| Investor Takeaway: Layer-1 blockchains are central to the growth of the cryptocurrency and DeFi markets. While there's been a massive boost in investor interest (and subsequent boom/bust cycles), the SEC's recent labeling of some Layer-1s as securities means some caution might be prudent. The modern cryptocurrency ecosystem is based around Layer-1 blockchains. Scalable blockchains like Ethereum, Solana, and Cardano have played, and continue to play, a vital role in the development of notable DeFi technology like NFTs. As such, billions of dollars from investors have flowed into the industry in the last five years.
There's always some give-and-take, however. The inherent volatility of native Layer-1 tokens has also drawn the attention of regulators in the US and EU. In 2023, the SEC is taking a tough stance against all prominent Layer-1 blockchains apart from the big two – Ethereum and Bitcoin.
In this sector report, we will focus on the broad trends in the industry around Layer-1 blockchains, along with a closer look at the potential impact of the recent SEC decisions regarding Layer-1 tokens like Cardano, Solana, and BNB Coin.
Continue reading for the lowdown on Layer-1 solutions >> | 
