Layer 1 (L1) tokens have generally underperformed in 2025, according to Castle Labs. Notable declines include HYPE down 6.5%, ETH down 15.3%, SOL down 35.9%, SUI down 67.3%, AVAX down 67.9%, and TON down 73.8%. In contrast, BNB and TRX have recorded positive gains of 18.2% and 9.8%, respectively.