Risk

BTC Alpha Potential, ranked

Whether the asset has historically produced a return above Bitcoin rather than a levered copy of it.

One of the 25 variables in the framework. 251 tokens rated. Scoring pass 18 Sept 2026.

Median
3/10
mean 3.45
Scoring 9 or 10
1
of 251 rated
Composite link
0.63
correlation with total score
Market link
0.2
rank correlation with market cap, n=236
01

What this variable measures

Whether the asset has historically produced a return above Bitcoin rather than a levered copy of it.

A 10 means a real record of outperformance. A 1 means it falls harder and recovers less, every cycle.

Bitcoin is the benchmark an altcoin position has to beat. Most do not, and the ones that do not are easy to identify in advance.

02

What the universe says

Across 251 rated tokens the median score on BTC Alpha Potential is 3 of 10 and the mean is 3.45. 1 token scores 9 or 10, and 52 score 2 or below. Hyperliquid leads at 9 of 10.

BTC Alpha Potential correlates 0.63 with the composite score across the universe, which makes it strongly tied to overall standing. It moves with quality without being a proxy for it.

Against live market capitalisation for the 236 tokens with a matched market row, BTC Alpha Potential carries a rank correlation of 0.2. The market leans this way but does not price it consistently, so the ranking below still contains disagreement worth using.

The closest variable to BTC Alpha Potential is Active Users at 0.62, which is strongly tied to it. Nothing else in the framework restates this one, so it earns its slot.

03

Distribution across the universe

12
1
40
2
86
3
69
4
32
5
7
6
3
7
1
8
1
9
0
10

Tokens at each score from 1 to 10. The shape matters: a variable where almost everything clusters at 3 is telling you the whole category fails it, not that one token is unusual.

04

All 251 tokens ranked

Sorted by score on this variable alone, so a token can lead here and rank poorly overall. That disagreement is the useful part: it is where a single-variable screen finds something the composite averages away.

251 crypto tokens ranked by BTC Alpha Potential, scored 1 to 10
#TokenBTC Alpha PotentialCompositeMarket capVerdict
1HYPEHyperliquid3 ETFs live (THYP, BHYP, HYPG, about $253M combined AUM). About $600M annualised revenue after four straight quarterly declines, with builder fees now taking 18% of gross before buybacks. about 32% to 37% DEX perps share, down from roughly 70% in 2025. But closed-source, FCA warning, 22% circ.9/10193$19.71BHOLD CORE
2MORPHOMorphoInfrastructure lending protocol with $6.4B TVL and $203M annualized fees but zero revenue to token holders, fee switch off, founder opposes activation8/10157$1.75BHOLD
3LQTYLiquityV2 is RE-deployment after Jan 2025 bug (same auditors didn't catch it). 99% circ. BOLD $30M (<0.01%).7/10151$23.3MHOLD
4JUPJupiterS39 validated: Solana's DeFi superapp. 93.6% aggregator share, $2.9B TVL. Revenue declining -78% but net-zero emissions + vesting done.7/10151$1.04BHOLD
5SUISuiMove-language L1 with best TVL growth trajectory in 2025-2026. Strong DeFi traction but heavy vesting schedule is key risk.7/10146$4.63BHOLD
6MKRMaker / Sky$124M Q1 revenue. 2.7x gross P/S (~6.7x net). Buyback allocation cut from 75% to 7.5% of surplus in Mar 2026 to fund a $150M Solvency Reserve. Sky rebrand: about 81% of MKR already upgraded to SKY.6/10177not publishedHOLD CORE
7SOLSolanaHigh-throughput L1 with dominant DEX volume and meme coin launchpad traction. Network reliability improved significantly post-2023.6/10170$68.57BHOLD
8VIRTUALVirtuals ProtocolAI agent launchpad on Base with 18K+ agents but revenue collapsed 96% ($225K/day peak to $8.9K/day). aGDP is vanity metric. 93% whale concentration. ERC-8183 with Ethereum Foundation is real moat signal6/10151$502.6MCAUTIOUS HOLD
9CETUSCetus ProtocolLeading CLMM DEX on Sui with near-monopoly status; strong TVL growth as Sui network expansion accelerates6/10147$25.0MHOLD
10BNBBNBBinance exchange utility token with quarterly burns. Highly tied to Binance CEX health and regulatory outcome.6/10144$102.38BHOLD
11KASKaspa6/10114$1.11BWATCH
12ORDIORDI6/1096$88.5MPASS
13WSTETHWrapped Lido Staked ETH5/10185$11.76BHOLD CORE
14BTCBitcoin5/10183$1.67THOLD CORE
15GEODGEODNET5/10169$137.0MHOLD
16SYRUPMaple Finance5/10168$268.1MHOLD
17RETHRocket Pool ETH5/10159$946.8MHOLD
18CBETHCoinbase Wrapped Staked ETH5/10158$484.5MHOLD
19AEROAerodrome Finance5/10157$794.7MHOLD
20OKBOKB5/10145$2.75BHOLD
21DRIFTDrift Protocol5/10142$14.3MHOLD
22PAXGPAX Gold5/10141$1.79BHOLD
23INJInjective5/10139$727.9MCAUTIOUS HOLD
24ACXAcross Protocol5/10137$30.5MCAUTIOUS HOLD
25BANANABanana Gun5/10135$15.5MCAUTIOUS HOLD
26BGBBitget Token5/10135$1.37BCAUTIOUS HOLD
27JTOJito5/10134$263.0MCAUTIOUS HOLD
28OLASOlas (Autonolas)5/10129$13.4MCAUTIOUS HOLD
29GNOGnosis5/10128$316.6MCAUTIOUS HOLD
30TAOBittensor5/10128$3.29BCAUTIOUS HOLD
31BERABerachain5/10127$76.8MCAUTIOUS HOLD
32LEOUNUS SED LEO5/10126$8.19BCAUTIOUS HOLD
33GTGateToken5/10123not publishedCAUTIOUS HOLD
34VRTXVertex Protocol5/10121not publishedCAUTIOUS HOLD
35TIACelestia5/10120$432.0MCAUTIOUS HOLD
36STXStacks5/10118$697.8MWATCH
37XMRMonero5/10117$10.41BWATCH
38GRASSGrass5/10111$457.9MWATCH
39ZECZcash5/10101$22.59BWATCH
40CORECore5/10100$29.2MWATCH
41CKBNervos Network5/1093$61.4MPASS
42BONKBonk5/1093$300.8MPASS
43PEPEPepe5/1092$1.70BPASS
44WIFdogwifhat5/1088$227.9MPASS
45ETHEthereum4/10187$313.17BHOLD CORE
46UNIUniswap4/10167$4.91BHOLD
47LINKChainlink4/10165$10.01BHOLD
48ETHFIEther.fi4/10162$680.1MHOLD
49LDOLido DAO4/10146$353.8MHOLD
50ARArweave4/10140$274.9MHOLD
51ENSEthereum Name Service4/10137$269.1MCAUTIOUS HOLD
52ARBArbitrum4/10134$1.25BCAUTIOUS HOLD
53SAFESafe (formerly Gnosis Safe)4/10132$84.0MCAUTIOUS HOLD
54AKTAkash Network4/10129$210.6MCAUTIOUS HOLD
55TRXTRON4/10125$31.81BCAUTIOUS HOLD
56OPOptimism4/10123$273.9MCAUTIOUS HOLD
57CAKEPancakeSwap4/10123$698.0MCAUTIOUS HOLD
58LPTLivepeer4/10123$82.2MCAUTIOUS HOLD
59ORCAOrca4/10123$167.2MCAUTIOUS HOLD
60HNTHelium4/10122$97.6MCAUTIOUS HOLD
61XRPXRP4/10121$90.31BCAUTIOUS HOLD
62VELOVelodrome Finance4/10121$46.1MCAUTIOUS HOLD
63MAVMaverick Protocol4/10121$13.1MCAUTIOUS HOLD
64ENAEthena4/10120$3.06BCAUTIOUS HOLD
65CHZChiliz4/10120$165.6MCAUTIOUS HOLD
66PRIMEEchelon Prime4/10119$14.8MWATCH
67MNDEMarinade4/10119$15.6MWATCH
68KCSKuCoin Token4/10119not publishedWATCH
69WOOWOO Network4/10118$23.6MWATCH
70STGStargate Finance4/10117$20.1MWATCH
71JOETrader Joe4/10117$17.4MWATCH
72APTAptos4/10116$652.3MWATCH
73QNTQuant4/10116$3.53BWATCH
74SSonic (prev. Fantom)4/10115$154.2MWATCH
75ONDOOndo Finance4/10115$2.27BWATCH
76CFGCentrifuge4/10115not publishedWATCH
77HBARHedera4/10112$4.09BWATCH
78TNSRTensor4/10112$27.8MWATCH
79FTMFantom4/10111not publishedWATCH
80KNCKyber Network4/10110$28.1MWATCH
81DYDXdYdX4/10109$113.2MWATCH
82BICOBiconomy4/10109$20.1MWATCH
83IOio.net4/10108$63.1MWATCH
84PERPPerpetual Protocol4/10108$2.8MWATCH
85STORJStorj4/10108$12.3MWATCH
86ALCXAlchemix4/10108$6.6MWATCH
87OMMANTRA4/10108$29.1MWATCH
88EIGENEigenLayer4/10107$226.1MWATCH
89PYTHPyth Network4/10107$557.2MWATCH
90VELAVela Exchange4/10107not publishedWATCH
91GELGelato4/10107$498.0KWATCH
92SLNDSolend4/10106not publishedWATCH
93QUICKQuickSwap4/10105$7.0MWATCH
94PENGUPudgy Penguins4/10104$535.4MWATCH
95RDNTRadiant Capital4/10104$1.0MWATCH
96RONRonin4/10104$49.1MWATCH
97RSRReserve Rights4/10104$100.3MWATCH
98KLAYKlaytn4/10103not publishedWATCH
99KSMKusama4/10103$90.6MWATCH
100SHDWShadow Token4/10103$5.3MWATCH
101SCROLLScroll4/10102$4.7MWATCH
102CROCronos4/10102$3.12BWATCH
103TRUTrueFi4/10102$1.1MWATCH
104ATHAethir4/10101$132.9MWATCH
105ILVIlluvium4/10101$31.5MWATCH
106MCMerit Circle (Beam)4/10101not publishedWATCH
107DASHDash4/10101$683.9MWATCH
108BADGERBadgerDAO4/10100$6.4MWATCH
109ALPACAAlpaca Finance4/1095$138.7KPASS
110WWormhole4/1092$93.6MPASS
111TRBTellor4/1090$56.4MPASS
112WLDWorldcoin4/1089$1.96BPASS
113FLOKIFLOKI4/1088$257.5MPASS
114COWCoW Protocol3/10167$82.3MHOLD
115PENDLEPendle Finance3/10160$391.5MHOLD
116FLUIDFluid (Instadapp)3/10145$158.2MCAUTIOUS HOLD
117GMXGMX3/10143$84.3MHOLD
118SKYSky (formerly Maker)3/10141$1.86BCAUTIOUS HOLD
119NEARNEAR Protocol3/10135$6.64BCAUTIOUS HOLD
120SNXSynthetix3/10130$137.5MCAUTIOUS HOLD
121RAYRaydium3/10129$670.5MCAUTIOUS HOLD
122POLPolygon system Token3/10123$1.08BCAUTIOUS HOLD
123COMPCompound3/10119$234.1MWATCH
124ADACardano3/10113$9.57BWATCH
125YFIYearn Finance3/10111$86.4MWATCH
126TONToncoin3/10110$4.02BWATCH
127XLMStellar3/10108$7.01BWATCH
128SSVSSV Network3/10106$42.1MWATCH
129ZROLayerZero3/10106$850.4MWATCH
130GTCGitcoin3/10106$15.9MWATCH
131FXSFrax Share3/10105$28.3MWATCH
132RPLRocket Pool3/10104$40.8MWATCH
133MLNEnzyme (Melon)3/10104not publishedWATCH
134CVXConvex Finance3/10103$193.9MWATCH
135ICPInternet Computer3/10102$1.75BWATCH
136APEApeCoin3/10102$146.9MWATCH
137GMTSTEPN3/10101$25.0MWATCH
138AUDIOAudius3/10101$22.7MWATCH
139SEISei3/10100$457.3MWATCH
140USUALUsual Protocol3/1099$23.6MPASS
141API3API33/1099$45.0MPASS
142FLRFlare3/1099$609.8MPASS
143CFXConflux3/1098$265.8MPASS
144MINAMina Protocol3/1098$121.4MPASS
145NMRNumeraire3/1098$105.4MPASS
146HTHuobi Token3/1098$16.3MPASS
147IOTXIoTeX3/1098$34.2MPASS
148ALGOAlgorand3/1097$1.05BPASS
149COTICOTI3/1097$39.1MPASS
150SKLSKALE3/1097$26.6MPASS
151ACHAlchemy Pay3/1097not publishedPASS
152REQRequest3/1097$42.8MPASS
153RADRadicle3/1097$19.5MPASS
154POOLPoolTogether3/1096$176.3KPASS
155FLUXFlux3/1096$191.3KPASS
156CTSICartesi3/1096$27.7MPASS
157ZKZKsync3/1095$129.1MPASS
158BALBalancer3/1095$9.1MPASS
159YGGYield Guild Games3/1095$22.5MPASS
160INVInverse Finance3/1095$6.9MPASS
161POLYXPolymesh3/1095$52.9MPASS
162CELOCelo3/1094$57.3MPASS
163GLMRMoonbeam3/1094$13.9MPASS
164RLCiExec3/1094$61.1MPASS
165MXMEXC Token3/1094not publishedPASS
166STRKStarknet3/1093$366.4MPASS
1671INCH1inch Network3/1093$138.1MPASS
168PROPPropy3/1093$35.2MPASS
169FARMHarvest Finance3/1093$5.1MPASS
170MOBILEHelium Mobile3/1092$6.0MPASS
171MBOXMOBOX3/1092$298.5KPASS
172HOPRHOPR3/1092$8.7MPASS
173ALPHAAlpha Venture DAO3/1091$483.2KPASS
174PONDMarlin3/1091$14.2MPASS
175CELRCeler Network3/1090$22.9MPASS
176ETCEthereum Classic3/1090$1.32BPASS
177ALICEMy Neighbor Alice3/1089$16.9MPASS
178PEAQpeaq3/1088$102.2MPASS
179HIGHHighstreet3/1088not publishedPASS
180SXPSolar3/1088$2.5MPASS
181DENTDent3/1088$6.2MPASS
182BLASTBlast3/1087$4.9MPASS
183LEVERLeverFi3/1087not publishedPASS
184NOSNosana3/1086$52.5MPASS
185GOGGuild of Guardians3/1086$960.1KPASS
186AGLDAdventure Gold3/1086$18.0MPASS
187CANTOCanto3/1086$2.0MPASS
188ROSEOasis Network3/1084$62.0MPASS
189BLURBlur3/1084$55.8MPASS
190FORTHAmpleforth Governance3/1084$3.0MPASS
191MASKMask Network3/1082$45.8MPASS
192BONDBarnBridge3/1082$93.5KPASS
193WAXPWAX3/1081$26.9MPASS
194PRCLParcl3/1080$5.5MPASS
195IDEXIDEX3/1077$838.1KPASS
196MANTAManta Network3/1076$31.1MPASS
197POPCATPopcat3/1073$46.9MPASS
198SUPERSuperVerse3/1067$144.5MPASS
199JASMYJasmyCoin3/1067$243.3MPASS
200AAVEAave2/10156$2.65BHOLD
201CRVCurve Finance2/10140$552.7MHOLD
202KMNOKamino Finance2/10138$214.9MCAUTIOUS HOLD
203AVAXAvalanche2/10138$4.93BCAUTIOUS HOLD
204RENDERRender Network2/10127$1.05BCAUTIOUS HOLD
205LITLighter2/10125$876.5MWATCH
206GNSGains Network2/10116$9.5MWATCH
207MATICPolygon (Legacy)2/10110$1.08BWATCH
208RUNETHORChain2/10106$234.5MPASS
209DOTPolkadot2/10103$1.88BWATCH
210LTCLitecoin2/10102$5.15BWATCH
211FILFilecoin2/10101$867.2MWATCH
212VETVeChain2/10101$692.4MWATCH
213ANKRAnkr Network2/1096$46.1MPASS
214ATOMCosmos2/1096$899.5MPASS
215OSMOOsmosis2/1093$26.6MPASS
216SNTStatus2/1092$38.1MPASS
217NANONano2/1090$46.6MPASS
218DOGEDogecoin2/1089$13.83BPASS
219XTZTezos2/1088$336.3MPASS
220EGLDMultiversX (prev. Elrond)2/1085$123.2MPASS
221KAVAKava2/1080$71.7MPASS
222LRCLoopring2/1078$13.2MPASS
223AXSAxie Infinity2/1076$207.3MPASS
224BTTBitTorrent2/1076$357.4MPASS
225MCBMCDEX2/1076$8.9MPASS
226SUSHISushiSwap2/1074$66.7MPASS
227RVNRavencoin2/1074$36.1MPASS
228NOTNotcoin2/1073$45.0MPASS
229BANDBand Protocol2/1073$40.8MPASS
230MODEMode Network2/1072$666.9KPASS
231SHIBShiba Inu2/1071$3.17BPASS
232NEONeo2/1068$166.5MPASS
233RBNRibbon Finance2/1068$1.7MPASS
234MOVEMovement2/1067$40.6MPASS
235MANADecentraland2/1066$197.1MPASS
236SPELLSpell Token2/1063$16.0MPASS
237MEMEMemecoin2/1057$36.6MPASS
238NEIRONEIRO2/1056$35.3MPASS
239GALAGala Games2/1053$114.2MPASS
240GRTThe Graph1/10121$297.6MCAUTIOUS HOLD
241IMXImmutable X1/10117$156.3MWATCH
242FETFetch.ai (ASI Alliance)1/10109$522.8MWATCH
243THETATheta Network1/10105$214.2MWATCH
244FLOWFlow1/1078$53.4MPASS
245IOTAIOTA1/1078$248.2MPASS
246ZILZilliqa1/1063$64.9MPASS
247DOGSDOGS1/1062$22.6MPASS
248QTUMQtum1/1061$97.7MPASS
249SANDThe Sandbox1/1058$219.2MPASS
250KDAKadena1/1050$3.0MPASS
251ONEHarmony1/1048$32.9MPASS

Scores come from the research pass dated 18 Sept 2026 and do not move with price. Market capitalisation is from the live snapshot fetched 7 Oct 2026, so the two columns are stamped at different times on purpose.

05

Variables that move with this one

Correlations across all 251 rated tokens. A number near 1 means the two variables are close to the same measurement, which is worth knowing before treating a second high score as independent confirmation of the first.

06

Common questions

Which crypto tokens score highest on btc alpha potential?
Hyperliquid (HYPE) at 9, Morpho (MORPHO) at 8, Liquity (LQTY) at 7, Jupiter (JUP) at 7, Sui (SUI) at 7 lead the 251 rated tokens on BTC Alpha Potential, each scored 1 to 10 against the same definition.
What is a good btc alpha potential score?
The median across the universe is 3 of 10 and the mean is 3.45, so anything at 7 or above sits well inside the top of the distribution. Only 1 of 251 tokens reach 9 or 10.
Does btc alpha potential affect a token's market cap?
Rank correlation between BTC Alpha Potential and market capitalisation is 0.2 across 236 tokens with live market data. That is a weak relationship, so the market prices it only partly.

Keep reading

Research and analysis, not investment advice. Correlations describe the rated universe at one point in time and are not predictions.