GEOD vs RAY
GEODNET and Raydium 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
GEOD scores 169 of 250 and ranks 7th of 251. RAY scores 129 and ranks 46th. GEOD leads by 40 points, which is a wide enough margin that the framework is not ambivalent. GEOD takes 20 of the 25 variables, RAY takes 2, and 3 are level.
The framework rates GEOD HOLD and RAY CAUTIOUS HOLD. Two tokens close enough to compare do not have to land in the same band, and where they do not, the divergence table below is where the split comes from.
5 variables separate them by 3 points or more. GEOD is clear on Smart Money Flows (9 against 4), Institutional Adoption (8 against 3) and Regulatory Safety (7 against 3). RAY is clear on Vesting Schedule (9 against 5) and Supply Inflation (7 against 4).
RAY is valued at $670.5M against $137.0M for GEOD, a 4.9x difference. The smaller of the two scores higher on fundamentals, which is the disagreement worth understanding before either position is taken.
RAY trades 85.2% below its all-time high and GEOD 20.9% below its own. Recovering the high needs 6.8x from RAY and 1.3x from GEOD, which is the same statement read as the return each one has to produce.
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 | 8 | 6 | GEOD +2 | |
| Revenue Trend | 6 | 4 | GEOD +2 | |
| P/S Multiple | 7 | 6 | GEOD +1 | |
| Real Staking Yield | 6 | 4 | GEOD +2 |
Supply
| Supply Inflation | 4 | 7 | RAY +3 | |
| Vesting Schedule | 5 | 9 | RAY +4 | |
| Circulating / FDV Ratio | 6 | 6 | level | |
| Buyback and Burn | 7 | 7 | level |
Ownership
| Smart Money Flows | 9 | 4 | GEOD +5 | |
| Insider Selling | 8 | 6 | GEOD +2 | |
| Holder Concentration | 6 | 5 | GEOD +1 |
Traction
| TVL Trend | 6 | 5 | GEOD +1 | |
| Active Users | 8 | 7 | GEOD +1 | |
| Developer Activity | 6 | 5 | GEOD +1 | |
| Network Growth | 8 | 6 | GEOD +2 |
Position
| Market Share | 8 | 5 | GEOD +3 | |
| Competitive Moat | 7 | 4 | GEOD +3 | |
| Institutional Adoption | 8 | 3 | GEOD +5 | |
| Exchange Depth | 5 | 5 | level | |
| Social Mindshare | 7 | 5 | GEOD +2 |
Risk
| Regulatory Safety | 7 | 3 | GEOD +4 | |
| Catalyst Calendar | 7 | 4 | GEOD +3 | |
| BTC Alpha Potential | 5 | 3 | GEOD +2 | |
| Team Execution | 8 | 5 | GEOD +3 | |
| Treasury Runway | 7 | 5 | GEOD +2 |
Bars read outward from the centre: GEOD to the left, RAY 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
| GEOD | RAY | |
|---|---|---|
| Price | $0.2963 | $2.48 |
| Market cap | $137.0M | $670.5M |
| Circulating | 46.2% | 48.6% |
| Dilution to full supply | 2.16x | 2.06x |
| Off all-time high | -20.9% | -85.2% |
| To recover the high | 1.3x | 6.8x |
| Total value locked | not published | $1.00B |
| Network | Solana | Solana |
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
GEOD · HOLD
The 30 June 2026 halving has already taken effect (12 to 6 GEOD/day), so the open question is whether burn now exceeds issuance, Japan/Iceland StableHex expansion (Jun 8), Binance listing 12-18mo (40-55% probability), humanoid robot positioning (Multicoin $8M thesis), GEODASH ag drone JV (Q3 2026 commercial)
P/S 9.9-14.4x expensive vs Helium (3.1x) and Trimble (4.5x), FCC licensing gap for distributed RTK radio (individual operator licenses needed), no formal 99.9% SLA for enterprise customers, NVIDIA/humanoid robot connection is pure speculation (zero confirmed partnerships), 37.7% supply still locked with ongoing investor releases through 2029
RAY · CAUTIOUS HOLD
Solana memecoin cycle revival could 3-5x volume overnight
PumpSwap directly forked revenue model, anonymous team, Q1 2026 revenue -76% from Q3 2025
Common questions
- Is GEOD or RAY the better investment?
- On this framework GEOD scores higher: 169 against 129 of 250, and it is rated HOLD against CAUTIOUS HOLD. That is a ranking of fundamentals as recorded at the last scoring pass, not a price forecast, and GEOD still wins 20 of the 25 individual variables against RAY.
- What is the biggest difference between GEOD and RAY?
- Smart Money Flows. GEOD scores 9 of 10 there and RAY scores 4, a gap of 5 points on a single variable.
- Which is bigger, GEOD or RAY?
- GEOD is valued at $137.0M and RAY at $670.5M on the latest market snapshot.
Related comparisons
Keep reading
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.