QTUM vs SPELL
Qtum and Spell Token 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
QTUM scores 61 of 250 and ranks 245th of 251. SPELL scores 63 and ranks 242nd. SPELL leads by 2 points, which is inside the range where the individual variables matter more than the total. QTUM takes 7 of the 25 variables, SPELL takes 13, and 5 are level.
2 variables separate them by 3 points or more. QTUM is clear on Supply Inflation (6 against 3) and Vesting Schedule (7 against 4).
Both score 3 or below on Protocol Revenue, Revenue Trend, P/S Multiple, Buyback and Burn, Smart Money Flows, Insider Selling and 13 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.
SPELL still has 18.3% of its eventual supply to enter circulation against 1.6% for QTUM. On the same market capitalisation, a buyer of SPELL is taking the 1.22x dilution path and a buyer of QTUM the 1.02x one.
QTUM is valued at $97.7M against $16.0M for SPELL, a 6.1x difference. The smaller of the two scores higher on fundamentals, which is the disagreement worth understanding before either position is taken.
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 | 1 | 3 | SPELL +2 | |
| Revenue Trend | 1 | 2 | SPELL +1 | |
| P/S Multiple | 2 | 3 | SPELL +1 | |
| Real Staking Yield | 4 | 3 | QTUM +1 |
Supply
| Supply Inflation | 6 | 3 | QTUM +3 | |
| Vesting Schedule | 7 | 4 | QTUM +3 | |
| Circulating / FDV Ratio | 8 | 6 | QTUM +2 | |
| Buyback and Burn | 1 | 2 | SPELL +1 |
Ownership
| Smart Money Flows | 1 | 1 | level | |
| Insider Selling | 3 | 2 | QTUM +1 | |
| Holder Concentration | 3 | 3 | level |
Traction
| TVL Trend | 1 | 2 | SPELL +1 | |
| Active Users | 1 | 2 | SPELL +1 | |
| Developer Activity | 1 | 2 | SPELL +1 | |
| Network Growth | 1 | 2 | SPELL +1 |
Position
| Market Share | 1 | 2 | SPELL +1 | |
| Competitive Moat | 1 | 2 | SPELL +1 | |
| Institutional Adoption | 1 | 1 | level | |
| Exchange Depth | 4 | 3 | QTUM +1 | |
| Social Mindshare | 1 | 2 | SPELL +1 |
Risk
| Regulatory Safety | 5 | 4 | QTUM +1 | |
| Catalyst Calendar | 1 | 2 | SPELL +1 | |
| BTC Alpha Potential | 1 | 2 | SPELL +1 | |
| Team Execution | 2 | 2 | level | |
| Treasury Runway | 3 | 3 | level |
Bars read outward from the centre: QTUM to the left, SPELL 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
| QTUM | SPELL | |
|---|---|---|
| Price | $0.9209 | $0.000093 |
| Market cap | $97.7M | $16.0M |
| Circulating | 98.4% | 81.7% |
| Dilution to full supply | 1.02x | 1.22x |
| Off all-time high | -99.08% | -99.73% |
| To recover the high | 108.7x | 370.4x |
| Total value locked | $800.0K | $85.0M |
| Network | Qtum | 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
QTUM · PASS
None identifiable, chain is in maintenance mode with minimal development activity
Effectively dead network, volume at historical lows, no institutional interest, zero DeFi innovation
SPELL · PASS
Abracadabra's GLP-collateralized MIM vaults finding yield-bearing collateral niches
Abracadabra was associated with 0xSifu/Wonderland fraud; MIM depegged in 2022; trust permanently damaged
Common questions
- Is QTUM or SPELL the better investment?
- On this framework SPELL scores higher: 63 against 61 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 QTUM still wins 7 of the 25 individual variables against SPELL.
- What is the biggest difference between QTUM and SPELL?
- Supply Inflation. QTUM scores 6 of 10 there and SPELL scores 3, a gap of 3 points on a single variable.
- Which is bigger, QTUM or SPELL?
- QTUM is valued at $97.7M and SPELL at $16.0M 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.