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 11 Jun 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 6 Aug 2026, covering 242 of 251 tokens. The 9 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.

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 11 Jun 2026. Composite range 48 to 193 out of 250.

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.

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.

Ethereum

115 tokens · median 104

Solana

25 tokens · median 107

Arbitrum

8 tokens · median 111.5

BNB Chain

5 tokens · median 95

Optimism

3 tokens · median 121

Polygon

3 tokens · median 110

Polkadot

3 tokens · median 103

TON

3 tokens · median 73

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.

Universe-wide distribution of each of the 25 scored variables
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

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.

All 251 rated tokens ordered by composite score
#	Token	Score	Verdict	Market cap	Circ	Dilution	Summary
1	HYPE Hyperliquid	193	HOLD CORE	$12.39B	22.2%	4.5x	3 ETFs live (THYP, BHYP, HYPG ~$160M AUM). $800M-$1.3B rev, 97-99% to buyback/burn. 70%+ DEX perps share. But closed-source, FCA warning, 22% circ.
2	ETH Ethereum	187	HOLD CORE	$230.80B	100%	1x	Institutional settlement layer. Commodity classification. Burn collapsed but moat intact.
3	WSTETH Wrapped Lido Staked ETH	185	HOLD CORE	$8.75B	100%	1x	Lido's wrapped staked ETH, the DeFi collateral standard with $26B TVL and native yield; dominant LST by every metric
4	BTC Bitcoin	183	HOLD CORE	$1.30T	95.6%	1.05x	Digital gold with spot ETF inflows and 94.5% supply mined. Unbeaten store-of-value thesis with sovereign adoption accelerating.
5	MKR Maker / Sky	177	HOLD CORE	-	-	-	$124M Q1 revenue. 2.7x gross P/S (~6.7x net). $96M buyback (in SKY, not MKR). Sky rebrand: 10.7% migration.
6	SOL Solana	170	HOLD	$42.63B	92%	1.09x	High-throughput L1 with dominant DEX volume and meme coin launchpad traction. Network reliability improved significantly post-2023.
7	GEOD GEODNET	169	HOLD	$82.5M	45.4%	2.2x	Revenue NOT declining: Q2 2026 $1.93M (+10% 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	-	93.5%	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 injunction unresolved.
9	UNI Uniswap	167	HOLD	$2.59B	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	$60.5M	57.5%	1.74x	Intent-based batch auction DEX. $87B vol 2025. P/S 3.1x. Net deflationary. Vesting complete.
11	LINK Chainlink	165	HOLD	$6.15B	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	$351.4M	97.3%	1.03x	$7.8B TVL on $350M mcap (22x TVL/MC). $50M buyback active. 84% circ. 250M token releases ahead.
13	PENDLE Pendle Finance	160	HOLD	$235.7M	61.1%	1.64x	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	$715.2M	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	$353.6M	43.6%	2.3x	Coinbase's centralized ETH liquid staking token; simplest onramp but carries custodial risk and Coinbase counterparty exposure
16	AERO Aerodrome Finance	157	HOLD	$428.1M	49.8%	2.01x	Base's dominant DEX capturing ~60% of chain volume with real fee revenue and veAERO flywheel locking supply
16	MORPHO Morpho	157	HOLD	$1.25B	65.6%	1.52x	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	$1.37B	96.4%	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	$377.6M	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	$18.1M	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	$607.7M	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	$16.7M	95.7%	1.05x	Leading CLMM DEX on Sui with near-monopoly status; strong TVL growth as Sui network expansion accelerates
23	SUI Sui	146	HOLD	$2.75B	40.7%	2.45x	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	$246.7M	83.6%	1.2x	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	$94.6M	78.7%	1.27x	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	$1.80B	100%	1x	OKX exchange token. Quarterly buyback & burn from gas fees.
27	BNB BNB	144	HOLD	$78.92B	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	$66.3M	78.9%	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	-	-	-	Most active perp DEX on Solana. v3 cross-margin launching June 2026. 35% Solana perp market share.
30	PAXG PAX Gold	141	HOLD	$1.88B	100%	1x	1:1 gold-backed token. Each PAXG = 1 troy oz London Good Delivery gold.
30	SKY Sky (formerly Maker)	141	CAUTIOUS HOLD	$1.32B	99.7%	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	$330.0M	51%	1.96x	44% of ETH DEX fee revenue is extraordinary. veCRV/Convex lock-in. ATH -96% (not -99.6%, illiquid spike).
32	AR Arweave	140	HOLD	$118.6M	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	$465.2M	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	$96.6M	52.4%	1.91x	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	$2.78B	60%	1.67x	Best institutional traction among alt-L1s (3 ETFs, BlackRock BUIDL $475M, SEC commodity, FIFA World Cup, CME futures). Revenue weakness real ($767K/yr current vs HYPE $694M = 905x gap). Subnet L1s complement, not cannibalize.
37	ENS Ethereum Name Service	137	CAUTIOUS HOLD	$172.8M	41%	2.44x	Ethereum's dominant naming system with $2M+ monthly protocol revenue and a fee switch already enabled
37	ACX Across Protocol	137	CAUTIOUS HOLD	$27.6M	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	$2.19B	100%	1x	46M MAU, $117M TVL. P/S 32-38x (not 290x, post-Intents revenue). AI Intents already live.
39	BANANA Banana Gun	135	CAUTIOUS HOLD	$14.1M	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	$1.13B	35%	2.86x	Bitget exchange token. Quarterly buyback & burn. Copy trading platform.
42	ARB Arbitrum	134	CAUTIOUS HOLD	$519.2M	66.1%	1.51x	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	$246.0M	50.7%	1.97x	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	$67.2M	76.7%	1.3x	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	$124.8M	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	$166.4M	48.5%	2.06x	Cyclical memecoin infrastructure. Revenue collapsed 76% from peak. PumpSwap forking the model.
46	OLAS Olas (Autonolas)	129	CAUTIOUS HOLD	$7.5M	61.6%	1.62x	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	$145.3M	76.3%	1.31x	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	$280.3M	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	$1.85B	45.7%	2.19x	Decentralized AI network with 64 subnets; narrative-driven but real compute marketplace emerging; BTC-like emission schedule.
51	RENDER Render Network	127	CAUTIOUS HOLD	$694.4M	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	$50.7M	56.9%	1.76x	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	$8.98B	93.4%	1.07x	Bitfinex/iFinex exchange token. Monthly buyback & burn from profits.
54	TRX TRON	125	CAUTIOUS HOLD	$31.06B	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	$559.2M	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	$198.9M	53.2%	1.88x	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	$799.2M	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	$451.3M	80.5%	1.24x	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	$63.3M	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	$65.9M	60.8%	1.64x	Concentrated liquidity DEX on Solana. Whirlpools with user-friendly UX.
62	HNT Helium	122	CAUTIOUS HOLD	$33.1M	81.5%	1.23x	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	$156.2M	100%	1x	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	$65.52B	62.5%	1.6x	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	$22.9M	49.6%	2.02x	Optimism's native DEX being cannibalized by Aerodrome on Base; V3 migration is make-or-break inflection
63	MAV Maverick Protocol	121	CAUTIOUS HOLD	$9.7M	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	$902.8M	65.5%	1.53x	USDe supply crashed 65% from $12B peak. BaFin banned under MiCA. Brutal vesting schedule.
68	TIA Celestia	120	CAUTIOUS HOLD	$315.2M	81.1%	1.23x	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	$135.8M	100%	1x	Sports fan token platform. Socios.com with 100+ sports teams.
71	COMP Compound	119	WATCH	$162.9M	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	$15.8M	56.2%	1.78x	Parallel TCG gaming token. Backed by Paradigm. Active player base.
71	MNDE Marinade	119	WATCH	$10.2M	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	$246.8M	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	$21.4M	63%	1.59x	Deep liquidity network connecting exchanges, traders, and DeFi platforms.
77	IMX Immutable X	117	WATCH	$222.1M	100%	1x	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	$6.84B	100%	1x	Privacy-focused L1. Ring signatures + stealth addresses. Not on Binance/Coinbase.
77	STG Stargate Finance	117	WATCH	$17.8M	14.1%	7.1x	LayerZero-native bridge. Unified liquidity pools for cross-chain swaps.
77	JOE Trader Joe	117	WATCH	$11.6M	91.4%	1.09x	Dominant DEX on Avalanche. Liquidity Book AMM with concentrated liquidity.
81	APT Aptos	116	WATCH	$499.0M	40.3%	2.48x	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	$11.9M	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	$869.9M	99.5%	1x	Overledger cross-chain OS. Enterprise blockchain interop. UK/EU partnerships.
84	S Sonic (prev. Fantom)	115	WATCH	$85.9M	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	$1.80B	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	$701.6M	96.2%	1.04x	Fastest PoW blockchain using GHOSTDAG DAG protocol; Bitcoin-aligned narrative with real hashrate growth but no smart contracts
88	ADA Cardano	113	WATCH	$7.57B	83%	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	$3.03B	87.6%	1.14x	Hashgraph consensus L1. Enterprise governance council (Google, IBM, Boeing).
89	TNSR Tensor	112	WATCH	$30.9M	100%	1x	Leading Solana NFT marketplace and trading platform. Pro tools.
91	GRASS Grass	111	WATCH	$203.2M	65.5%	1.53x	Web scraping bandwidth marketplace that monetizes idle internet connections; interesting model but heavy vesting schedule and speculative revenue
91	YFI Yearn Finance	111	WATCH	$75.2M	98.3%	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	$3.79B	52.4%	1.91x	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	$799.2M	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	$24.7M	95.5%	1.05x	DEX aggregator and liquidity protocol. KyberSwap elastic pools.
97	FET Fetch.ai (ASI Alliance)	109	WATCH	$304.5M	82.2%	1.22x	ASI Alliance merger token (FET+AGIX+OCEAN). AI agent narrative intact but protocol revenue minimal and merger synergies unclear.
97	DYDX dYdX	109	WATCH	$98.5M	84.9%	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	$37.4M	100%	1x	Account abstraction infrastructure. Gasless transactions SDK.
100	IO io.net	108	WATCH	$46.5M	47.3%	2.11x	Decentralized GPU compute marketplace down 98.3% from ATH; real compute demand but token economics designed for insiders
100	PERP Perpetual Protocol	108	WATCH	$2.9M	100%	1x	Decentralized perp DEX on Optimism with vAMM model.
100	STORJ Storj	108	WATCH	$19.3M	100%	1x	Decentralized cloud storage. S3-compatible API for enterprise adoption.
100	ALCX Alchemix	108	WATCH	$5.0M	79.8%	1.25x	Self-repaying loans. Deposit collateral, borrow against future yield.
100	OM MANTRA	108	WATCH	$30.0M	55.2%	1.81x	RWA-focused L1. Regulatory-compliant tokenization. Middle East partnerships.
100	XLM Stellar	108	WATCH	$5.56B	68.6%	1.46x	Cross-border payments network. Stellar Development Foundation. MoneyGram partnership.
106	EIGEN EigenLayer	107	WATCH	$133.4M	40.5%	2.47x	Restaking pioneer with $5.8B TVL but 82% of tokens opening over 3 years creates extreme dilution headwind.
106	PYTH Pyth Network	107	WATCH	$307.7M	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	$245.0K	67.1%	1.49x	Web3 automation network. Smart contract execution as a service.
110	RUNE THORChain	106	PASS	$150.5M	95.5%	1.05x	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	$29.9M	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	$295.5M	35.3%	2.83x	$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	$7.3M	87.5%	1.14x	Public goods funding via quadratic funding. Gitcoin Passport identity.
115	THETA Theta Network	105	WATCH	$136.3M	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	$29.0M	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	$5.4M	66.3%	1.51x	Dominant DEX on Polygon. Fork of Uniswap V3 with concentrated liquidity.
118	RPL Rocket Pool	104	WATCH	$35.1M	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	$388.1M	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	$668.7K	95.8%	1.04x	Omnichain lending protocol on LayerZero. Cross-chain borrow/lend.
118	RON Ronin	104	WATCH	$39.5M	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	$76.9M	62.6%	1.6x	Stablecoin protocol with RSR governance/insurance. RToken framework.
124	DOT Polkadot	103	WATCH	$1.40B	80.8%	1.24x	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	$151.5M	100%	1x	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	$58.3M	100%	1x	Polkadot canary network. Parachain auctions. Fast iteration testnet.
124	SHDW Shadow Token	103	WATCH	$2.7M	100%	1x	Solana-native decentralized storage. GenesysGo shdwDrive infrastructure.
129	LTC Litecoin	102	WATCH	$3.54B	92.2%	1.08x	Bitcoin's silver analog with fourth halving complete. No smart contracts, no DeFi, diminishing developer interest. Payments use case losing to stablecoins.
129	SCROLL Scroll	102	WATCH	$3.8M	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	$1.16B	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	$2.55B	47.3%	2.11x	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	$133.4M	100%	1x	Bored Ape network token. ApeChain L3. Yuga Labs governance.
135	FIL Filecoin	101	WATCH	$569.3M	41.8%	2.39x	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	$8.33B	79.9%	1.25x	Pioneer privacy coin with strong cryptography; Zcash halving occurred 2024 but Deshielding activity and regulatory pressure weigh heavily.
135	VET VeChain	101	WATCH	$402.5M	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	$81.9M	47.9%	2.09x	Decentralized GPU cloud for AI/gaming. Enterprise-grade compute infrastructure.
135	ILV Illuvium	101	WATCH	$25.1M	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	$389.0M	67.6%	1.48x	Digital cash with InstantSend and PrivateSend. DAO treasury governance.
135	GMT STEPN	101	WATCH	$21.1M	51.9%	1.93x	Move-to-earn fitness app. Walk/run to earn crypto rewards.
135	AUDIO Audius	101	WATCH	$17.7M	100%	1x	Decentralized music streaming. Artists earn directly from listeners.
144	SEI Sei	100	WATCH	$280.9M	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	$25.3M	59.4%	1.68x	Bitcoin-staking L1 using Satoshi Plus consensus (PoW + DPoS); BTC staking TVL real but token severely diluted
144	BADGER BadgerDAO	100	WATCH	$7.5M	100%	1x	BTC-focused DeFi. Bridges BTC yield strategies to Ethereum.
147	USUAL Usual Protocol	99	PASS	$15.9M	61.9%	1.61x	USD0 stablecoin protocol with real-world asset backing, but collapsed 96% from ATH amid depeg fears and hyperinflationary tokenomics
147	API3 API3	99	PASS	$27.4M	80.8%	1.24x	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	$521.1M	81.7%	1.22x	Data-centric L1. Flare Time Series Oracle. Cross-chain state connector.
150	CFX Conflux	98	PASS	$205.1M	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	$52.9M	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	$61.4M	64.4%	1.55x	AI hedge fund data science tournament. Staking for ML model performance.
150	HT Huobi Token	98	PASS	$9.6M	21.9%	4.57x	HTX exchange token. Fee discounts and staking rewards.
150	IOTX IoTeX	98	PASS	$21.3M	94.4%	1.06x	DePIN L1 for IoT devices. W3bstream middleware. MachineFi.
155	ALGO Algorand	97	PASS	$793.0M	90.2%	1.11x	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	$44.6M	60.5%	1.65x	Privacy-focused L2 with garbled circuits. V2 confidential computing.
155	SKL SKALE	97	PASS	$21.9M	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	$50.8M	99.9%	1x	Decentralized payment requests and invoicing. Crypto accounting.
155	RAD Radicle	97	PASS	$20.6M	100%	1x	Decentralized code collaboration. P2P GitHub alternative.
161	ORDI ORDI	96	PASS	$70.2M	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	$35.0M	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	$331.4K	100%	1x	No-loss prize savings protocol. Deposit stables, win prizes.
161	FLUX Flux	96	PASS	$118.0K	99.9%	1x	Decentralized cloud computing. 13K+ nodes. FluxOS for dApp deployment.
161	CTSI Cartesi	96	PASS	$31.5M	93.2%	1.07x	Linux rollups. Run full Linux programs as rollup computations.
161	ATOM Cosmos	96	PASS	$705.9M	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	$81.3M	48.1%	2.08x	ZK rollup with strong tech but catastrophic tokenomics; airdrop dump destroyed community trust and TVL collapsed 90%+
167	BAL Balancer	95	PASS	$7.9M	75.3%	1.33x	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	$90.7K	80.7%	1.24x	Leveraged yield farming protocol on BNB Chain.
167	YGG Yield Guild Games	95	PASS	$18.7M	100%	1x	Gaming guild DAO. Scholar program for P2E game access.
167	INV Inverse Finance	95	PASS	$6.6M	97.7%	1.02x	DeFi lending with DOLA stablecoin. FiRM fixed-rate lending.
167	POLYX Polymesh	95	PASS	$42.5M	100%	1x	Purpose-built securities chain. Regulated security token issuance.
173	CELO Celo	94	PASS	$37.0M	60.5%	1.65x	Mobile-first L1 migrating to Ethereum L2 on OP Stack; migration complete but network traction and TVL extremely thin.
173	GLMR Moonbeam	94	PASS	$10.3M	97%	1.03x	EVM-compatible Polkadot parachain. Cross-chain interop via XCM.
173	RLC iExec	94	PASS	$24.0M	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	$41.1M	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	$177.9M	68.1%	1.47x	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	$117.5M	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	$243.5M	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	$22.2M	78.4%	1.28x	Cosmos DEX with heavy inflation and declining TVL dominance as IBC network fragments
177	PROP Propy	93	PASS	$35.3M	100%	1x	Real estate transaction automation. NFT property titles on-chain.
177	FARM Harvest Finance	93	PASS	$3.5M	97.4%	1.03x	Yield farming aggregator. Auto-compounds across DeFi protocols.
184	MOBILE Helium Mobile	92	PASS	$5.1M	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	$52.0M	62.5%	1.6x	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	$1.18B	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	$351.3K	55%	1.82x	GameFi platform combining yield farming and NFT gaming.
184	HOPR HOPR	92	PASS	$8.2M	66.6%	1.5x	Decentralized mixnet for data privacy. Network-layer privacy protocol.
184	SNT Status	92	PASS	$38.6M	100%	1x	Web3 messaging and browser. Waku privacy protocol. Keycard hardware.
190	ALPHA Alpha Venture DAO	91	PASS	$502.4K	98.7%	1.01x	DeFi network of leveraged yield products. Alpha Homora.
190	POND Marlin	91	PASS	$6.0M	82.3%	1.22x	High-performance network infrastructure. TEE coprocessors for DeFi.
192	TRB Tellor	90	PASS	$38.4M	97.2%	1.03x	Decentralized oracle. PoW-style dispute mechanism for price feeds.
192	CELR Celer Network	90	PASS	$17.5M	100%	1x	Cross-chain messaging and bridge protocol. cBridge for L2 transfers.
192	NANO Nano	90	PASS	$53.1M	100%	1x	Instant feeless payments. Block-lattice architecture. Fully distributed supply.
192	ETC Ethereum Classic	90	PASS	$1.01B	74.9%	1.34x	Original Ethereum chain. PoW consensus. Smart contract compatible.
196	WLD Worldcoin	89	PASS	$1.09B	35.8%	2.79x	Sam Altman-backed proof-of-personhood with global orb rollout but only 16.5% circulating; massive insider dilution incoming.
196	DOGE Dogecoin	89	PASS	$10.73B	100%	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	$12.2M	99.5%	1.01x	Multiplayer farm game with blockchain assets. Accessible farming gameplay.
199	XTZ Tezos	88	PASS	$221.8M	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	$199.4M	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	$140.0M	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	$43.3M	42.4%	2.36x	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	$1.7M	100%	1x	DPoS blockchain formerly Swipe. Solar wallet and DEX network.
199	DENT Dent	88	PASS	$2.7M	100%	1x	Decentralized mobile data marketplace. eSIM and data trading.
206	BLAST Blast	87	PASS	$16.2M	66.8%	1.5x	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	$25.8M	100%	1x	Solana-native GPU inference network. CI/CD pipelines on decentralized compute.
208	GOG Guild of Guardians	86	PASS	$1.1M	100%	1x	Mobile RPG by Immutable. Blockchain gaming with tradeable heroes.
208	AGLD Adventure Gold	86	PASS	$14.4M	96.7%	1.03x	Loot NFT network token. Community-driven gaming DAO.
208	CANTO Canto	86	PASS	$536.4K	60.8%	1.64x	Free public infra L1. Built-in DEX, lending, stablecoin. No rent-seeking.
212	EGLD MultiversX (prev. Elrond)	85	PASS	$85.5M	100%	1x	Sharded Romanian L1 that rebranded to MultiversX; narrative exhausted with no meaningful DeFi or developer traction
213	ROSE Oasis Network	84	PASS	$45.4M	79.3%	1.26x	Privacy-focused L1 targeting confidential DeFi and data tokenization; thesis valid but adoption never arrived
213	BLUR Blur	84	PASS	$39.9M	95.3%	1.05x	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	$2.2M	70%	1.43x	AMPL governance token. Elastic supply stablecoin protocol.
216	MASK Mask Network	82	PASS	$35.8M	100%	1x	Browser extension for decentralized social media features that never achieved mainstream adoption; token has no revenue model
216	BOND BarnBridge	82	PASS	$310.5K	100%	1x	Risk tokenization protocol. Fixed-rate yield and tranching.
218	WAXP WAX	81	PASS	$17.9M	100%	1x	NFT-focused blockchain. Used for Alien Worlds and other play-to-earn.
219	KAVA Kava	80	PASS	$43.8M	100%	1x	EVM+Cosmos hybrid chain that failed to differentiate; stagnant TVL and minimal protocol revenue
219	PRCL Parcl	80	PASS	$6.1M	100%	1x	Real estate price indices on Solana. Trade city-level housing markets.
221	FLOW Flow	78	PASS	$45.5M	100%	1x	Dapper Labs chain built for NFTs (NBA TopShot); NFT market collapse destroyed its primary use case
221	LRC Loopring	78	PASS	$14.3M	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	$156.5M	92.5%	1.08x	DAG-based IoT ledger that spent 6 years rebuilding its coordinator; fully diluted with no DeFi network
224	IDEX IDEX	77	PASS	$974.0K	100%	1x	Hybrid DEX combining orderbook and AMM models.
225	MANTA Manta Network	76	PASS	$28.0M	47.8%	2.09x	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	$155.6M	64.6%	1.55x	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	$259.6M	99.7%	1x	Decentralized file sharing incentive token on TRON/BitTorrent network.
225	MCB MCDEX	76	PASS	$8.1M	79.2%	1.26x	Decentralized perp exchange using AMM. MCDEX V3 on Arbitrum.
229	SUSHI SushiSwap	74	PASS	$48.1M	100%	1x	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	$58.6M	78%	1.28x	PoW L1 for asset tokenization. Bitcoin fork with asset issuance.
231	NOT Notcoin	73	PASS	$35.1M	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	$28.8M	100%	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	$42.6M	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	$331.2K	77.3%	1.29x	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	$2.78B	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	$130.7M	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	$1.3M	6.7%	14.84x	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	$54.3M	64%	1.56x	Rebranded SuperFarm gaming/NFT network with celebrity associations that never translated to user adoption; token structurally impaired
238	MOVE Movement	67	PASS	$31.4M	41.7%	2.4x	Move language L1 down 98.6% from ATH following market maker scandal and insider dumping; project credibility severely damaged
238	JASMY JasmyCoin	67	PASS	$204.3M	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	$129.7M	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	$50.8M	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	$13.5M	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	$18.3M	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	$69.1M	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	$123.7M	100%	1x	-99.4% ATH. 4,500 DAU. Founders ousted. 50% layoffs. Staking dead. $312K daily vol. Metaverse narrative buried.
247	MEME Memecoin	57	PASS	$32.2M	93%	1.08x	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	$26.5M	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	$87.6M	98.5%	1.02x	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	$1.3M	33.9%	2.95x	PoW blockchain with 20-chain sharding that promised infinite scale; network is effectively dead
251	ONE Harmony	48	PASS	$18.5M	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.

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 11 Jun 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 6 Aug 2026, covering 242 of 251 tokens. The 9 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 6 Aug 2026 for 242 of 251 tokens. Research and analysis, not investment advice. Scores are one framework applied consistently across 251 tokens, not a prediction of price.