Layer-1 Blockchain Surges 152% In A Week — Outperforms Bitcoin, Ethereum Amid Rebranding Plan

Layer-1 blockchain Solar (CRYPTO: SXP) saw an increase of 152% in the past seven days, outpacing leading cryptocurrencies such as Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH).

What Happened: At the time of writing, SXP was trading at $0.66. 

One possible contributing factor to the rise in SXP price could be attributed to Binance's announcement of support towards the Swipe Mainnet Swap and rebranding plan to Solar.

#Binance Will Support the Swipe $SXP Mainnet Swap & Rebranding Plan to Solar #SXP.https://t.co/zAiUtEfFi1

— Binance (@binance) March 31, 2023

The second on the list is Stellar (CRYPTO: XLM) which saw 16.60% gains, following the Brazilian central bank's launch of its central bank digital currency (CBDC) test on Stellar's blockchain network. Another reason for the uptick could be Pendulum's release of the Spacewalk bridge, which connects the Polkadot infrastructure to Stellar's blockchain.

See More: Top Indian Apps That Give Bitcoin, NFT Rewards

Hedera Network (CRYPTO: HBAR) was third on the list, rallying 15.56% in the last 24 hours after collaborating with the U.S. State Department to foster transparency. 

The fourth on the list is Ripple (CRYPTO: XRP) up 12.69% on the news that the asset’s price surge is in part due to investor confidence that the token’s creators will win a legal battle against the Securities and Exchange Commission (SEC). The last on the list is Zilliqa (CRYPTO: ZIL) up 11.70% in the last 24 hours.

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