Altcoin Scorecard
251 tokens scored 1 to 10 on the same 25 fundamental variables, then ranked against each other on every one of them.
Scoring pass 18 Sept 2026. Composite range 48 to 193 out of 250.
01
Read it by verdict
The framework sorts every rated token into one of five bands. The band pages carry the full member list plus the variables that band is collectively strong and weak on, which is the part a single token page cannot show you.
PASS106 tokens
Median 88.5 of 250, from 48 to 106. Strongest on Circulating / FDV Ratio, weakest on Buyback and Burn.
WATCH76 tokens
Median 107 of 250, from 100 to 125. Strongest on Circulating / FDV Ratio, weakest on Buyback and Burn.
CAUTIOUS HOLD39 tokens
Median 128 of 250, from 120 to 151. Strongest on Developer Activity, weakest on BTC Alpha Potential.
HOLD25 tokens
Median 156 of 250, from 140 to 170. Strongest on Circulating / FDV Ratio, weakest on Holder Concentration.
HOLD CORE5 tokens
Median 185 of 250, from 177 to 193. Strongest on Institutional Adoption, weakest on Holder Concentration.
02
Read it by chain
Tokens sharing a settlement layer tend to share its constraints, its regulatory treatment and its liquidity. Where a chain's tokens collectively win or lose says as much about the chain as about any one token on it.
03
Read it by size
Score falls with size across the whole universe, which surprises nobody. What is worth knowing is that inside a single band it stops falling: fix the size bracket and market capitalisation says almost nothing about how a token scores.
04
How the universe scores on each variable
Median and mean across all 251 rated tokens. The variables with the lowest medians are where the asset class as a whole is weak, not where any single token is failing. Each variable name links to its own ranking of the full universe.
| Variable | Theme | Median | Mean | Range |
|---|---|---|---|---|
| Circulating / FDV Ratio | Supply | 6 | 5.84 | 1 to 10 |
| Supply Inflation | Supply | 5 | 4.8 | 1 to 10 |
| Vesting Schedule | Supply | 5 | 5.25 | 1 to 10 |
| Insider Selling | Ownership | 5 | 4.62 | 1 to 9 |
| Developer Activity | Traction | 5 | 4.85 | 1 to 8 |
| Exchange Depth | Position | 5 | 4.97 | 2 to 10 |
| Regulatory Safety | Risk | 5 | 5.45 | 1 to 10 |
| Team Execution | Risk | 5 | 4.75 | 1 to 10 |
| Treasury Runway | Risk | 5 | 5.01 | 1 to 9 |
| P/S Multiple | Cash flow | 4 | 4.2 | 1 to 9 |
| Smart Money Flows | Ownership | 4 | 4.14 | 1 to 10 |
| Holder Concentration | Ownership | 4 | 3.99 | 1 to 6 |
| Real Staking Yield | Cash flow | 4 | 3.8 | 1 to 9 |
| Active Users | Traction | 4 | 4.05 | 1 to 8 |
| Network Growth | Traction | 4 | 4.21 | 1 to 9 |
| Market Share | Position | 4 | 4.07 | 1 to 10 |
| Competitive Moat | Position | 4 | 4.39 | 1 to 10 |
| Catalyst Calendar | Risk | 4 | 4.22 | 1 to 9 |
| Social Mindshare | Position | 4 | 4.16 | 1 to 10 |
| Protocol Revenue | Cash flow | 3 | 3.43 | 1 to 10 |
| Revenue Trend | Cash flow | 3 | 3.62 | 1 to 9 |
| TVL Trend | Traction | 3 | 3.6 | 1 to 9 |
| Institutional Adoption | Position | 3 | 3.79 | 1 to 10 |
| BTC Alpha Potential | Risk | 3 | 3.45 | 1 to 9 |
| Buyback and Burn | Supply | 2 | 2.94 | 1 to 10 |
05
Three other ways in
Read it one variable at a timeEvery variable has its own ranking of all 251 tokens, plus how strongly it correlates with the composite and with market capitalisation. That second number says whether the market is already paying for it.Read it two tokens at a timeCurated head-to-head pages: all 25 variables side by side, the gap on each one called, with market cap, dilution and drawdown next to them.Read it as a ranked listLong-tail answers with one rule each: the most deflationary tokens, net supply direction after inflation and burn, undervalued on price-to-sales, and every exchange token ranked.
06
All 251 rated tokens
Ranked by composite score. Every symbol links to its own page carrying the full 25-variable breakdown, the rank it holds on each variable, its vesting arithmetic and the tokens with the closest fundamental profile.
| # | Token | Score | Verdict | Market cap | Circ | Dilution | Summary |
|---|---|---|---|---|---|---|---|
| 1 | HYPE Hyperliquid | 193 | HOLD CORE | $19.71B | 22.2% | 4.5x | 3 ETFs live (THYP, BHYP, HYPG, about $253M combined AUM). About $600M annualised revenue after four straight quarterly declines, with builder fees now taking 18% of gross before buybacks. about 32% to 37% DEX perps share, down from roughly 70% in 2025. But closed-source, FCA warning, 22% circ. |
| 2 | ETH Ethereum | 187 | HOLD CORE | $313.17B | 100% | 1x | Institutional settlement layer. Commodity classification. Burn collapsed but moat intact. |
| 3 | WSTETH Wrapped Lido Staked ETH | 185 | HOLD CORE | $11.76B | 100% | 1x | Lido's wrapped staked ETH, the DeFi collateral standard with about $17.7B TVL and native yield; dominant LST by every metric |
| 4 | BTC Bitcoin | 183 | HOLD CORE | $1.67T | 95.7% | 1.05x | Digital gold with a large spot ETF complex and 94.5% supply mined. Store-of-value thesis intact, though ETF assets fell through 2026. |
| 5 | MKR Maker / Sky | 177 | HOLD CORE | - | - | - | $124M Q1 revenue. 2.7x gross P/S (~6.7x net). Buyback allocation cut from 75% to 7.5% of surplus in Mar 2026 to fund a $150M Solvency Reserve. Sky rebrand: about 81% of MKR already upgraded to SKY. |
| 6 | SOL Solana | 170 | HOLD | $68.57B | 92.7% | 1.08x | High-throughput L1 with dominant DEX volume and meme coin launchpad traction. Network reliability improved significantly post-2023. |
| 7 | GEOD GEODNET | 169 | HOLD | $137.0M | 46.2% | 2.16x | Revenue not declining: Q2 2026 $2.59M (+48% QoQ). ARR $7.3-9.5M. 80% burn Foundation-controlled (governance, not smart contract). ATH $0.3746 not $0.43. 20K+ stations, 150+ countries. P/S 9.9-14.4x (expensive vs Helium 3.1x). Deflationary crossover approaching post-Jun 2026 halving. |
| 8 | SYRUP Maple Finance | 168 | HOLD | $268.1M | 93.8% | 1.07x | Institutional private-credit leader with a record ~$2B loan book, a Kraken on-chain warehouse (Jun 25) and a Revolut listing (Apr 30, UK/EU). But the 1.6x price-to-fees pitch uses gross fees; the token keeps ~$12-13M revenue, so it trades ~14x. Core Foundation dispute settled in May 2026. |
| 9 | UNI Uniswap | 167 | HOLD | $4.91B | 62.5% | 1.6x | Fee switch live on 11+ chains. Protocol revenue $26-61M (P/S 57-73x). V4 on 18 chains, 2500+ hooks. 100M UNI burned but net inflationary (+1.43%/yr). BlackRock entered Feb 2026. a16z holds 41.5-55M UNI. $200M+ insider selling 2025. Unichain TVL $17.8-29.6M (not $532M). SEC safe harbor Apr 2026. |
| 9 | COW CoW Protocol | 167 | HOLD | $82.3M | 57.4% | 1.74x | Intent-based batch auction DEX. $87B vol 2025. P/S 3.1x. Net deflationary. Vesting complete. |
| 11 | LINK Chainlink | 165 | HOLD | $10.01B | 74.8% | 1.34x | 70% oracle dominance. DTCC Q4 2026. SOC 2 Type 2. $500M/yr treasury sell pressure. 2 ETFs live. |
| 12 | ETHFI Ether.fi | 162 | HOLD | $680.1M | 96.5% | 1.04x | $7.8B TVL on $350M mcap (22x TVL/MC). $50M buyback active. 84% circ. 250M token releases ahead. |
| 13 | PENDLE Pendle Finance | 160 | HOLD | $391.5M | 61.7% | 1.62x | DeFi's yield monopoly: 50-60% market share, $24.4M trailing rev, sPENDLE 80% buyback (9.3% yield). Fortune 2026 Innovators. Vietnam IFC w/ BlackRock/MS. 21Shares ETP live. Boros V3 $10B+ vol. All vesting complete. Net dollar-deflationary. |
| 14 | RETH Rocket Pool ETH | 159 | HOLD | $946.8M | 100% | 1x | Decentralized ETH liquid staking token from Rocket Pool; most trust-minimized LST with permissionless node operators |
| 15 | CBETH Coinbase Wrapped Staked ETH | 158 | HOLD | $484.5M | 44.3% | 2.26x | Coinbase's centralized ETH liquid staking token; simplest onramp but carries custodial risk and Coinbase counterparty exposure |
| 16 | AERO Aerodrome Finance | 157 | HOLD | $794.7M | 50.2% | 1.99x | Base's dominant DEX capturing ~60% of chain volume with real fee revenue and veAERO flywheel locking supply |
| 16 | MORPHO Morpho | 157 | HOLD | $1.75B | 70% | 1.43x | Infrastructure lending protocol with $6.4B TVL and $203M annualized fees but zero revenue to token holders, fee switch off, founder opposes activation |
| 18 | AAVE Aave | 156 | HOLD | $2.65B | 96.5% | 1.04x | KelpDAO $190-230M bad debt, 3 core team departures (ACI/BGD/Chaos), buybacks paused. But $142M rev, 55-63% share, V4+Umbrella live, SEC cleared. |
| 19 | VIRTUAL Virtuals Protocol | 151 | CAUTIOUS HOLD | $502.6M | 65.8% | 1.52x | AI agent launchpad on Base with 18K+ agents but revenue collapsed 96% ($225K/day peak to $8.9K/day). aGDP is vanity metric. 93% whale concentration. ERC-8183 with Ethereum Foundation is real moat signal |
| 19 | LQTY Liquity | 151 | HOLD | $23.3M | 98.8% | 1.01x | V2 is RE-deployment after Jan 2025 bug (same auditors didn't catch it). 99% circ. BOLD $30M (<0.01%). |
| 19 | JUP Jupiter | 151 | HOLD | $1.04B | 33.2% | 3.01x | S39 validated: Solana's DeFi superapp. 93.6% aggregator share, $2.9B TVL. Revenue declining -78% but net-zero emissions + vesting done. |
| 22 | CETUS Cetus Protocol | 147 | HOLD | $25.0M | 96.5% | 1.04x | Leading CLMM DEX on Sui with near-monopoly status; strong TVL growth as Sui network expansion accelerates |
| 23 | SUI Sui | 146 | HOLD | $4.63B | 41.2% | 2.43x | Move-language L1 with best TVL growth trajectory in 2025-2026. Strong DeFi traction but heavy vesting schedule is key risk. |
| 23 | LDO Lido DAO | 146 | HOLD | $353.8M | 83% | 1.21x | Dominant LST protocol at $21B TVL with real staking revenue; fee switch vote pending but token accrual still weak. |
| 25 | FLUID Fluid (Instadapp) | 145 | CAUTIOUS HOLD | $158.2M | 83.7% | 1.19x | Unique Smart Collateral/Debt DeFi primitive (39x capital efficiency). $12.66M rev trailing but $5.6M current run rate (declining -63%). Buybacks halted post-Resolv ($21M bad debt). TVL -92% from peak. P/S 6.8x trailing / 15.4x current. Zero inflation, 78.7% circ. Top-tier VCs (Pantera, Naval, Coinbase). 55% stablecoin swap share. |
| 25 | OKB OKB | 145 | HOLD | $2.75B | 100% | 1x | OKX exchange token. Supply permanently fixed at 21M since the August 2025 burn, with mint and burn functions disabled. |
| 27 | BNB BNB | 144 | HOLD | $102.38B | 66.6% | 1.5x | Binance exchange utility token with quarterly burns. Highly tied to Binance CEX health and regulatory outcome. |
| 28 | GMX GMX | 143 | HOLD | $84.3M | 79% | 1.27x | Protocol revenue ~$14M (not $42M total fees). Commodity perps live ($1.18B week-1). $20.86M buybacks. |
| 29 | DRIFT Drift Protocol | 142 | HOLD | $14.3M | 72.6% | 1.38x | Exploited for $286M on 1 April 2026 through a compromised admin key and offline since. TVL fell from about $550M to under $250M. Held roughly 35% of Solana perp DEX volume before the attack. |
| 30 | PAXG PAX Gold | 141 | HOLD | $1.79B | 99.7% | 1x | 1:1 gold-backed token. Each PAXG = 1 troy oz London Good Delivery gold. |
| 30 | SKY Sky (formerly Maker) | 141 | CAUTIOUS HOLD | $1.86B | 99.9% | 1x | Validated: DeFi revenue leader ($246M net, P/S 5.4x) but headline '$435M' is gross before $165M SSR payouts. Buybacks slashed 87% until ~Nov 2026. Net inflationary 4.4%/yr. TVL declining $7.5B→$6.0B. S&P B-. #3 stablecoin ($12.9B). Revenue real but token value accrual IMPAIRED. |
| 32 | CRV Curve Finance | 140 | HOLD | $552.7M | 51.9% | 1.93x | 44% of ETH DEX fee revenue is extraordinary. veCRV/Convex lock-in. ATH -96% (not -99.6%, illiquid spike). |
| 32 | AR Arweave | 140 | HOLD | $274.9M | 99.5% | 1.01x | Permanent data storage with one-time payment model. AO compute layer adds programmability. 65M+ items stored but token price lags data growth. |
| 34 | INJ Injective | 139 | CAUTIOUS HOLD | $727.9M | 100% | 1x | Finance-first L1 with aggressive burn mechanism and real derivatives volume. P/S ratio improving but TVL still modest vs valuation. |
| 35 | KMNO Kamino Finance | 138 | CAUTIOUS HOLD | $214.9M | 57.1% | 1.75x | S38 validated: #1 Solana lending, $3.2B TVL, $14.3M rev, but zero value accrual to KMNO. Excellent protocol, worthless token. |
| 35 | AVAX Avalanche | 138 | CAUTIOUS HOLD | $4.93B | 61.6% | 1.62x | Best institutional traction among alt-L1s (3 ETFs, BlackRock BUIDL over $900M, SEC commodity, FIFA World Cup, CME futures). Revenue weakness real ($767K/yr current against Hyperliquid's roughly $844M 2025 revenue). Subnet L1s complement, not cannibalize. |
| 37 | ENS Ethereum Name Service | 137 | CAUTIOUS HOLD | $269.1M | 42.3% | 2.37x | Ethereum's dominant naming system with $2M+ monthly protocol revenue and a fee switch already enabled |
| 37 | ACX Across Protocol | 137 | CAUTIOUS HOLD | $30.5M | 70.5% | 1.42x | Intent-based cross-chain bridge. Highest revenue-per-dollar-bridged. 100% fee buyback to stakers. |
| 39 | NEAR NEAR Protocol | 135 | CAUTIOUS HOLD | $6.64B | 100% | 1x | 43.7% of supply staked across 417 validators. TVL $185M (+58% since June). Buyback-issuance crossover claimed at revenue.near.org, gas fees still tiny. |
| 39 | BANANA Banana Gun | 135 | CAUTIOUS HOLD | $15.5M | 40.2% | 2.49x | Telegram trading bot with real revenue and buyback mechanism but entirely dependent on on-chain trading volume cycles |
| 39 | BGB Bitget Token | 135 | CAUTIOUS HOLD | $1.37B | 35% | 2.86x | Bitget exchange token. Quarterly buyback & burn. Copy trading platform. |
| 42 | ARB Arbitrum | 134 | CAUTIOUS HOLD | $1.25B | 67.9% | 1.47x | Largest Ethereum L2 by TVL with Arbitrum One and Nova chains. Real DeFi hub but token governance hasn't yet captured protocol value effectively. |
| 42 | JTO Jito | 134 | CAUTIOUS HOLD | $263.0M | 53% | 1.89x | Solana MEV and liquid staking with $2.8B TVL; jitoSOL growing fast but JTO governance has no direct fee accrual yet. |
| 44 | SAFE Safe (formerly Gnosis Safe) | 132 | CAUTIOUS HOLD | $84.0M | 78.3% | 1.28x | Token for the dominant smart-contract wallet securing $100B+ in assets, but governance token with minimal direct value accrual so far |
| 45 | SNX Synthetix | 130 | CAUTIOUS HOLD | $137.5M | 99.9% | 1x | Best tokenomics (zero inflation, 100% fee buyback, 99.7% circ) but losing perps war. sUSD at $0.74. |
| 46 | RAY Raydium | 129 | CAUTIOUS HOLD | $670.5M | 48.6% | 2.06x | Cyclical memecoin infrastructure. Revenue collapsed 76% from peak. PumpSwap forking the model. |
| 46 | OLAS Olas (Autonolas) | 129 | CAUTIOUS HOLD | $13.4M | 63.2% | 1.58x | Autonomous AI agent infrastructure with multi-chain deployment; technically deep but lost to Virtuals on narrative and accessibility |
| 46 | AKT Akash Network | 129 | CAUTIOUS HOLD | $210.6M | 76.8% | 1.3x | Decentralized GPU cloud marketplace with real revenue; GPU demand tailwind but AKT P/S stretched vs actual compute revenue. |
| 49 | GNO Gnosis | 128 | CAUTIOUS HOLD | $316.6M | 88% | 1.14x | Gnosis Chain validator token and Safe network governance token with real utility and Ethereum alignment, but niche chain and high price vs fundamentals |
| 49 | TAO Bittensor | 128 | CAUTIOUS HOLD | $3.29B | 54% | 1.85x | Decentralized AI network with 64 subnets; narrative-driven but real compute marketplace emerging; BTC-like emission schedule. |
| 51 | RENDER Render Network | 127 | CAUTIOUS HOLD | $1.05B | 80.5% | 1.24x | Decentralized GPU rendering marketplace correlated with the AI hype cycle. Real utility but valuation stretched vs actual render job revenue. |
| 51 | BERA Berachain | 127 | CAUTIOUS HOLD | $76.8M | 62.2% | 1.61x | Novel Proof-of-Liquidity L1 with highest post-launch TVL in history, but BERA token down 97.5% and PoL is untested long-term |
| 53 | LEO UNUS SED LEO | 126 | CAUTIOUS HOLD | $8.19B | 93.4% | 1.07x | Bitfinex/iFinex exchange token. Monthly buyback & burn from profits. |
| 54 | TRX TRON | 125 | CAUTIOUS HOLD | $31.81B | 100% | 1x | USDT settlement network with massive stablecoin volume. Real revenue but Justin Sun legal issues and centralized governance are persistent overhangs. |
| 54 | LIT Lighter | 125 | WATCH | $876.5M | 25% | 4x | ZK perp DEX, up sharply this week to a $534M cap. But farming revenue fell ~70% to ~$26-30M annualized, so P/S re-rated to a rich ~18-20x. New Jul 2026 buyback-and-burn + 6% staking target vs a Dec 2026 cliff that vests 50% of supply at ~13.9M LIT/month. |
| 56 | OP Optimism | 123 | CAUTIOUS HOLD | $273.9M | 53.5% | 1.87x | Ethereum L2 with Superchain vision and OP Stack powering Coinbase Base. Real sequencer revenue but massive token vesting schedule is the key headwind. |
| 56 | POL Polygon system Token | 123 | CAUTIOUS HOLD | $1.08B | 100% | 1x | Polygon's new staking and gas token replacing MATIC. AggLayer cross-chain aggregation is the core thesis but token vesting schedule is heavy. |
| 56 | CAKE PancakeSwap | 123 | CAUTIOUS HOLD | $698.0M | 79.6% | 1.26x | BSC's dominant DEX with $1.5B TVL and real fee revenue; aggressive CAKE burn ongoing but BNB network dependence limits upside. |
| 56 | LPT Livepeer | 123 | CAUTIOUS HOLD | $82.2M | 100% | 1x | Decentralized video transcoding network. Real compute demand from video platforms. |
| 56 | GT GateToken | 123 | CAUTIOUS HOLD | - | 87.8% | 1.14x | Gate.io exchange token. Quarterly buyback & burn. |
| 56 | ORCA Orca | 123 | CAUTIOUS HOLD | $167.2M | 60.8% | 1.64x | Concentrated liquidity DEX on Solana. Whirlpools with user-friendly UX. |
| 62 | HNT Helium | 122 | CAUTIOUS HOLD | $97.6M | 87.1% | 1.15x | Pioneer decentralized wireless network with real Solana migration complete; MOBILE/IOT subDAOs growing but HNT value accrual thin |
| 63 | GRT The Graph | 121 | CAUTIOUS HOLD | $297.6M | 94.2% | 1.06x | Web3 data indexing with 700+ subgraphs; real query fee revenue but P/S elevated and token inflation from indexer rewards dilutes holders. |
| 63 | XRP XRP | 121 | CAUTIOUS HOLD | $90.31B | 63.1% | 1.58x | Ripple's payment token with SEC case mostly resolved. Institutional cross-border payment rails narrative intact but XRPL DeFi negligible. |
| 63 | VELO Velodrome Finance | 121 | CAUTIOUS HOLD | $46.1M | 50.9% | 1.96x | Optimism's native DEX being cannibalized by Aerodrome on Base; V3 migration is make-or-break inflection |
| 63 | MAV Maverick Protocol | 121 | CAUTIOUS HOLD | $13.1M | 58.6% | 1.71x | Concentrated liquidity AMM with directional LP. Gas-efficient automated LP strategies. |
| 63 | VRTX Vertex Protocol | 121 | CAUTIOUS HOLD | - | 7.6% | 13.16x | Hybrid DEX combining spot, perps, and money markets on Arbitrum. |
| 68 | ENA Ethena | 120 | CAUTIOUS HOLD | $3.06B | 89.4% | 1.12x | USDe supply crashed 65% from $12B peak. BaFin banned under MiCA. Brutal vesting schedule. |
| 68 | TIA Celestia | 120 | CAUTIOUS HOLD | $432.0M | 83% | 1.21x | Modular DA layer with strong VC backing and developer traction; only 22% circulating means severe multi-year open dilution ahead. |
| 68 | CHZ Chiliz | 120 | CAUTIOUS HOLD | $165.6M | 100% | 1x | Sports fan token platform. Socios.com with 100+ sports teams. |
| 71 | COMP Compound | 119 | WATCH | $234.1M | 100% | 1x | OG DeFi lender with real protocol revenue but P/S ~112x makes valuation deeply stretched at current price. |
| 71 | PRIME Echelon Prime | 119 | WATCH | $14.8M | 57.8% | 1.73x | Parallel TCG gaming token. Backed by Paradigm. Active player base. |
| 71 | MNDE Marinade | 119 | WATCH | $15.6M | 54.6% | 1.83x | Largest Solana liquid staking protocol. mSOL for staked SOL. |
| 71 | KCS KuCoin Token | 119 | WATCH | - | 94.7% | 1.06x | KuCoin exchange token. Fee discounts, profit sharing, KCC gas. |
| 75 | STX Stacks | 118 | WATCH | $697.8M | 100% | 1x | Bitcoin L2 enabling smart contracts on Bitcoin. Nakamoto upgrade improved finality but TVL tiny and developer adoption slow vs Ethereum L2s. |
| 75 | WOO WOO Network | 118 | WATCH | $23.6M | 63% | 1.59x | Deep liquidity network connecting exchanges, traders, and DeFi platforms. |
| 77 | IMX Immutable X | 117 | WATCH | $156.3M | 45.2% | 2.21x | Web3 gaming ZK-rollup with major game studio partnerships; gaming L2 narrative still alive but token vesting pressure is severe |
| 77 | XMR Monero | 117 | WATCH | $10.41B | 100% | 1x | Privacy-focused L1. Ring signatures + stealth addresses. Not on Binance/Coinbase. |
| 77 | STG Stargate Finance | 117 | WATCH | $20.1M | 10.9% | 9.14x | LayerZero-native bridge. Unified liquidity pools for cross-chain swaps. |
| 77 | JOE Trader Joe | 117 | WATCH | $17.4M | 91.4% | 1.09x | Dominant DEX on Avalanche. Liquidity Book AMM with concentrated liquidity. |
| 81 | APT Aptos | 116 | WATCH | $652.3M | 41.5% | 2.41x | Move-language L1 from ex-Meta team with solid tech but massive vesting schedule dragging price. TVL growing but token inflation brutal. |
| 81 | GNS Gains Network | 116 | WATCH | $9.5M | 100% | 1x | 1.16x P/S but losing DEX war. 14-15M tokens burned (38%+ of initial). 97% circ/total. $113K volume. |
| 81 | QNT Quant | 116 | WATCH | $3.53B | 99.5% | 1x | Overledger cross-chain OS. Enterprise blockchain interop. UK/EU partnerships. |
| 84 | S Sonic (prev. Fantom) | 115 | WATCH | $154.2M | 100% | 1x | Fantom rebranded to Sonic with 10,000 TPS EVM chain; Andre Cronje back driving DeFi revival with fee monetization |
| 84 | ONDO Ondo Finance | 115 | WATCH | $2.27B | 48.7% | 2.05x | $3B RWA platform but ONDO token captures $0 revenue. 57.79% in one wallet. -73% in 12mo. |
| 84 | CFG Centrifuge | 115 | WATCH | - | - | - | Real-world asset financing on-chain. Tinlake pools for invoices and real estate. |
| 87 | KAS Kaspa | 114 | WATCH | $1.11B | 96.6% | 1.03x | Fastest PoW blockchain using GHOSTDAG DAG protocol; Bitcoin-aligned narrative with real hashrate growth but no smart contracts |
| 88 | ADA Cardano | 113 | WATCH | $9.57B | 83.4% | 1.2x | Academic-grade L1 with heavy research pedigree but minimal DeFi traction. Chang hard fork improved governance but TVL remains tiny. |
| 89 | HBAR Hedera | 112 | WATCH | $4.09B | 88% | 1.14x | Hashgraph consensus L1. Enterprise governance council (Google, IBM, Dell, FedEx, Accenture). Boeing exited in Feb 2025. |
| 89 | TNSR Tensor | 112 | WATCH | $27.8M | 74.3% | 1.35x | Leading Solana NFT marketplace and trading platform. Pro tools. |
| 91 | GRASS Grass | 111 | WATCH | $457.9M | 69.9% | 1.43x | Web scraping bandwidth marketplace that monetizes idle internet connections; interesting model but heavy vesting schedule and speculative revenue |
| 91 | YFI Yearn Finance | 111 | WATCH | $86.4M | 98.4% | 1.02x | DeFi yield aggregator OG with real protocol revenue, but YFI buybacks alone cannot support a $91M market cap as yields compress and competition intensifies |
| 91 | FTM Fantom | 111 | WATCH | - | - | - | DAG-based EVM L1. Sonic upgrade for sub-second finality. |
| 94 | TON Toncoin | 110 | WATCH | $4.02B | 53.6% | 1.86x | GRAM rebrand Jun 15. Telegram 1B MAU took direct control (MTONGA). TVL collapsed -91% ($56M). $61M/month Believers releases through Oct 2028. 1.08B frozen TON unfreezes Feb 2027. Stars onramp real but DeFi dead. |
| 94 | MATIC Polygon (Legacy) | 110 | WATCH | $1.08B | 100% | 1x | Legacy MATIC being migrated to POL token. Dual-listing confusion and migration uncertainty create selling pressure. See POL entry for current thesis. |
| 94 | KNC Kyber Network | 110 | WATCH | $28.1M | 83% | 1.21x | DEX aggregator and liquidity protocol. KyberSwap elastic pools. |
| 97 | FET Fetch.ai (ASI Alliance) | 109 | WATCH | $522.8M | 85.2% | 1.17x | ASI Alliance merger token (FET+AGIX+OCEAN). AI agent narrative intact but protocol revenue minimal and merger synergies unclear. |
| 97 | DYDX dYdX | 109 | WATCH | $113.2M | 84.6% | 1.18x | Leading perp DEX migrated to its own Cosmos chain; real $380M TVL and daily volume but token accrual to stakers unclear and releases persist. |
| 97 | BICO Biconomy | 109 | WATCH | $20.1M | 100% | 1x | Account abstraction infrastructure. Gasless transactions SDK. |
| 100 | IO io.net | 108 | WATCH | $63.1M | 51.3% | 1.95x | Decentralized GPU compute marketplace down 98.3% from ATH; real compute demand but token economics designed for insiders |
| 100 | PERP Perpetual Protocol | 108 | WATCH | $2.8M | 88.1% | 1.14x | Decentralized perp DEX on Optimism with vAMM model. |
| 100 | STORJ Storj | 108 | WATCH | $12.3M | 100% | 1x | Decentralized cloud storage. S3-compatible API for enterprise adoption. |
| 100 | ALCX Alchemix | 108 | WATCH | $6.6M | 78.9% | 1.27x | Self-repaying loans. Deposit collateral, borrow against future yield. |
| 100 | OM MANTRA | 108 | WATCH | $29.1M | 65.7% | 1.52x | RWA-focused L1. Regulatory-compliant tokenization. Middle East partnerships. |
| 100 | XLM Stellar | 108 | WATCH | $7.01B | 70.1% | 1.43x | Cross-border payments network. Stellar Development Foundation. MoneyGram partnership. |
| 106 | EIGEN EigenLayer | 107 | WATCH | $226.1M | 52.4% | 1.91x | Restaking pioneer with $5.8B TVL but 82% of tokens opening over 3 years creates extreme dilution headwind. |
| 106 | PYTH Pyth Network | 107 | WATCH | $557.2M | 78.7% | 1.27x | Cross-chain oracle with 500+ price feeds used by $100B+ DeFi TVL; but only 34.5% circulating and token value accrual to PYTH minimal. |
| 106 | VELA Vela Exchange | 107 | WATCH | - | 50% | 2x | Perpetual DEX on Arbitrum with low fees and deep liquidity. |
| 106 | GEL Gelato | 107 | WATCH | $498.0K | 67.1% | 1.49x | Web3 automation network. Smart contract execution as a service. |
| 110 | RUNE THORChain | 106 | PASS | $234.5M | 92.8% | 1.08x | Protocol halted 30 days. $10.8M exploit. $200M lending default. $1.2B Lazarus laundering. -98.2% ATH. Bug bounty killed. |
| 110 | SSV SSV Network | 106 | WATCH | $42.1M | 100% | 1x | DVT infrastructure for ETH staking with $3.2B validators secured; heavy vesting pressure and weak token accrual are red flags. |
| 110 | ZRO LayerZero | 106 | WATCH | $850.4M | 39.9% | 2.51x | $292M Kelp exploit destroyed trust. $4B fleeing to CCIP. May 20 open = 10% of float. |
| 110 | SLND Solend | 106 | WATCH | - | - | - | Algorithmic lending/borrowing on Solana. Largest Solana lending protocol. |
| 110 | GTC Gitcoin | 106 | WATCH | $15.9M | 87.5% | 1.14x | Public goods funding via quadratic funding. Gitcoin Passport identity. |
| 115 | THETA Theta Network | 105 | WATCH | $214.2M | 100% | 1x | Decentralized video CDN with Samsung and Google as validators. Real infrastructure but 93% below ATH reflects faded narrative and low token utility. |
| 115 | FXS Frax Share | 105 | WATCH | $28.3M | 93.9% | 1.06x | Governance token for the Frax stablecoin system rebranding to frxUSD, but FXS faces dilution from veFXS migration and loss of direct fee accrual |
| 115 | QUICK QuickSwap | 105 | WATCH | $7.0M | 65.6% | 1.52x | Dominant DEX on Polygon. Fork of Uniswap V3 with concentrated liquidity. |
| 118 | RPL Rocket Pool | 104 | WATCH | $40.8M | 100% | 1x | Decentralized ETH staking with ~$1.1B TVL but catastrophic price collapse; tokenomics restructure eliminated RPL value accrual. |
| 118 | PENGU Pudgy Penguins | 104 | WATCH | $535.4M | 70.7% | 1.41x | Meme/NFT brand token for Pudgy Penguins collection; high social proof and retail distribution via Walmart toys, but no protocol revenue and pure sentiment play |
| 118 | RDNT Radiant Capital | 104 | WATCH | $1.0M | 95.8% | 1.04x | Omnichain lending protocol on LayerZero. Cross-chain borrow/lend. |
| 118 | RON Ronin | 104 | WATCH | $49.1M | 77.2% | 1.29x | Axie Infinity sidechain. Gaming-focused EVM chain with Katana DEX. |
| 118 | MLN Enzyme (Melon) | 104 | WATCH | - | 100% | 1x | On-chain asset management protocol. Build and deploy DeFi funds. |
| 118 | RSR Reserve Rights | 104 | WATCH | $100.3M | 62.6% | 1.6x | Stablecoin protocol with RSR governance/insurance. RToken framework. |
| 124 | DOT Polkadot | 103 | WATCH | $1.88B | 81.3% | 1.23x | Cross-chain relay network struggling with parachain lease complexity. JAM upgrade promises unified computing but narrative has failed to stick. |
| 124 | CVX Convex Finance | 103 | WATCH | $193.9M | 93.2% | 1.07x | Curve vote-locking meta-protocol that captured the Curve Wars era but faces structural decline as veCRV yields compress and DeFi rotates away |
| 124 | KLAY Klaytn | 103 | WATCH | - | - | - | Kakao-backed Korean L1. Strong Korean market adoption. |
| 124 | KSM Kusama | 103 | WATCH | $90.6M | 100% | 1x | Polkadot canary network. Parachain auctions. Fast iteration testnet. |
| 124 | SHDW Shadow Token | 103 | WATCH | $5.3M | 100% | 1x | Solana-native decentralized storage. GenesysGo shdwDrive infrastructure. |
| 129 | LTC Litecoin | 102 | WATCH | $5.15B | 92.5% | 1.08x | Bitcoin's silver analog with third halving complete. No smart contracts, no DeFi, diminishing developer interest. Payments use case losing to stablecoins. |
| 129 | SCROLL Scroll | 102 | WATCH | $4.7M | 19% | 5.26x | EVM-equivalent ZK rollup with strong technical credibility but token launch timing terrible; massive releases ahead |
| 129 | ICP Internet Computer | 102 | WATCH | $1.75B | 100% | 1x | DFINITY's on-chain cloud computing with 99.6% ATH drawdown; technically new but massive inflation and insider overhang persist. |
| 129 | CRO Cronos | 102 | WATCH | $3.12B | 49.5% | 2.02x | Crypto.com EVM chain. CRO staking for exchange benefits. |
| 129 | TRU TrueFi | 102 | WATCH | $1.1M | 100% | 1x | Uncollateralized DeFi lending. Institutional credit protocol. |
| 129 | APE ApeCoin | 102 | WATCH | $146.9M | 100% | 1x | Bored Ape network token. ApeChain L3. Yuga Labs governance. |
| 135 | FIL Filecoin | 101 | WATCH | $867.2M | 42.6% | 2.35x | Decentralized storage with real utilization but massive FDV overhang. Storage demand growing but token price suppressed by large future releases. |
| 135 | ZEC Zcash | 101 | WATCH | $22.59B | 80.8% | 1.24x | Pioneer privacy coin with strong cryptography; Zcash halving occurred 2024 but Shielded supply has tripled since early 2024 to roughly 30%, though regulatory pressure and delistings persist. |
| 135 | VET VeChain | 101 | WATCH | $692.4M | 99.2% | 1.01x | Enterprise supply chain blockchain with real business adoption but no DeFi moat and dual-token complexity |
| 135 | ATH Aethir | 101 | WATCH | $132.9M | 47.9% | 2.09x | Decentralized GPU cloud for AI/gaming. Enterprise-grade compute infrastructure. |
| 135 | ILV Illuvium | 101 | WATCH | $31.5M | 86.3% | 1.16x | AAA open-world RPG with NFT creatures. Unreal Engine graphics. |
| 135 | MC Merit Circle (Beam) | 101 | WATCH | - | 100% | 1x | Gaming DAO and Beam chain. Gaming-focused L1 subnet on Avalanche. |
| 135 | DASH Dash | 101 | WATCH | $683.9M | 67.9% | 1.47x | Digital cash with InstantSend and PrivateSend. DAO treasury governance. |
| 135 | GMT STEPN | 101 | WATCH | $25.0M | 51.9% | 1.93x | Move-to-earn fitness app. Walk/run to earn crypto rewards. |
| 135 | AUDIO Audius | 101 | WATCH | $22.7M | 100% | 1x | Decentralized music streaming. Artists earn directly from listeners. |
| 144 | SEI Sei | 100 | WATCH | $457.3M | 67.3% | 1.49x | EVM+Cosmos parallel execution chain with fast finality. Sei V2 parallel EVM showed promising benchmarks but network capture lags Solana and Base. |
| 144 | CORE Core | 100 | WATCH | $29.2M | 71.4% | 1.4x | Bitcoin-staking L1 using Satoshi Plus consensus (PoW + DPoS); BTC staking TVL real but token severely diluted |
| 144 | BADGER BadgerDAO | 100 | WATCH | $6.4M | 92.9% | 1.08x | BTC-focused DeFi. Bridges BTC yield strategies to Ethereum. |
| 147 | USUAL Usual Protocol | 99 | PASS | $23.6M | 65% | 1.54x | USD0 stablecoin protocol with real-world asset backing, but collapsed 96% from ATH amid depeg fears and hyperinflationary tokenomics |
| 147 | API3 API3 | 99 | PASS | $45.0M | 78.7% | 1.27x | First-party oracle provider with OEV (Oracle Extractable Value) recapture mechanism, but adoption remains limited vs Chainlink's entrenched network effects |
| 147 | FLR Flare | 99 | PASS | $609.8M | 81.6% | 1.23x | Data-centric L1. Flare Time Series Oracle. Cross-chain state connector. |
| 150 | CFX Conflux | 98 | PASS | $265.8M | 100% | 1x | China's only regulatory-compliant public blockchain; government backing is unique moat but adoption outside China near zero |
| 150 | MINA Mina Protocol | 98 | PASS | $121.4M | 100% | 1x | 22KB constant-size blockchain using ZK proofs; elegant tech with minimal network adoption and severe inflation from staking rewards. |
| 150 | NMR Numeraire | 98 | PASS | $105.4M | 65.2% | 1.53x | AI hedge fund data science tournament. Staking for ML model performance. |
| 150 | HT Huobi Token | 98 | PASS | $16.3M | 21.9% | 4.57x | HTX exchange token. Fee discounts and staking rewards. |
| 150 | IOTX IoTeX | 98 | PASS | $34.2M | 94.4% | 1.06x | DePIN L1 for IoT devices. W3bstream middleware. MachineFi. |
| 155 | ALGO Algorand | 97 | PASS | $1.05B | 90.6% | 1.1x | Pure PoS L1 with 4-second finality and strong academic roots; TVL thin at $180M and network activity stagnant despite tech quality. |
| 155 | COTI COTI | 97 | PASS | $39.1M | 60.7% | 1.65x | Privacy-focused L2 with garbled circuits. V2 confidential computing. |
| 155 | SKL SKALE | 97 | PASS | $26.6M | 87.1% | 1.15x | Elastic sidechains for Ethereum. Zero gas fees for users. |
| 155 | ACH Alchemy Pay | 97 | PASS | - | - | - | Crypto-fiat payment gateway. On/off ramp for merchants and users. |
| 155 | REQ Request | 97 | PASS | $42.8M | 79.7% | 1.26x | Decentralized payment requests and invoicing. Crypto accounting. |
| 155 | RAD Radicle | 97 | PASS | $19.5M | 59.1% | 1.69x | Decentralized code collaboration. P2P GitHub alternative. |
| 161 | ORDI ORDI | 96 | PASS | $88.5M | 100% | 1x | First BRC-20 token on Bitcoin Ordinals; fully diluted meme with cultural value but zero protocol revenue or utility |
| 161 | ANKR Ankr Network | 96 | PASS | $46.1M | 100% | 1x | Web3 infrastructure provider offering RPC nodes and liquid staking, but ANKR token has weak value capture vs the business revenues it supports |
| 161 | POOL PoolTogether | 96 | PASS | $176.3K | 96.1% | 1.04x | No-loss prize savings protocol. Deposit stables, win prizes. |
| 161 | FLUX Flux | 96 | PASS | $191.3K | 100% | 1x | Decentralized cloud computing. 13K+ nodes. FluxOS for dApp deployment. |
| 161 | CTSI Cartesi | 96 | PASS | $27.7M | 95.3% | 1.05x | Linux rollups. Run full Linux programs as rollup computations. |
| 161 | ATOM Cosmos | 96 | PASS | $899.5M | 100% | 1x | Cosmos SDK #3 dev network globally but broken value accrual. $240K Hub TVL on $889M mcap. ICS revenue real but tiny ($526K/yr). Prop 848 inflation cap helps. Both cofounders gone. Named security in SEC lawsuits. |
| 167 | ZK ZKsync | 95 | PASS | $129.1M | 51.5% | 1.94x | ZK rollup with strong tech but catastrophic tokenomics; airdrop dump destroyed community trust and TVL collapsed 90%+ |
| 167 | BAL Balancer | 95 | PASS | $9.1M | 72.6% | 1.38x | Pioneer AMM with weighted pools and boosted pools, but hemorrhaging TVL to Uniswap V4 and newer competitors while BAL token has severe value accrual problems |
| 167 | ALPACA Alpaca Finance | 95 | PASS | $138.7K | 99.2% | 1.01x | Leveraged yield farming protocol on BNB Chain. |
| 167 | YGG Yield Guild Games | 95 | PASS | $22.5M | 90% | 1.11x | Gaming guild DAO. Scholar program for P2E game access. |
| 167 | INV Inverse Finance | 95 | PASS | $6.9M | 98% | 1.02x | DeFi lending with DOLA stablecoin. FiRM fixed-rate lending. |
| 167 | POLYX Polymesh | 95 | PASS | $52.9M | 100% | 1x | Purpose-built securities chain. Regulated security token issuance. |
| 173 | CELO Celo | 94 | PASS | $57.3M | 60.8% | 1.64x | Mobile-first L1 migrating to Ethereum L2 on OP Stack; migration complete but network traction and TVL extremely thin. |
| 173 | GLMR Moonbeam | 94 | PASS | $13.9M | 89.1% | 1.12x | EVM-compatible Polkadot parachain. Cross-chain interop via XCM. |
| 173 | RLC iExec | 94 | PASS | $61.1M | 100% | 1x | Decentralized cloud computing marketplace. Off-chain compute for dApps. |
| 173 | MX MEXC Token | 94 | PASS | - | 22.5% | 4.45x | MEXC exchange token. Trading fee discounts and holder benefits. |
| 177 | CKB Nervos Network | 93 | PASS | $61.4M | 98.3% | 1.02x | Bitcoin-compatible UTXO Layer 1 with RGB++ protocol enabling BTC-native assets; technically sound but tiny network |
| 177 | STRK Starknet | 93 | PASS | $366.4M | 74.2% | 1.35x | Technically superior ZK-STARK rollup but worst tokenomics in L2 sector; 98.9% down from ATH with years of releases remaining |
| 177 | 1INCH 1inch Network | 93 | PASS | $138.1M | 93.7% | 1.07x | DEX aggregator that pioneered intent-based routing but now faces commoditization from 0x, Paraswap, and native DEX aggregation within wallets |
| 177 | BONK Bonk | 93 | PASS | $300.8M | 100% | 1x | Solana's original dog meme coin with $480M market cap; massive community but zero fundamental revenue and pure sentiment-driven price action. |
| 177 | OSMO Osmosis | 93 | PASS | $26.6M | 79.1% | 1.26x | Cosmos DEX with heavy inflation and declining TVL dominance as IBC network fragments |
| 177 | PROP Propy | 93 | PASS | $35.2M | 100% | 1x | Real estate transaction automation. NFT property titles on-chain. |
| 177 | FARM Harvest Finance | 93 | PASS | $5.1M | 97.4% | 1.03x | Yield farming aggregator. Auto-compounds across DeFi protocols. |
| 184 | MOBILE Helium Mobile | 92 | PASS | $6.0M | 38.8% | 2.58x | Helium subDAO token for mobile network; extremely low liquidity and no direct value accrual beyond coverage reward emissions |
| 184 | W Wormhole | 92 | PASS | $93.6M | 65.9% | 1.52x | Cross-chain messaging with $45B+ cumulative bridge volume; only 18% circulating with devastating vesting schedule and no protocol revenue to token. |
| 184 | PEPE Pepe | 92 | PASS | $1.70B | 100% | 1x | Ethereum's largest meme coin at $1.6B market cap with massive liquidity; culturally entrenched but zero revenue and purely narrative-driven valuation. |
| 184 | MBOX MOBOX | 92 | PASS | $298.5K | 55% | 1.82x | GameFi platform combining yield farming and NFT gaming. |
| 184 | HOPR HOPR | 92 | PASS | $8.7M | 66.7% | 1.5x | Decentralized mixnet for data privacy. Network-layer privacy protocol. |
| 184 | SNT Status | 92 | PASS | $38.1M | 71% | 1.41x | Web3 messaging and browser. Waku privacy protocol. Keycard hardware. |
| 190 | ALPHA Alpha Venture DAO | 91 | PASS | $483.2K | 100% | 1x | DeFi network of leveraged yield products. Alpha Homora. |
| 190 | POND Marlin | 91 | PASS | $14.2M | 82.3% | 1.22x | High-performance network infrastructure. TEE coprocessors for DeFi. |
| 192 | TRB Tellor | 90 | PASS | $56.4M | 97.5% | 1.03x | Decentralized oracle. PoW-style dispute mechanism for price feeds. |
| 192 | CELR Celer Network | 90 | PASS | $22.9M | 79.2% | 1.26x | Cross-chain messaging and bridge protocol. cBridge for L2 transfers. |
| 192 | NANO Nano | 90 | PASS | $46.6M | 100% | 1x | Instant feeless payments. Block-lattice architecture. Fully distributed supply. |
| 192 | ETC Ethereum Classic | 90 | PASS | $1.32B | 75.3% | 1.33x | Original Ethereum chain. PoW consensus. Smart contract compatible. |
| 196 | WLD Worldcoin | 89 | PASS | $1.96B | 38% | 2.63x | Sam Altman-backed proof-of-personhood with global orb rollout but only 16.5% circulating; massive insider dilution incoming. |
| 196 | DOGE Dogecoin | 89 | PASS | $13.83B | 90.9% | 1.1x | Meme coin with infinite inflation and zero protocol revenue. Pure sentiment vehicle; Elon tweet exposure is both catalyst and risk. |
| 196 | ALICE My Neighbor Alice | 89 | PASS | $16.9M | 99.6% | 1x | Multiplayer farm game with blockchain assets. Accessible farming gameplay. |
| 199 | XTZ Tezos | 88 | PASS | $336.3M | 98.2% | 1.02x | Self-amending smart contract chain that pioneered on-chain governance; overtaken by faster-moving L1 and L2 alternatives |
| 199 | FLOKI FLOKI | 88 | PASS | $257.5M | 48.2% | 2.07x | Elon-inspired meme coin with NFT game Valhalla and token-based university; marketing-heavy but network revenue negligible vs $290M market cap. |
| 199 | WIF dogwifhat | 88 | PASS | $227.9M | 100% | 1x | Solana's top dog meme with fully diluted supply and $200M market cap; pure meme energy with no utility, revenue, or roadmap. |
| 199 | PEAQ peaq | 88 | PASS | $102.2M | 45.3% | 2.21x | DePIN-focused L1 on Polkadot. Machine economy infrastructure. |
| 199 | HIGH Highstreet | 88 | PASS | - | - | - | Commerce-centric metaverse. VR shopping with real brand products. |
| 199 | SXP Solar | 88 | PASS | $2.5M | 100% | 1x | DPoS blockchain formerly Swipe. Solar wallet and DEX network. |
| 199 | DENT Dent | 88 | PASS | $6.2M | 100% | 1x | Decentralized mobile data marketplace. eSIM and data trading. |
| 206 | BLAST Blast | 87 | PASS | $4.9M | 70.8% | 1.41x | Native yield L2 that briefly held $2B TVL via points farming but collapsed post-airdrop; tokenomics are broken |
| 206 | LEVER LeverFi | 87 | PASS | - | 100% | 1x | Leveraged trading protocol. Composable DeFi use. |
| 208 | NOS Nosana | 86 | PASS | $52.5M | 100% | 1x | Solana-native GPU inference network. CI/CD pipelines on decentralized compute. |
| 208 | GOG Guild of Guardians | 86 | PASS | $960.1K | 89.2% | 1.12x | Mobile RPG by Immutable. Blockchain gaming with tradeable heroes. |
| 208 | AGLD Adventure Gold | 86 | PASS | $18.0M | 96.7% | 1.03x | Loot NFT network token. Community-driven gaming DAO. |
| 208 | CANTO Canto | 86 | PASS | $2.0M | 60.8% | 1.64x | Free public infra L1. Built-in DEX, lending, stablecoin. No rent-seeking. |
| 212 | EGLD MultiversX (prev. Elrond) | 85 | PASS | $123.2M | 100% | 1x | Sharded Romanian L1 that rebranded to MultiversX; narrative exhausted with no meaningful DeFi or developer traction |
| 213 | ROSE Oasis Network | 84 | PASS | $62.0M | 80.4% | 1.24x | Privacy-focused L1 targeting confidential DeFi and data tokenization; thesis valid but adoption never arrived |
| 213 | BLUR Blur | 84 | PASS | $55.8M | 96.8% | 1.03x | NFT marketplace token that temporarily dominated OpenSea via airdrop-fueled volume incentives, but NFT market collapse and massive releases destroy the setup |
| 213 | FORTH Ampleforth Governance | 84 | PASS | $3.0M | 71.3% | 1.4x | AMPL governance token. Elastic supply stablecoin protocol. |
| 216 | MASK Mask Network | 82 | PASS | $45.8M | 100% | 1x | Browser extension for decentralized social media features that never achieved mainstream adoption; token has no revenue model |
| 216 | BOND BarnBridge | 82 | PASS | $93.5K | 100% | 1x | Risk tokenization protocol. Fixed-rate yield and tranching. |
| 218 | WAXP WAX | 81 | PASS | $26.9M | 100% | 1x | NFT-focused blockchain. Used for Alien Worlds and other play-to-earn. |
| 219 | KAVA Kava | 80 | PASS | $71.7M | 100% | 1x | EVM+Cosmos hybrid chain that failed to differentiate; stagnant TVL and minimal protocol revenue |
| 219 | PRCL Parcl | 80 | PASS | $5.5M | 90.7% | 1.1x | Real estate price indices on Solana. Trade city-level housing markets. |
| 221 | FLOW Flow | 78 | PASS | $53.4M | 100% | 1x | Dapper Labs chain built for NFTs (NBA TopShot); NFT market collapse destroyed its primary use case |
| 221 | LRC Loopring | 78 | PASS | $13.2M | 100% | 1x | Ethereum ZK-rollup DEX protocol that was first to market but lost the L2 race to Arbitrum, Optimism, and Base |
| 221 | IOTA IOTA | 78 | PASS | $248.2M | 93.6% | 1.07x | DAG-based IoT ledger that spent 6 years rebuilding its coordinator; fully diluted with no DeFi network |
| 224 | IDEX IDEX | 77 | PASS | $838.1K | 100% | 1x | Hybrid DEX combining orderbook and AMM models. |
| 225 | MANTA Manta Network | 76 | PASS | $31.1M | 48.2% | 2.07x | Privacy-focused L2 on both Polkadot and OP Stack that failed to differentiate; near-zero TVL and activity in 2026 |
| 225 | AXS Axie Infinity | 76 | PASS | $207.3M | 64.7% | 1.54x | Pioneer play-to-earn NFT game that spawned an entire sector but collapsed under its own Ponzi tokenomics; $625M Ronin bridge hack accelerated the death spiral |
| 225 | BTT BitTorrent | 76 | PASS | $357.4M | 99.7% | 1x | Decentralized file sharing incentive token on TRON/BitTorrent network. |
| 225 | MCB MCDEX | 76 | PASS | $8.9M | 79.2% | 1.26x | Decentralized perp exchange using AMM. MCDEX V3 on Arbitrum. |
| 229 | SUSHI SushiSwap | 74 | PASS | $66.7M | 98.4% | 1.02x | Once-prominent fork DEX that lost its narrative, its developers, and its users; no credible recovery path for the token |
| 229 | RVN Ravencoin | 74 | PASS | $36.1M | 78.6% | 1.27x | PoW L1 for asset tokenization. Bitcoin fork with asset issuance. |
| 231 | NOT Notcoin | 73 | PASS | $45.0M | 97% | 1.03x | Telegram tap-to-earn game token. 100% circulating supply means no open overhang but zero DeFi integration and massive user base already rewarded. |
| 231 | BAND Band Protocol | 73 | PASS | $40.8M | 99.9% | 1x | Alternative oracle network that briefly challenged Chainlink in 2020-2021 but has since been almost entirely displaced; no meaningful recovery signals |
| 231 | POPCAT Popcat | 73 | PASS | $46.9M | 100% | 1x | Pure Solana memecoin based on the Popcat internet meme; zero utility, zero revenue, 100% sentiment and market cycle exposure |
| 234 | MODE Mode Network | 72 | PASS | $666.9K | 83% | 1.2x | OP Stack L2 focused on DeFi yield aggregation; lost relevance post-airdrop with no unique differentiation from Base/Optimism |
| 235 | SHIB Shiba Inu | 71 | PASS | $3.17B | 100% | 1x | Meme coin with quadrillions of tokens and negligible DeFi. Shibarium L2 launched but sees minimal usage. Pure sentiment and retail speculation. |
| 236 | NEO Neo | 68 | PASS | $166.5M | 70.5% | 1.42x | Chinese Ethereum from 2017 with dual-token model (NEO+GAS); the 'smart economy' never materialized |
| 236 | RBN Ribbon Finance | 68 | PASS | $1.7M | 6.7% | 14.86x | Structured products protocol (covered calls, puts) that pioneered on-chain options vaults but has been rendered largely obsolete by Aevo and Lyra |
| 238 | SUPER SuperVerse | 67 | PASS | $144.5M | 65% | 1.54x | Rebranded SuperFarm gaming/NFT network with celebrity associations that never translated to user adoption; token structurally impaired |
| 238 | MOVE Movement | 67 | PASS | $40.6M | 45% | 2.22x | Move language L1 down 98.6% from ATH following market maker scandal and insider dumping; project credibility severely damaged |
| 238 | JASMY JasmyCoin | 67 | PASS | $243.3M | 98.9% | 1.01x | Japanese IoT data sovereignty project with Sony/NTT connections but zero DeFi integration, minimal real-world adoption, and 99.9% ATH drawdown |
| 241 | MANA Decentraland | 66 | PASS | $197.1M | 89.3% | 1.12x | Pioneer decentralized metaverse with DAO governance that peaked in 2021 hype; now averages under 1,000 concurrent users despite $165M market cap |
| 242 | ZIL Zilliqa | 63 | PASS | $64.9M | 92.9% | 1.08x | 2018-era sharding chain that lost the scalability race; GameFi pivot failed to gain traction |
| 242 | SPELL Spell Token | 63 | PASS | $16.0M | 81.7% | 1.22x | Governance token for Abracadabra Money (MIM stablecoin), permanently impaired by Wonderland scandal and UST contagion; no recovery path evident |
| 244 | DOGS DOGS | 62 | PASS | $22.6M | 94% | 1.06x | Telegram meme coin distributed via airdrop to community. No utility beyond speculation. Purely a TON network sentiment trade. |
| 245 | QTUM Qtum | 61 | PASS | $97.7M | 98.4% | 1.02x | 2017-era Bitcoin UTXO + Ethereum EVM hybrid; technically obsolete and network is a ghost town |
| 246 | SAND The Sandbox | 58 | PASS | $219.2M | 97.9% | 1.02x | -99.4% ATH. 4,500 DAU. Founders ousted. 50% layoffs. Staking dead. $312K daily vol. Metaverse narrative buried. |
| 247 | MEME Memecoin | 57 | PASS | $36.6M | 93.9% | 1.07x | Meta-meme token with no utility whatsoever. Exists purely as a narrative artifact. 83% below ATH with no recovery catalyst. |
| 248 | NEIRO NEIRO | 56 | PASS | $35.3M | 100% | 1x | Dog meme coin named after Kabosu's companion. Zero utility, zero revenue. Pure retail gambling with extreme manipulation risk. |
| 249 | GALA Gala Games | 53 | PASS | $114.2M | 100% | 1x | Gaming platform token down 99.6% from ATH; wracked by internal fraud allegations, token supply manipulation, and a gaming sector with no mass-market hits |
| 250 | KDA Kadena | 50 | PASS | $3.0M | 33.9% | 2.95x | PoW blockchain with 20-chain sharding that promised infinite scale; network is effectively dead |
| 251 | ONE Harmony | 48 | PASS | $32.9M | 100% | 1x | Sharded L1 permanently damaged by the $100M Horizon bridge hack; trust destroyed, network never recovered |
Dilution is eventual supply divided by circulating supply, derived from supply counts rather than from a fully diluted valuation, so it does not move with price. A 1x reading means the float is already complete.
07
Common questions
- What does the 25-variable altcoin scorecard measure?
- Each of 251 tokens is scored 1 to 10 on 25 separate variables grouped into six themes: cash flow (protocol revenue, revenue trend, P/S multiple, real staking yield), supply (inflation, vesting schedule, circulating to fully diluted ratio, buyback and burn), ownership (smart money flows, insider selling, holder concentration), traction (TVL trend, active users, developer activity, network growth), competitive position (market share, moat, institutional adoption, exchange depth, social mindshare) and risk (regulatory safety, catalyst calendar, BTC alpha, team execution, treasury runway). The composite is the sum, out of 250.
- How is a score of 7 on one token different from a 7 on another?
- On its own it is not, which is why every token page also carries the rank. A 7 that ranks 15th of 251 on protocol revenue is a genuinely scarce result; a 7 that ranks 140th on exchange depth is ordinary. Raw scores compress, ranks do not, so the per-variable rank against the whole universe is the number worth reading.
- What do the verdicts mean?
- PASS covers 106 tokens with a median composite of 88.5; WATCH covers 76 tokens with a median composite of 107; CAUTIOUS HOLD covers 39 tokens with a median composite of 128; HOLD covers 25 tokens with a median composite of 156; HOLD CORE covers 5 tokens with a median composite of 185. Verdicts follow the composite and the pattern of the underlying variables, not price action.
- How current is the data?
- Two clocks run here. The 25 scores come from the research pass dated 18 Sept 2026 and don't move with price. Everything price-derived, meaning price, market cap, supply, all-time high and the dilution arithmetic, is refetched from CoinGecko and was last pulled 7 Oct 2026, covering 243 of 251 tokens. The 8 we couldn't match to a live market row show no price at all rather than a stale one.
- Where does the dilution figure come from?
- Eventual supply divided by circulating supply, both from CoinGecko. It is deliberately not derived from a fully diluted valuation, because an FDV figure carries a price inside it and goes stale the moment the price moves. A 1x reading means the float is already complete.
Methodology
25-variable framework scoring 250 altcoins across protocol revenue, tokenomics, supply metrics, institutional adoption, regulatory safety, and more. Each variable rated 1-10 by 40+ parallel DeepSeek research agents. Data hardened via 19-agent deep validation sprint. Supply data from CoinGecko. Revenue cross-referenced with DeFiLlama/Token Terminal. Live prices from Binance, Bybit, Kraken, Crypto.com.
Market data from CoinGecko, fetched 7 Oct 2026 for 243 of 251 tokens. Research and analysis, not investment advice. Scores are one framework applied consistently across 251 tokens, not a prediction of price.