Crypto traders continued to bet on the success of layer 1 tokens, as SOL, LUNA and AVAX last year logged impressive price returns. Layer 1 blockchains have been one of the biggest narratives in the crypto industry, especially in the past few years. Their success came as Ethereum, the No. 1 blockchain by the total value of tokens locked in the smart contract, became too congested, leading to an increase in its transactions fees.