RVN vs WAXP
Ravencoin and WAX 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
RVN scores 74 of 250 and ranks 229th of 251. WAXP scores 81 and ranks 218th. WAXP leads by 7 points, which is inside the range where the individual variables matter more than the total. RVN takes 3 of the 25 variables, WAXP takes 9, and 13 are level.
No single variable separates RVN and WAXP 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, Real Staking Yield, TVL Trend and 9 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.
RVN still has 21.4% of its eventual supply to enter circulation against 0% for WAXP. On the same market capitalisation, a buyer of RVN is taking the 1.27x dilution path and a buyer of WAXP the 1x one.
RVN is valued at $36.1M against $26.9M for WAXP, a 1.3x 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 | 2 | WAXP +1 | |
| Revenue Trend | 2 | 2 | level | |
| P/S Multiple | 4 | 3 | RVN +1 | |
| Real Staking Yield | 1 | 3 | WAXP +2 |
Supply
| Supply Inflation | 3 | 4 | WAXP +1 | |
| Vesting Schedule | 5 | 5 | level | |
| Circulating / FDV Ratio | 5 | 5 | level | |
| Buyback and Burn | 1 | 2 | WAXP +1 |
Ownership
| Smart Money Flows | 2 | 2 | level | |
| Insider Selling | 6 | 5 | RVN +1 | |
| Holder Concentration | 5 | 4 | RVN +1 |
Traction
| TVL Trend | 2 | 2 | level | |
| Active Users | 3 | 4 | WAXP +1 | |
| Developer Activity | 3 | 3 | level | |
| Network Growth | 2 | 3 | WAXP +1 |
Position
| Market Share | 2 | 3 | WAXP +1 | |
| Competitive Moat | 3 | 3 | level | |
| Institutional Adoption | 2 | 2 | level | |
| Exchange Depth | 4 | 4 | level | |
| Social Mindshare | 3 | 3 | level |
Risk
| Regulatory Safety | 5 | 5 | level | |
| Catalyst Calendar | 2 | 2 | level | |
| BTC Alpha Potential | 2 | 3 | WAXP +1 | |
| Team Execution | 3 | 3 | level | |
| Treasury Runway | 3 | 4 | WAXP +1 |
Bars read outward from the centre: RVN to the left, WAXP 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
| RVN | WAXP | |
|---|---|---|
| Price | $0.002188 | $0.005726 |
| Market cap | $36.1M | $26.9M |
| Circulating | 78.6% | 100% |
| Dilution to full supply | 1.27x | 1x |
| Off all-time high | -99.23% | -99.79% |
| To recover the high | 129.9x | 476.2x |
| Total value locked | not published | not published |
| Network | Ravencoin | WAX |
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
RVN · PASS
Asset issuance and tokenization on a proof-of-work blockchain for NFTs.
High energy use and regulatory risk for PoW assets post-merge.
WAXP · PASS
Leading blockchain for NFT gaming and digital collectibles with low fees.
Dependence on gaming trends and competition from other gaming chains.
Common questions
- Is RVN or WAXP the better investment?
- On this framework WAXP scores higher: 81 against 74 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 RVN still wins 3 of the 25 individual variables against WAXP.
- What is the biggest difference between RVN and WAXP?
- 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, RVN or WAXP?
- RVN is valued at $36.1M and WAXP at $26.9M 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.