2025-12-07 10:27:39

How dramatic is the divergence in performance among L1 public chain tokens this year? Data shows that only four tokens in the entire sector have maintained positive returns—BCH, BNB, HYPE, and TRX.

Among them, BCH stands out the most, with an increase of nearly 40%. Why did it outperform? It may be related to two factors:

On the supply side, it’s relatively healthy; the tokens have long been fully circulated, so there’s no selling pressure from foundations or institutions. On the demand side, there’s room for speculation—the market is betting it could become the next token to get ETF approval.

The other three tokens—BNB, HYPE, and TRX—have also held onto positive returns, but their gains are clearly weaker than BCH. Overall, this round of L1 public chain performance has been quite lackluster, with most struggling in the loss zone.

BCH-1.4%

BNB-1.66%

HYPE-5.78%

TRX-1.34%

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AllInDaddy

· 9h ago

Why does this BCH rally feel a bit hollow... Can the ETF expectation really support it? --- Four coins are holding up the scene, the rest are getting beaten down. L1s have really underperformed this year. --- No selling pressure with full circulation? Feels like institutions have quietly locked up their holdings already. --- That's just how BNB is now. The former leader now needs a floor guarantee just to stay profitable. --- Really betting everything on the ETF, huh? What if the approval falls through?

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HorizonHunter

· 12-07 10:57

This BCH wave is really incredible—full circulation with no sell pressure, that's the real deal. Wait, is this ETF approval thing actually reliable? Feels a bit overhyped. Why are the other coins performing so poorly? Even BNB can't hold up. The L1 public chain sector is really hopeless this year; most are bleeding out. BCH's supply model is definitely smarter than others, but I just want to know if this price surge can hold. Betting on the ETF, if it actually happens, would be insane. Damn, only four coins in the whole sector are in the green—what kind of hell-level difficulty is this? No, seriously, even BNB is just barely breaking even, that's wild. Looks like we need to reevaluate the L1 sector, the divergence is this extreme. Why is BCH so much more popular than BNB? I need to think through that logic.

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ZenChainWalker

· 12-07 10:53

BCH is absolutely crushing it this round. Healthy supply + ETF expectations—this combo is hitting hard. If the other three coins can just hold steady returns, that’s already decent. But compared to the bloodbath among other L1s in the market, they’re still the lucky ones. --- One word for this round of L1 performance—miserable. Thankfully, I didn’t go all in on any single one. --- Wait, why has BNB only gone up this little? Looks like no matter how strong the ecosystem is, it still can’t withstand the overall market environment... --- BCH is taking off directly, kind of regret not paying more attention to it. --- It still mainly comes down to who can buy the dip. When L1s are all depressed, there’s often opportunity hidden there. --- A 40% gain counts as top-tier in this round—those other L1 projects are really just barely surviving.

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SelfRugger

· 12-07 10:53

This BCH rally is really incredible. While others are dropping, it's going up. I'm just worried that if the ETF approval falls through, it might go straight to zero.

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AirdropAutomaton

· 12-07 10:51

This BCH bull run really shows the advantage of full circulation with no selling pressure. The ETF narrative can really be hyped—it looks like I need to keep a close eye on it. The other coins holding up this well is actually not bad, better than most anyway. Is the L1 sector really this weak...? I need to reduce my positions. Wait, BNB is only just in the green? Feels like my holdings are about to hit new lows. It's crazy that TRX is still alive, I thought it was done for a long time ago. The full circulation point is definitely underestimated—no foundation time bombs. Honestly, this BCH move was a bit unexpected, need to do some research. The other three are just tagging along, nothing much to see.

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CryptoComedian

· 12-07 10:46

Laughing and then suddenly crying—BCH is charging ahead alone while all the other coins are just lying there... In the end, we still have to rely on the ETF fantasy to keep going.

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EternalMiner

· 12-07 10:39

This BCH wave is truly incredible—full circulation plus ETF potential. The other coins are just for fun in comparison.

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CoffeeOnChain

· 12-07 10:33

This BCH rally is really fierce; the fact that there’s no sell pressure from full circulation is absolutely crucial. While everyone else is struggling, it just takes off. The L1s are really underperforming—if only four are profitable, let’s not even talk about the ecosystem. To be blunt, nobody wants them. I do believe in the ETF narrative; the market loves this kind of imagination. Who knows, maybe BCH will actually get its turn. The other three are okay too—at least they’re not losing money, much better than those that have been cut in half. This round of the market is really exhausting.

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