZ token.

However, AIOZ has experienced significant fluctuations in its price over the past week, with a rise of 16.8% and a high point of around $0.5721. It is currently experiencing a new upward trend. However, AIOZ ranks above 100 in market capitalization and is relatively less mainstream.
![](https://gimg2.gateimg.com/image/article/17222240795.jpeg)
AIOZ Price Data (Source: coingecko)

### XEC-eCash
<a href="/price/ecash-xec" target="_blank" class="blog_inner_link">eCash</a> was formerly known as BCHA and later renamed eCash. eCash has realized the vision of legendary figure Milton Friedman, elevating financial freedom to unprecedented heights. With eCash, users will have a simple experience of sending emails when making remittances.

XEC is a native token launched by eCash in the third quarter of 2021. After two months, the coin price rapidly rose to a historical high of $0.00033265, but the duration was short. Subsequently, the coin price experienced continuous fluctuations and declines, remaining relatively low after 2022.

eCash's updates this week mainly revolve around promoting its wallet application, and corresponding actions have been taken within the community. However, its token XEC has risen by 10.8% in a week, which is not particularly significant among the various Layer1 track currencies. The weekly price peak is at $0.00004181.
![](https://gimg2.gateimg.com/image/article/17222240926.jpeg)
<a href="/price/optimism-op" target="_blank" class="blog_inner_link">OP Price</a> Data (Source: coingecko)

## Post Market Forecast
Compared to other projects in the field, the performance of the Layer1 track this week represents the overall market trend of the crypto market, with a weekly fluctuation of -1.0% and relatively small changes. Although the market as a whole has been greatly affected by news factors this week, from the overall market trend, the recovery process of the market will gradually become clear. The Layer1 track has a relatively small decline this week and has performed well among various crypto tracks.

## Hot News
WATER has experienced a continuous volatile upward trend this week, and it is one of the newly launched cryptocurrencies.

Due to its short launch time and significant potential for price increases, the market generally holds a bullish sentiment. In addition, the official is continuously promoting the network testing process, resulting in a lot of updates related to this currency. The weekly increase reached 26.8%, and the weekly high point of the coin price reached $0.01015, which maintains a continuous fluctuation at the $0.01 level.
![](https://gimg2.gateimg.com/image/article/17222241187.jpeg)
The overall performance of the crypto market this week has been affected by the market cycle and news factors, resulting in some fluctuations and a relatively obvious downward trend. Layer 1, as the track with the largest market value in the current market, has a relatively small overall decline, which basically indicates that the main tone of the current market is showing a slight fluctuation trend. Currently, it seems that this trend will continue in the short term, and the fluctuations will be relatively small.

<div class="blog-details-info">
<div>Author:**Charles T.**, Gate.io Researcher
<div>Translator:Joy Z.
<div class="info-tips">\*This article represents only the views of the researcher and does not constitute any investment suggestions.
<div>\*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all cases, legal action will be taken due to copyright infringement.
</div>

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