Marlin (POND)
High-performance network infrastructure. TEE coprocessors for DeFi.
Ranked 190th of 251 rated tokens. Scoring pass 11 Jun 2026.
What the numbers say
POND scores 91 of 250 across the 25-variable framework, which places it 190th of 251 rated tokens and inside the bottom quartile of the set. The framework verdict is PASS.
The score rests on Insider Selling 5/10, 42nd of 251, Holder Concentration 4/10, 58th of 251, Supply Inflation 5/10, 61st of 251 and Treasury Runway 5/10, 74th of 251.
Only 82.3% of POND's maximum supply is in circulation, so 1.22x the current float is still scheduled to arrive. Holding price per token flat while the rest enters circulation implies 17.7% of the fully diluted value sitting ahead of today's holders. That is a real but manageable overhang.
POND trades 99.77% below its all-time high of $0.3234. Recovering that level is a 434.8x move, not a 99.77% one, which is the arithmetic most drawdown charts hide.
The framework score gained 91 points against the previous pass (0 to 91). 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 | 2 | 166th of 251 | |
| Revenue Trend | 3 | 117th of 251 | |
| P/S Multiple | 4 | 104th of 251 | |
| Real Staking Yield | 3 | 143rd of 251 |
Supply
| Supply Inflation | 5 | 61st of 251 | |
| Vesting Schedule | 5 | 100th of 251 | |
| Circulating / FDV Ratio | 5 | 135th of 251 | |
| Buyback and Burn | 2 | 114th of 251 |
Ownership
| Smart Money Flows | 3 | 149th of 251 | |
| Insider Selling | 5 | 42nd of 251 | |
| Holder Concentration | 4 | 58th of 251 |
Traction
| TVL Trend | 3 | 111th of 251 | |
| Active Users | 3 | 149th of 251 | |
| Developer Activity | 5 | 83rd of 251 | |
| Network Growth | 3 | 156th of 251 |
Position
| Market Share | 3 | 131st of 251 | |
| Competitive Moat | 3 | 175th of 251 | |
| Institutional Adoption | 3 | 115th of 251 | |
| Exchange Depth | 4 | 157th of 251 | |
| Social Mindshare | 3 | 157th of 251 |
Risk
| Regulatory Safety | 5 | 102nd of 251 | |
| Catalyst Calendar | 3 | 158th of 251 | |
| BTC Alpha Potential | 3 | 114th of 251 | |
| Team Execution | 4 | 147th 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
Layer-0 scaling for DeFi nodes; Marlin's Oyster network reduces latency.
Principal risk
Competition from other L0 protocols (e.g., Avail); low developer traction.
Market and supply
| Price | $0.000734 |
| Market cap | $6.0Mrank 1438 |
| All-time high | $0.323421 Dec 2020 |
| Circulating supply | 8,227,704,524 |
| Eventual supply (max supply) | 10,000,000,000 |
| Dilution to full supply | 1.22x |
| Listed on | Binance, KuCoin, Gate.io |
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 POND 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 Marlin (POND)?
- POND scores 91 out of 250 on the 25-variable framework, ranking 190th of 251 rated tokens (bottom quartile). The framework verdict is PASS.
- What are POND's strongest fundamentals?
- POND ranks highest on Insider Selling 5/10, 42nd of 251, Holder Concentration 4/10, 58th of 251, Supply Inflation 5/10, 61st of 251 and Treasury Runway 5/10, 74th of 251. Ranks are measured against all 251 tokens in the same scoring pass.
- How much POND supply is still to enter circulation?
- 82.3% of eventual POND supply is circulating today, leaving 1.22x the current float still to arrive. At a flat price per token that is 17.7% of fully diluted value ahead of current holders.
- How far is POND from its all-time high?
- POND trades 99.77% below its all-time high of $0.3234. Returning to that high requires a 434.8x move from the level used in this scoring pass.
- Which tokens have a similar profile to POND?
- Measured on the shape of all 25 scored variables rather than on price, the closest matches to POND are ALICE (89), RLC (94), HIGH (88) and HOPR (92). Similarity here means the same pattern of strengths and weaknesses, not a similar market cap.
- What is the next catalyst for POND?
- Layer-0 scaling for DeFi nodes; Marlin's Oyster network reduces latency.
Keep reading
Research and analysis, not investment advice. Scores are one framework applied consistently across 251 tokens, not a prediction of price.