Inside the Layer 1 (L1) sector, 01 November 2026

Sector Composition and Concentration

As of 01 November 2026, the Layer 1 (L1) sector covered 113 constituents with a combined market cap of approximately $2.28 trillion. Concentration within the sector is pronounced: Bitcoin alone accounted for roughly $1.57 trillion of that total, representing approximately 69% of the sector figure derived from the figures supplied. Ethereum added a further $277.6 billion, meaning the two largest members together represent the substantial majority of sector weight. The remaining 13 named members range from BNB at $93.6 billion down to Avalanche at $3.9 billion, and the broader universe of smaller constituents is not individually itemised in the data. Any sector-level aggregate is therefore heavily influenced by the behaviour of its top one or two members.

Fee Streams: Coverage and Gaps

Annualized fee figures, derived from the trailing 30 days to 01 November 2026, are available for 14 of the 15 named members. Monero is the sole named member for which no fee figure is reported; the data carries a null value rather than a zero, indicating the figure was not measurable or not captured rather than that fees were definitively absent. Across those members where fees are recorded, the range spans from under $200 annualized (XRP, at approximately $26) to over $291 million (TRON), a spread of several orders of magnitude. How fee data is collected or standardized across heterogeneous networks is not described in the source figures, so cross-network fee comparisons carry methodological uncertainty.

Distance from All-Time Highs

The percent below all-time high figures supplied show a wide dispersion across named members as of 01 November 2026. The smallest drawdown from all-time high among named members belongs to Hyperliquid at -10.2%, while the largest belong to Avalanche and Cardano at approximately -93.9% each. Several other members sit in the -60% to -87% range. These figures describe distance from each asset's own historical peak; they do not reflect a common reference date for those peaks, so they are not directly comparable as period returns.

What the Sector Label Does and Does Not Convey

The designation Layer 1 groups networks that each operate a base-layer consensus mechanism, but the label is broad enough to encompass assets with materially different designs: proof-of-work and proof-of-stake systems, privacy-focused chains, high-throughput application platforms, and payment-oriented networks all appear within these 113 constituents. The shared label indicates a structural characteristic—operating without depending on a separate settlement layer—rather than similarity in economic model, fee mechanism, governance structure, or use case. A reader using this sector aggregate as a proxy for any single member's behaviour, or assuming that members are substitutable in function, would be reading more into the grouping than the classification supports. The data describes what is tracked; it does not imply that tracked assets are operationally comparable.