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Wu says that, according to Castle Labs statistics, L1 tokens have generally performed poorly this year, with 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%; only BNB and TRX recorded positive gains of 18.2% and 9.8%, respectively.