BAND vs SUSHI
Band Protocol and SushiSwap scored on the same 25 variables, ranked against the same 251 tokens, with every gap between them shown.
Scoring pass 18 Sept 2026. Market snapshot 7 Oct 2026.
What separates them
BAND scores 73 of 250 and ranks 231st of 251. SUSHI scores 74 and ranks 229th. SUSHI leads by 1 points, which is inside the range where the individual variables matter more than the total. BAND takes 3 of the 25 variables, SUSHI takes 4, and 18 are level.
No single variable separates BAND and SUSHI by as much as 3 points. They are close on the framework's terms, which makes price, liquidity and the supply position below the only grounds for choosing.
Both score 3 or below on Protocol Revenue, Revenue Trend, Buyback and Burn, Smart Money Flows, Insider Selling, Holder Concentration and 12 more. A weakness both sides share is not a reason to prefer either. It is a reason to check whether the category itself carries the problem.
SUSHI is valued at $66.7M against $40.8M for BAND, a 1.6x difference. The larger of the two also scores higher, so the market and the framework agree on the ordering here.
All 25 variables, head to head
Both tokens were scored by the same framework in the same pass, so the numbers are directly comparable. What a comparison adds over two separate pages is the gap: a 6 against a 6 is a non-event, a 9 against a 3 is the reason to hold one and not the other.
Cash flow
| Protocol Revenue | 2 | 3 | SUSHI +1 | |
| Revenue Trend | 2 | 2 | level | |
| P/S Multiple | 4 | 4 | level | |
| Real Staking Yield | 3 | 3 | level |
Supply
| Supply Inflation | 4 | 4 | level | |
| Vesting Schedule | 5 | 5 | level | |
| Circulating / FDV Ratio | 6 | 6 | level | |
| Buyback and Burn | 1 | 2 | SUSHI +1 |
Ownership
| Smart Money Flows | 2 | 2 | level | |
| Insider Selling | 3 | 3 | level | |
| Holder Concentration | 3 | 3 | level |
Traction
| TVL Trend | 2 | 2 | level | |
| Active Users | 2 | 3 | SUSHI +1 | |
| Developer Activity | 3 | 3 | level | |
| Network Growth | 2 | 2 | level |
Position
| Market Share | 2 | 2 | level | |
| Competitive Moat | 2 | 2 | level | |
| Institutional Adoption | 2 | 2 | level | |
| Exchange Depth | 4 | 4 | level | |
| Social Mindshare | 2 | 3 | SUSHI +1 |
Risk
| Regulatory Safety | 6 | 5 | BAND +1 | |
| Catalyst Calendar | 2 | 2 | level | |
| BTC Alpha Potential | 2 | 2 | level | |
| Team Execution | 3 | 2 | BAND +1 | |
| Treasury Runway | 4 | 3 | BAND +1 |
Bars read outward from the centre: BAND to the left, SUSHI to the right. The side that leads a variable is filled. Each score is 1 to 10 against the same definition applied to all 251 rated tokens.
Market and supply
| BAND | SUSHI | |
|---|---|---|
| Price | $0.2228 | $0.2327 |
| Market cap | $40.8M | $66.7M |
| Circulating | 99.9% | 98.4% |
| Dilution to full supply | 1x | 1.02x |
| Off all-time high | -99.02% | -99% |
| To recover the high | 102x | 100x |
| Total value locked | not published | $320.0M |
| Network | Ethereum | Ethereum |
Price, market cap and all-time high from the CoinGecko snapshot fetched 7 Oct 2026. Supply shares are derived from circulating and eventual supply counts, which do not move with price. The 25 scores come from the research pass dated 18 Sept 2026.
Catalyst and risk on each side
BAND · PASS
Band V3 upgrade targeting cross-chain data availability
BAND has lost virtually all developer mindshare to Chainlink, Pyth, and API3; token near all-time lows in USD terms
SUSHI · PASS
Sushi 2.0 multi-chain expansion and Trident AMM adoption
Persistent team turnover, governance dysfunction, and chronic underperformance vs Uniswap make this a structurally broken protocol
Common questions
- Is BAND or SUSHI the better investment?
- On this framework SUSHI scores higher: 74 against 73 of 250, and it is rated PASS against PASS. That is a ranking of fundamentals as recorded at the last scoring pass, not a price forecast, and BAND still wins 3 of the 25 individual variables against SUSHI.
- What is the biggest difference between BAND and SUSHI?
- Nothing separates them by more than 2 points on any of the 25 variables, which is unusual and means the two are close substitutes on fundamentals.
- Which is bigger, BAND or SUSHI?
- BAND is valued at $40.8M and SUSHI at $66.7M on the latest market snapshot.
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Research and analysis, not investment advice. A higher score is one framework applied consistently to 251 tokens, not a prediction that one asset will outperform the other.