Recently, the smart contract platform tokens solana (SOL) and avalanche (AVAX), both considered layer one (L1) crypto assets, have been narrowing the gap with ethereum (ETH), the most prominent smart contract platform in terms of market valuation. Over the past month, solana has experienced a 42% surge, while avalanche has soared by 104%. Following the collapse of the Terra blockchain and the FTX failure, SOL and AVAX suffered substantial declines against the U.S. dollar. These cryptocurrencies, once ranked among the top ten, were briefly ousted from their elite top ten status.