Ethereum tokens by fundamentals
The 115 Ethereum tokens carrying a full 25-variable score, ranked against the whole 251-token universe.
115 of 251 rated tokens (46%). Scoring pass 18 Sept 2026.
Tokens
115
Median score
104
of 250
Best
187
ETH
Weakest
53
GALA
01
What this group has in common
These are the 115 tokens issued on Ethereum that carry a full 25-variable score, 46% of the rated universe. Grouping by chain surfaces something a single token page cannot: tokens sharing a settlement layer tend to share its constraints, its regulatory treatment and its liquidity conditions, so the variables where this group collectively wins or loses say as much about Ethereum as they do about any individual token on it. The median composite here is 104 of 250, against a range of 53 to 187.
Collectively strongest on
- Circulating / FDV Ratio5.97
- Vesting Schedule5.48
- Regulatory Safety5.43
Collectively weakest on
- Buyback and Burn3.2
- BTC Alpha Potential3.37
- Real Staking Yield3.57
Figures are the mean 1-to-10 score across all 115 members of the group, so they describe the group as a whole rather than any single token.
02
Ranked members
Ordered by composite score. The rank column is the position across the whole 251-token universe, not within this group, so it shows where each member stands against everything else that was rated.
| Rank | Token | Score | Verdict | Market cap | Dilution | Summary |
|---|---|---|---|---|---|---|
| 2 | ETH Ethereum | 187 | HOLD CORE | $313.17B | 1x | Institutional settlement layer. Commodity classification. Burn collapsed but moat intact. |
| 3 | WSTETH Wrapped Lido Staked ETH | 185 | HOLD CORE | $11.76B | 1x | Lido's wrapped staked ETH, the DeFi collateral standard with about $17.7B TVL and native yield; dominant LST by every metric |
| 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. |
| 8 | SYRUP Maple Finance | 168 | HOLD | $268.1M | 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 | 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 | 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 | 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 | 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 | 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 | 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 | 2.26x | Coinbase's centralized ETH liquid staking token; simplest onramp but carries custodial risk and Coinbase counterparty exposure |
| 16 | MORPHO Morpho | 157 | HOLD | $1.75B | 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 | 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 | LQTY Liquity | 151 | HOLD | $23.3M | 1.01x | V2 is RE-deployment after Jan 2025 bug (same auditors didn't catch it). 99% circ. BOLD $30M (<0.01%). |
| 23 | LDO Lido DAO | 146 | HOLD | $353.8M | 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 | 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. |
| 30 | PAXG PAX Gold | 141 | HOLD | $1.79B | 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 | 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 | 1.93x | 44% of ETH DEX fee revenue is extraordinary. veCRV/Convex lock-in. ATH -96% (not -99.6%, illiquid spike). |
| 37 | ENS Ethereum Name Service | 137 | CAUTIOUS HOLD | $269.1M | 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 | 1.42x | Intent-based cross-chain bridge. Highest revenue-per-dollar-bridged. 100% fee buyback to stakers. |
| 39 | BGB Bitget Token | 135 | CAUTIOUS HOLD | $1.37B | 2.86x | Bitget exchange token. Quarterly buyback & burn. Copy trading platform. |
| 44 | SAFE Safe (formerly Gnosis Safe) | 132 | CAUTIOUS HOLD | $84.0M | 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 | 1x | Best tokenomics (zero inflation, 100% fee buyback, 99.7% circ) but losing perps war. sUSD at $0.74. |
| 46 | OLAS Olas (Autonolas) | 129 | CAUTIOUS HOLD | $13.4M | 1.58x | Autonomous AI agent infrastructure with multi-chain deployment; technically deep but lost to Virtuals on narrative and accessibility |
| 49 | GNO Gnosis | 128 | CAUTIOUS HOLD | $316.6M | 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 |
| 51 | RENDER Render Network | 127 | CAUTIOUS HOLD | $1.05B | 1.24x | Decentralized GPU rendering marketplace correlated with the AI hype cycle. Real utility but valuation stretched vs actual render job revenue. |
| 53 | LEO UNUS SED LEO | 126 | CAUTIOUS HOLD | $8.19B | 1.07x | Bitfinex/iFinex exchange token. Monthly buyback & burn from profits. |
| 54 | LIT Lighter | 125 | WATCH | $876.5M | 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 | LPT Livepeer | 123 | CAUTIOUS HOLD | $82.2M | 1x | Decentralized video transcoding network. Real compute demand from video platforms. |
| 56 | GT GateToken | 123 | CAUTIOUS HOLD | - | 1.14x | Gate.io exchange token. Quarterly buyback & burn. |
| 63 | GRT The Graph | 121 | CAUTIOUS HOLD | $297.6M | 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 | MAV Maverick Protocol | 121 | CAUTIOUS HOLD | $13.1M | 1.71x | Concentrated liquidity AMM with directional LP. Gas-efficient automated LP strategies. |
| 68 | ENA Ethena | 120 | CAUTIOUS HOLD | $3.06B | 1.12x | USDe supply crashed 65% from $12B peak. BaFin banned under MiCA. Brutal vesting schedule. |
| 71 | COMP Compound | 119 | WATCH | $234.1M | 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 | 1.73x | Parallel TCG gaming token. Backed by Paradigm. Active player base. |
| 75 | WOO WOO Network | 118 | WATCH | $23.6M | 1.59x | Deep liquidity network connecting exchanges, traders, and DeFi platforms. |
| 77 | IMX Immutable X | 117 | WATCH | $156.3M | 2.21x | Web3 gaming ZK-rollup with major game studio partnerships; gaming L2 narrative still alive but token vesting pressure is severe |
| 77 | STG Stargate Finance | 117 | WATCH | $20.1M | 9.14x | LayerZero-native bridge. Unified liquidity pools for cross-chain swaps. |
| 81 | QNT Quant | 116 | WATCH | $3.53B | 1x | Overledger cross-chain OS. Enterprise blockchain interop. UK/EU partnerships. |
| 84 | ONDO Ondo Finance | 115 | WATCH | $2.27B | 2.05x | $3B RWA platform but ONDO token captures $0 revenue. 57.79% in one wallet. -73% in 12mo. |
| 91 | GRASS Grass | 111 | WATCH | $457.9M | 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 | 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 |
| 94 | KNC Kyber Network | 110 | WATCH | $28.1M | 1.21x | DEX aggregator and liquidity protocol. KyberSwap elastic pools. |
| 97 | FET Fetch.ai (ASI Alliance) | 109 | WATCH | $522.8M | 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 | 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 | 1x | Account abstraction infrastructure. Gasless transactions SDK. |
| 100 | IO io.net | 108 | WATCH | $63.1M | 1.95x | Decentralized GPU compute marketplace down 98.3% from ATH; real compute demand but token economics designed for insiders |
| 100 | STORJ Storj | 108 | WATCH | $12.3M | 1x | Decentralized cloud storage. S3-compatible API for enterprise adoption. |
| 100 | ALCX Alchemix | 108 | WATCH | $6.6M | 1.27x | Self-repaying loans. Deposit collateral, borrow against future yield. |
| 106 | EIGEN EigenLayer | 107 | WATCH | $226.1M | 1.91x | Restaking pioneer with $5.8B TVL but 82% of tokens opening over 3 years creates extreme dilution headwind. |
| 106 | GEL Gelato | 107 | WATCH | $498.0K | 1.49x | Web3 automation network. Smart contract execution as a service. |
| 110 | SSV SSV Network | 106 | WATCH | $42.1M | 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 | 2.51x | $292M Kelp exploit destroyed trust. $4B fleeing to CCIP. May 20 open = 10% of float. |
| 110 | GTC Gitcoin | 106 | WATCH | $15.9M | 1.14x | Public goods funding via quadratic funding. Gitcoin Passport identity. |
| 115 | FXS Frax Share | 105 | WATCH | $28.3M | 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 |
| 118 | RPL Rocket Pool | 104 | WATCH | $40.8M | 1x | Decentralized ETH staking with ~$1.1B TVL but catastrophic price collapse; tokenomics restructure eliminated RPL value accrual. |
| 118 | MLN Enzyme (Melon) | 104 | WATCH | - | 1x | On-chain asset management protocol. Build and deploy DeFi funds. |
| 118 | RSR Reserve Rights | 104 | WATCH | $100.3M | 1.6x | Stablecoin protocol with RSR governance/insurance. RToken framework. |
| 124 | CVX Convex Finance | 103 | WATCH | $193.9M | 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 |
| 129 | TRU TrueFi | 102 | WATCH | $1.1M | 1x | Uncollateralized DeFi lending. Institutional credit protocol. |
| 129 | APE ApeCoin | 102 | WATCH | $146.9M | 1x | Bored Ape network token. ApeChain L3. Yuga Labs governance. |
| 135 | ILV Illuvium | 101 | WATCH | $31.5M | 1.16x | AAA open-world RPG with NFT creatures. Unreal Engine graphics. |
| 144 | BADGER BadgerDAO | 100 | WATCH | $6.4M | 1.08x | BTC-focused DeFi. Bridges BTC yield strategies to Ethereum. |
| 147 | USUAL Usual Protocol | 99 | PASS | $23.6M | 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 | 1.27x | First-party oracle provider with OEV (Oracle Extractable Value) recapture mechanism, but adoption remains limited vs Chainlink's entrenched network effects |
| 150 | NMR Numeraire | 98 | PASS | $105.4M | 1.53x | AI hedge fund data science tournament. Staking for ML model performance. |
| 155 | COTI COTI | 97 | PASS | $39.1M | 1.65x | Privacy-focused L2 with garbled circuits. V2 confidential computing. |
| 155 | SKL SKALE | 97 | PASS | $26.6M | 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 | 1.26x | Decentralized payment requests and invoicing. Crypto accounting. |
| 155 | RAD Radicle | 97 | PASS | $19.5M | 1.69x | Decentralized code collaboration. P2P GitHub alternative. |
| 161 | ANKR Ankr Network | 96 | PASS | $46.1M | 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 | 1.04x | No-loss prize savings protocol. Deposit stables, win prizes. |
| 161 | CTSI Cartesi | 96 | PASS | $27.7M | 1.05x | Linux rollups. Run full Linux programs as rollup computations. |
| 167 | BAL Balancer | 95 | PASS | $9.1M | 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 | YGG Yield Guild Games | 95 | PASS | $22.5M | 1.11x | Gaming guild DAO. Scholar program for P2E game access. |
| 167 | INV Inverse Finance | 95 | PASS | $6.9M | 1.02x | DeFi lending with DOLA stablecoin. FiRM fixed-rate lending. |
| 173 | RLC iExec | 94 | PASS | $61.1M | 1x | Decentralized cloud computing marketplace. Off-chain compute for dApps. |
| 173 | MX MEXC Token | 94 | PASS | - | 4.45x | MEXC exchange token. Trading fee discounts and holder benefits. |
| 177 | 1INCH 1inch Network | 93 | PASS | $138.1M | 1.07x | DEX aggregator that pioneered intent-based routing but now faces commoditization from 0x, Paraswap, and native DEX aggregation within wallets |
| 177 | PROP Propy | 93 | PASS | $35.2M | 1x | Real estate transaction automation. NFT property titles on-chain. |
| 177 | FARM Harvest Finance | 93 | PASS | $5.1M | 1.03x | Yield farming aggregator. Auto-compounds across DeFi protocols. |
| 184 | PEPE Pepe | 92 | PASS | $1.70B | 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 | HOPR HOPR | 92 | PASS | $8.7M | 1.5x | Decentralized mixnet for data privacy. Network-layer privacy protocol. |
| 184 | SNT Status | 92 | PASS | $38.1M | 1.41x | Web3 messaging and browser. Waku privacy protocol. Keycard hardware. |
| 190 | ALPHA Alpha Venture DAO | 91 | PASS | $483.2K | 1x | DeFi network of leveraged yield products. Alpha Homora. |
| 190 | POND Marlin | 91 | PASS | $14.2M | 1.22x | High-performance network infrastructure. TEE coprocessors for DeFi. |
| 192 | TRB Tellor | 90 | PASS | $56.4M | 1.03x | Decentralized oracle. PoW-style dispute mechanism for price feeds. |
| 192 | CELR Celer Network | 90 | PASS | $22.9M | 1.26x | Cross-chain messaging and bridge protocol. cBridge for L2 transfers. |
| 196 | WLD Worldcoin | 89 | PASS | $1.96B | 2.63x | Sam Altman-backed proof-of-personhood with global orb rollout but only 16.5% circulating; massive insider dilution incoming. |
| 196 | ALICE My Neighbor Alice | 89 | PASS | $16.9M | 1x | Multiplayer farm game with blockchain assets. Accessible farming gameplay. |
| 199 | FLOKI FLOKI | 88 | PASS | $257.5M | 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 | DENT Dent | 88 | PASS | $6.2M | 1x | Decentralized mobile data marketplace. eSIM and data trading. |
| 206 | LEVER LeverFi | 87 | PASS | - | 1x | Leveraged trading protocol. Composable DeFi use. |
| 208 | AGLD Adventure Gold | 86 | PASS | $18.0M | 1.03x | Loot NFT network token. Community-driven gaming DAO. |
| 213 | BLUR Blur | 84 | PASS | $55.8M | 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 | 1.4x | AMPL governance token. Elastic supply stablecoin protocol. |
| 216 | MASK Mask Network | 82 | PASS | $45.8M | 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 | 1x | Risk tokenization protocol. Fixed-rate yield and tranching. |
| 221 | LRC Loopring | 78 | PASS | $13.2M | 1x | Ethereum ZK-rollup DEX protocol that was first to market but lost the L2 race to Arbitrum, Optimism, and Base |
| 224 | IDEX IDEX | 77 | PASS | $838.1K | 1x | Hybrid DEX combining orderbook and AMM models. |
| 225 | AXS Axie Infinity | 76 | PASS | $207.3M | 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 |
| 229 | SUSHI SushiSwap | 74 | PASS | $66.7M | 1.02x | Once-prominent fork DEX that lost its narrative, its developers, and its users; no credible recovery path for the token |
| 231 | BAND Band Protocol | 73 | PASS | $40.8M | 1x | Alternative oracle network that briefly challenged Chainlink in 2020-2021 but has since been almost entirely displaced; no meaningful recovery signals |
| 235 | SHIB Shiba Inu | 71 | PASS | $3.17B | 1x | Meme coin with quadrillions of tokens and negligible DeFi. Shibarium L2 launched but sees minimal usage. Pure sentiment and retail speculation. |
| 236 | RBN Ribbon Finance | 68 | PASS | $1.7M | 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 | 1.54x | Rebranded SuperFarm gaming/NFT network with celebrity associations that never translated to user adoption; token structurally impaired |
| 238 | JASMY JasmyCoin | 67 | PASS | $243.3M | 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 | 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 | SPELL Spell Token | 63 | PASS | $16.0M | 1.22x | Governance token for Abracadabra Money (MIM stablecoin), permanently impaired by Wonderland scandal and UST contagion; no recovery path evident |
| 246 | SAND The Sandbox | 58 | PASS | $219.2M | 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 | 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 | 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 | 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 |
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.
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Market caps from CoinGecko, fetched 7 Oct 2026. Scores come from the research pass dated 18 Sept 2026. Research and analysis, not investment advice. Early Thunder scores are one framework applied consistently across 251 tokens, not a prediction of price.