Nano (NANO)
Instant feeless payments. Block-lattice architecture. Fully distributed supply.
Ranked 192nd of 251 rated tokens. Scoring pass 11 Jun 2026.
What the numbers say
NANO scores 90 of 250 across the 25-variable framework, which places it 192nd of 251 rated tokens and inside the bottom quartile of the set. The framework verdict is PASS.
NANO is a top-10 name in the set on one variable. The score rests on Supply Inflation 8/10, 8th of 251, Vesting Schedule 8/10, 21st of 251, Insider Selling 6/10, 21st of 251 and Circulating / FDV Ratio 8/10, 27th of 251.
Against the same universe, NANO sits in the bottom third on Real Staking Yield 1/10, 226th of 251, Treasury Runway 3/10, 226th of 251, Catalyst Calendar 2/10, 222nd of 251 and Protocol Revenue 1/10, 221st of 251. These are the variables that would have to move for the verdict to change.
100% of eventual supply is already circulating, so vesting is not a live risk for NANO. Price has to be justified by demand rather than absorbed against a cliff.
NANO trades 98.8% below its all-time high of $33.69. Recovering that level is a 83.3x move, not a 98.8% one, which is the arithmetic most drawdown charts hide.
The framework score gained 90 points against the previous pass (0 to 90). Revisions of this size follow a change in the underlying variables, not a change in price.
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 | 1 | 221st of 251 | |
| Revenue Trend | 2 | 191st of 251 | |
| P/S Multiple | 5 | 38th of 251 | |
| Real Staking Yield | 1 | 226th of 251 |
Supply
| Supply Inflation | 8 | 8th of 251 | |
| Vesting Schedule | 8 | 21st of 251 | |
| Circulating / FDV Ratio | 8 | 27th of 251 | |
| Buyback and Burn | 1 | 205th of 251 |
Ownership
| Smart Money Flows | 3 | 149th of 251 | |
| Insider Selling | 6 | 21st of 251 | |
| Holder Concentration | 4 | 58th of 251 |
Traction
| TVL Trend | 2 | 189th of 251 | |
| Active Users | 3 | 149th of 251 | |
| Developer Activity | 4 | 158th of 251 | |
| Network Growth | 3 | 156th of 251 |
Position
| Market Share | 2 | 203rd of 251 | |
| Competitive Moat | 4 | 114th of 251 | |
| Institutional Adoption | 2 | 192nd of 251 | |
| Exchange Depth | 3 | 220th of 251 | |
| Social Mindshare | 3 | 157th of 251 |
Risk
| Regulatory Safety | 6 | 52nd of 251 | |
| Catalyst Calendar | 2 | 222nd of 251 | |
| BTC Alpha Potential | 2 | 200th of 251 | |
| Team Execution | 4 | 147th of 251 | |
| Treasury Runway | 3 | 226th 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
Feeless, instant transactions via DAG; ideal for micropayments and remittances.
Principal risk
Low adoption for payments; no smart contracts limit utility beyond transfers.
Market and supply
NANO now trades as XNO. The scoring pass ran under the old ticker, so the scores below are filed under NANO while the market figures track XNO.
| Price | $0.3983 |
| Market cap | $53.1Mrank 402 |
| All-time high | $33.691 Jan 2018 |
| Circulating supply | 133,248,297 |
| Eventual supply (max supply) | 133,248,297 |
| Dilution to full supply | 1x |
| Listed on | Kraken, Binance, KuCoin |
Price, market cap, supply and all-time high from CoinGecko, fetched 6 Aug 2026. The 25 scores come from the research pass dated 11 Jun 2026 and don't move with price.
Tokens with a similar profile
These are the closest matches to NANO 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.
Common questions
- What is the Early Thunder score for Nano (NANO)?
- NANO scores 90 out of 250 on the 25-variable framework, ranking 192nd of 251 rated tokens (bottom quartile). The framework verdict is PASS.
- What are NANO's strongest fundamentals?
- NANO ranks highest on Supply Inflation 8/10, 8th of 251, Vesting Schedule 8/10, 21st of 251, Insider Selling 6/10, 21st of 251 and Circulating / FDV Ratio 8/10, 27th of 251. Ranks are measured against all 251 tokens in the same scoring pass.
- What are the weakest parts of the NANO thesis?
- NANO scores in the bottom third of the universe on Real Staking Yield 1/10, 226th of 251, Treasury Runway 3/10, 226th of 251, Catalyst Calendar 2/10, 222nd of 251 and Protocol Revenue 1/10, 221st of 251. The single risk carried on the scorecard is: Low adoption for payments; no smart contracts limit utility beyond transfers.
- How much NANO supply is still to enter circulation?
- 100% of eventual NANO supply is circulating today, leaving 1x the current float still to arrive. At a flat price per token that is 0% of fully diluted value ahead of current holders.
- How far is NANO from its all-time high?
- NANO trades 98.8% below its all-time high of $33.69. Returning to that high requires a 83.3x move from the level used in this scoring pass.
- Which tokens have a similar profile to NANO?
- Measured on the shape of all 25 scored variables rather than on price, the closest matches to NANO are AGLD (86), FORTH (84), ALPHA (91) and RLC (94). Similarity here means the same pattern of strengths and weaknesses, not a similar market cap.
- What is the next catalyst for NANO?
- Feeless, instant transactions via DAG; ideal for micropayments and remittances.
Keep reading
Research and analysis, not investment advice. Scores are one framework applied consistently across 251 tokens, not a prediction of price.