Trader Joe (JOE)
Dominant DEX on Avalanche. Liquidity Book AMM with concentrated liquidity.
Ranked 77th of 251 rated tokens. Scoring pass 18 Sept 2026.
What the numbers say
JOE scores 117 of 250 across the 25-variable framework, which places it 77th of 251 rated tokens and inside the upper half of the set. The framework verdict is WATCH.
The score rests on TVL Trend 5/10, 30th of 251, Revenue Trend 5/10, 32nd of 251, Protocol Revenue 5/10, 37th of 251 and Real Staking Yield 5/10, 37th of 251.
91.4% of eventual supply is already circulating, so vesting is not a live risk for JOE. Price has to be justified by demand rather than absorbed against a cliff.
JOE trades 99.25% below its all-time high of $5.09. Recovering that level is a 133.3x move, not a 99.25% one, which is the arithmetic most drawdown charts hide.
The framework score gained 117 points against the previous pass (0 to 117). Revisions of this size follow a change in the underlying variables, not a change in price.
JOE clears 7 of 10 on none of the 25 variables. Its best three are Circulating / FDV Ratio at 6, TVL Trend at 5, Revenue Trend at 5. That is a thin hand whichever way the market prices it, and the ranking is the honest reading. It is weak on Institutional Adoption, which the market does price, so that damage is already done and visible in the valuation.
25-variable breakdown
Each variable is scored 1 to 10 and ranked against every other rated token, so a 7 that ranks 20th means something different from a 7 that ranks 180th. The rank is the part that is hard to get anywhere else.
Cash flow
| Protocol Revenue | 5 | 37th of 251 | |
| Revenue Trend | 5 | 32nd of 251 | |
| P/S Multiple | 5 | 38th of 251 | |
| Real Staking Yield | 5 | 37th of 251 |
Supply
| Supply Inflation | 5 | 61st of 251 | |
| Vesting Schedule | 5 | 100th of 251 | |
| Circulating / FDV Ratio | 6 | 88th of 251 | |
| Buyback and Burn | 3 | 63rd of 251 |
Ownership
| Smart Money Flows | 4 | 93rd of 251 | |
| Insider Selling | 5 | 42nd of 251 | |
| Holder Concentration | 4 | 58th of 251 |
Traction
| TVL Trend | 5 | 30th of 251 | |
| Active Users | 5 | 38th of 251 | |
| Developer Activity | 5 | 83rd of 251 | |
| Network Growth | 5 | 52nd of 251 |
Position
| Market Share | 5 | 52nd of 251 | |
| Competitive Moat | 5 | 57th of 251 | |
| Institutional Adoption | 3 | 115th of 251 | |
| Exchange Depth | 5 | 73rd of 251 | |
| Social Mindshare | 4 | 86th of 251 |
Risk
| Regulatory Safety | 5 | 102nd of 251 | |
| Catalyst Calendar | 4 | 90th of 251 | |
| BTC Alpha Potential | 4 | 45th of 251 | |
| Team Execution | 5 | 74th of 251 | |
| Treasury Runway | 5 | 74th of 251 |
The vertical tick on each bar marks the median score across all 251 rated tokens, so a bar ending left of the tick is below the universe on that variable.
Catalyst and risk
Next catalyst
Avalanche liquidity incentives & Boosted Pools; launch on Ethereum L2s
Principal risk
DEX competition (Trader Joe vs. Uniswap/Aave); Avalanche network slowdown
Market and supply
| Price | $0.0380 |
| Market cap | $17.4Mrank 944 |
| All-time high | $5.0921 Nov 2021 |
| Circulating supply | 457,181,657 |
| Eventual supply (max supply) | 500,000,000 |
| Dilution to full supply | 1.09x |
| Listed on | Binance, Bybit, Trader Joe |
Price, market cap, supply and all-time high from CoinGecko, fetched 7 Oct 2026. The 25 scores come from the research pass dated 18 Sept 2026 and don't move with price.
Tokens with a similar profile
These are the closest matches to JOE measured on the shape of all 25 variables after removing overall quality, so what they share is a pattern of strengths and weaknesses rather than a similar size or price.
JOE compared head to head
Both sides of each comparison were scored by the same framework in the same pass, so the gap between them is a measurement rather than two readings taken with different rulers.
Common questions
- What is the Early Thunder score for Trader Joe (JOE)?
- JOE scores 117 out of 250 on the 25-variable framework, ranking 77th of 251 rated tokens (upper half). The framework verdict is WATCH.
- What are JOE's strongest fundamentals?
- JOE ranks highest on TVL Trend 5/10, 30th of 251, Revenue Trend 5/10, 32nd of 251, Protocol Revenue 5/10, 37th of 251 and Real Staking Yield 5/10, 37th of 251. Ranks are measured against all 251 tokens in the same scoring pass.
- How much JOE supply is still to enter circulation?
- 91.4% of eventual JOE supply is circulating today, leaving 1.09x the current float still to arrive. At a flat price per token that is 8.6% of fully diluted value ahead of current holders.
- How far is JOE from its all-time high?
- JOE trades 99.25% below its all-time high of $5.09. Returning to that high requires a 133.3x move from the level used in this scoring pass.
- Which tokens have a similar profile to JOE?
- Measured on the shape of all 25 scored variables rather than on price, the closest matches to JOE are MNDE (119), QUICK (105), LPT (123) and STG (117). Similarity here means the same pattern of strengths and weaknesses, not a similar market cap.
- What is the next catalyst for JOE?
- Avalanche liquidity incentives & Boosted Pools; launch on Ethereum L2s
Keep reading
Research and analysis, not investment advice. Scores are one framework applied consistently across 251 tokens, not a prediction of price.