Supply
Circulating / FDV Ratio, ranked
Circulating supply as a share of eventual supply.
One of the 25 variables in the framework. 251 tokens rated. Scoring pass 18 Sept 2026.
Median
6/10
mean 5.84
Scoring 9 or 10
26
of 251 rated
Composite link
0.21
correlation with total score
Market link
0.19
rank correlation with market cap, n=236
01
What this variable measures
Circulating supply as a share of eventual supply.
A 10 means effectively everything is already trading. A 1 means most of the eventual supply has yet to enter circulation.
The gap between market cap and fully diluted valuation is the discount the market is quietly ignoring, or the overhang it is quietly carrying.
02
What the universe says
Across 251 rated tokens the median score on Circulating / FDV Ratio is 6 of 10 and the mean is 5.84. 26 tokens score 9 or 10, and 11 score 2 or below. Ethereum leads at 10 of 10.
Circulating / FDV Ratio correlates 0.21 with the composite score across the universe, which makes it loosely tied to overall standing. That is low enough that the variable is finding something the rest of the framework misses, which is where a screen on it alone is worth running.
Against live market capitalisation for the 236 tokens with a matched market row, Circulating / FDV Ratio carries a rank correlation of 0.19. The market leans this way but does not price it consistently, so the ranking below still contains disagreement worth using.
Circulating / FDV Ratio and Vesting Schedule correlate 0.82, so reading both is close to reading one twice. Treat them as a single position on the same question rather than two independent confirmations.
Coinbase Wrapped Staked ETH (CBETH) scores 10 of 10 on Circulating / FDV Ratio, 1st of 251, on a market capitalisation under $500M. That gap between rank on this variable and rank by size is the whole reason to read the table rather than the top ten.
03
Distribution across the universe
31
82
163
224
685
476
427
198
179
910
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.
| # | Token | Circulating / FDV Ratio | Composite | Market cap | Verdict |
|---|---|---|---|---|---|
| 1 | ETHEthereumInstitutional settlement layer. Commodity classification. Burn collapsed but moat intact. | 10/10 | 187 | $313.17B | HOLD CORE |
| 2 | WSTETHWrapped Lido Staked ETHLido's wrapped staked ETH, the DeFi collateral standard with about $17.7B TVL and native yield; dominant LST by every metric | 10/10 | 185 | $11.76B | HOLD CORE |
| 3 | RETHRocket Pool ETHDecentralized ETH liquid staking token from Rocket Pool; most trust-minimized LST with permissionless node operators | 10/10 | 159 | $946.8M | HOLD |
| 4 | CBETHCoinbase Wrapped Staked ETHCoinbase's centralized ETH liquid staking token; simplest onramp but carries custodial risk and Coinbase counterparty exposure | 10/10 | 158 | $484.5M | HOLD |
| 5 | LQTYLiquityV2 is RE-deployment after Jan 2025 bug (same auditors didn't catch it). 99% circ. BOLD $30M (<0.01%). | 10/10 | 151 | $23.3M | HOLD |
| 6 | PAXGPAX Gold1:1 gold-backed token. Each PAXG = 1 troy oz London Good Delivery gold. | 10/10 | 141 | $1.79B | HOLD |
| 7 | ORDIORDIFirst BRC-20 token on Bitcoin Ordinals; fully diluted meme with cultural value but zero protocol revenue or utility | 10/10 | 96 | $88.5M | PASS |
| 8 | WIFdogwifhatSolana's top dog meme with fully diluted supply and $200M market cap; pure meme energy with no utility, revenue, or roadmap. | 10/10 | 88 | $227.9M | PASS |
| 9 | IOTAIOTADAG-based IoT ledger that spent 6 years rebuilding its coordinator; fully diluted with no DeFi network | 10/10 | 78 | $248.2M | PASS |
| 10 | BTCBitcoinDigital gold with a large spot ETF complex and 94.5% supply mined. Store-of-value thesis intact, though ETF assets fell through 2026. | 9/10 | 183 | $1.67T | HOLD CORE |
| 11 | SYRUPMaple Finance | 9/10 | 168 | $268.1M | HOLD |
| 12 | AAVEAave | 9/10 | 156 | $2.65B | HOLD |
| 13 | VIRTUALVirtuals Protocol | 9/10 | 151 | $502.6M | CAUTIOUS HOLD |
| 14 | SKYSky (formerly Maker) | 9/10 | 141 | $1.86B | CAUTIOUS HOLD |
| 15 | ARArweave | 9/10 | 140 | $274.9M | HOLD |
| 16 | BANANABanana Gun | 9/10 | 135 | $15.5M | CAUTIOUS HOLD |
| 17 | SNXSynthetix | 9/10 | 130 | $137.5M | CAUTIOUS HOLD |
| 18 | LEOUNUS SED LEO | 9/10 | 126 | $8.19B | CAUTIOUS HOLD |
| 19 | TRXTRON | 9/10 | 125 | $31.81B | CAUTIOUS HOLD |
| 20 | COMPCompound | 9/10 | 119 | $234.1M | WATCH |
| 21 | YFIYearn Finance | 9/10 | 111 | $86.4M | WATCH |
| 22 | THETATheta Network | 9/10 | 105 | $214.2M | WATCH |
| 23 | DOGEDogecoin | 9/10 | 89 | $13.83B | PASS |
| 24 | NOTNotcoin | 9/10 | 73 | $45.0M | PASS |
| 25 | POPCATPopcat | 9/10 | 73 | $46.9M | PASS |
| 26 | DOGSDOGS | 9/10 | 62 | $22.6M | PASS |
| 27 | UNIUniswap | 8/10 | 167 | $4.91B | HOLD |
| 28 | LDOLido DAO | 8/10 | 146 | $353.8M | HOLD |
| 29 | OKBOKB | 8/10 | 145 | $2.75B | HOLD |
| 30 | GMXGMX | 8/10 | 143 | $84.3M | HOLD |
| 31 | RENDERRender Network | 8/10 | 127 | $1.05B | CAUTIOUS HOLD |
| 32 | XMRMonero | 8/10 | 117 | $10.41B | WATCH |
| 33 | MATICPolygon (Legacy) | 8/10 | 110 | $1.08B | WATCH |
| 34 | FETFetch.ai (ASI Alliance) | 8/10 | 109 | $522.8M | WATCH |
| 35 | RUNETHORChain | 8/10 | 106 | $234.5M | PASS |
| 36 | PENGUPudgy Penguins | 8/10 | 104 | $535.4M | WATCH |
| 37 | LTCLitecoin | 8/10 | 102 | $5.15B | WATCH |
| 38 | ICPInternet Computer | 8/10 | 102 | $1.75B | WATCH |
| 39 | ANKRAnkr Network | 8/10 | 96 | $46.1M | PASS |
| 40 | PEPEPepe | 8/10 | 92 | $1.70B | PASS |
| 41 | NANONano | 8/10 | 90 | $46.6M | PASS |
| 42 | XTZTezos | 8/10 | 88 | $336.3M | PASS |
| 43 | FLOKIFLOKI | 8/10 | 88 | $257.5M | PASS |
| 44 | QTUMQtum | 8/10 | 61 | $97.7M | PASS |
| 45 | NEIRONEIRO | 8/10 | 56 | $35.3M | PASS |
| 46 | MKRMaker / Sky | 7/10 | 177 | not published | HOLD CORE |
| 47 | SOLSolana | 7/10 | 170 | $68.57B | HOLD |
| 48 | COWCoW Protocol | 7/10 | 167 | $82.3M | HOLD |
| 49 | ETHFIEther.fi | 7/10 | 162 | $680.1M | HOLD |
| 50 | FLUIDFluid (Instadapp) | 7/10 | 145 | $158.2M | CAUTIOUS HOLD |
| 51 | BNBBNB | 7/10 | 144 | $102.38B | HOLD |
| 52 | CRVCurve Finance | 7/10 | 140 | $552.7M | HOLD |
| 53 | INJInjective | 7/10 | 139 | $727.9M | CAUTIOUS HOLD |
| 54 | AVAXAvalanche | 7/10 | 138 | $4.93B | CAUTIOUS HOLD |
| 55 | NEARNEAR Protocol | 7/10 | 135 | $6.64B | CAUTIOUS HOLD |
| 56 | BGBBitget Token | 7/10 | 135 | $1.37B | CAUTIOUS HOLD |
| 57 | AKTAkash Network | 7/10 | 129 | $210.6M | CAUTIOUS HOLD |
| 58 | GTGateToken | 7/10 | 123 | not published | CAUTIOUS HOLD |
| 59 | HNTHelium | 7/10 | 122 | $97.6M | CAUTIOUS HOLD |
| 60 | GRTThe Graph | 7/10 | 121 | $297.6M | CAUTIOUS HOLD |
| 61 | VELOVelodrome Finance | 7/10 | 121 | $46.1M | CAUTIOUS HOLD |
| 62 | TIACelestia | 7/10 | 120 | $432.0M | CAUTIOUS HOLD |
| 63 | CHZChiliz | 7/10 | 120 | $165.6M | CAUTIOUS HOLD |
| 64 | STXStacks | 7/10 | 118 | $697.8M | WATCH |
| 65 | QNTQuant | 7/10 | 116 | $3.53B | WATCH |
| 66 | KASKaspa | 7/10 | 114 | $1.11B | WATCH |
| 67 | ADACardano | 7/10 | 113 | $9.57B | WATCH |
| 68 | FTMFantom | 7/10 | 111 | not published | WATCH |
| 69 | STORJStorj | 7/10 | 108 | $12.3M | WATCH |
| 70 | RPLRocket Pool | 7/10 | 104 | $40.8M | WATCH |
| 71 | MLNEnzyme (Melon) | 7/10 | 104 | not published | WATCH |
| 72 | DOTPolkadot | 7/10 | 103 | $1.88B | WATCH |
| 73 | CVXConvex Finance | 7/10 | 103 | $193.9M | WATCH |
| 74 | KSMKusama | 7/10 | 103 | $90.6M | WATCH |
| 75 | ZECZcash | 7/10 | 101 | $22.59B | WATCH |
| 76 | DASHDash | 7/10 | 101 | $683.9M | WATCH |
| 77 | BADGERBadgerDAO | 7/10 | 100 | $6.4M | WATCH |
| 78 | API3API3 | 7/10 | 99 | $45.0M | PASS |
| 79 | NMRNumeraire | 7/10 | 98 | $105.4M | PASS |
| 80 | BONKBonk | 7/10 | 93 | $300.8M | PASS |
| 81 | OSMOOsmosis | 7/10 | 93 | $26.6M | PASS |
| 82 | MOBILEHelium Mobile | 7/10 | 92 | $6.0M | PASS |
| 83 | SNTStatus | 7/10 | 92 | $38.1M | PASS |
| 84 | AGLDAdventure Gold | 7/10 | 86 | $18.0M | PASS |
| 85 | EGLDMultiversX (prev. Elrond) | 7/10 | 85 | $123.2M | PASS |
| 86 | BONDBarnBridge | 7/10 | 82 | $93.5K | PASS |
| 87 | FLOWFlow | 7/10 | 78 | $53.4M | PASS |
| 88 | GEODGEODNET | 6/10 | 169 | $137.0M | HOLD |
| 89 | LINKChainlink | 6/10 | 165 | $10.01B | HOLD |
| 90 | PENDLEPendle Finance | 6/10 | 160 | $391.5M | HOLD |
| 91 | CETUSCetus Protocol | 6/10 | 147 | $25.0M | HOLD |
| 92 | ACXAcross Protocol | 6/10 | 137 | $30.5M | CAUTIOUS HOLD |
| 93 | JTOJito | 6/10 | 134 | $263.0M | CAUTIOUS HOLD |
| 94 | RAYRaydium | 6/10 | 129 | $670.5M | CAUTIOUS HOLD |
| 95 | LPTLivepeer | 6/10 | 123 | $82.2M | CAUTIOUS HOLD |
| 96 | MNDEMarinade | 6/10 | 119 | $15.6M | WATCH |
| 97 | KCSKuCoin Token | 6/10 | 119 | not published | WATCH |
| 98 | JOETrader Joe | 6/10 | 117 | $17.4M | WATCH |
| 99 | KNCKyber Network | 6/10 | 110 | $28.1M | WATCH |
| 100 | PERPPerpetual Protocol | 6/10 | 108 | $2.8M | WATCH |
| 101 | ALCXAlchemix | 6/10 | 108 | $6.6M | WATCH |
| 102 | FXSFrax Share | 6/10 | 105 | $28.3M | WATCH |
| 103 | TRUTrueFi | 6/10 | 102 | $1.1M | WATCH |
| 104 | VETVeChain | 6/10 | 101 | $692.4M | WATCH |
| 105 | HTHuobi Token | 6/10 | 98 | $16.3M | PASS |
| 106 | ALGOAlgorand | 6/10 | 97 | $1.05B | PASS |
| 107 | REQRequest | 6/10 | 97 | $42.8M | PASS |
| 108 | BALBalancer | 6/10 | 95 | $9.1M | PASS |
| 109 | ALPACAAlpaca Finance | 6/10 | 95 | $138.7K | PASS |
| 110 | INVInverse Finance | 6/10 | 95 | $6.9M | PASS |
| 111 | CELOCelo | 6/10 | 94 | $57.3M | PASS |
| 112 | RLCiExec | 6/10 | 94 | $61.1M | PASS |
| 113 | CKBNervos Network | 6/10 | 93 | $61.4M | PASS |
| 114 | 1INCH1inch Network | 6/10 | 93 | $138.1M | PASS |
| 115 | PROPPropy | 6/10 | 93 | $35.2M | PASS |
| 116 | FARMHarvest Finance | 6/10 | 93 | $5.1M | PASS |
| 117 | ALPHAAlpha Venture DAO | 6/10 | 91 | $483.2K | PASS |
| 118 | TRBTellor | 6/10 | 90 | $56.4M | PASS |
| 119 | CELRCeler Network | 6/10 | 90 | $22.9M | PASS |
| 120 | FORTHAmpleforth Governance | 6/10 | 84 | $3.0M | PASS |
| 121 | MASKMask Network | 6/10 | 82 | $45.8M | PASS |
| 122 | KAVAKava | 6/10 | 80 | $71.7M | PASS |
| 123 | LRCLoopring | 6/10 | 78 | $13.2M | PASS |
| 124 | IDEXIDEX | 6/10 | 77 | $838.1K | PASS |
| 125 | MCBMCDEX | 6/10 | 76 | $8.9M | PASS |
| 126 | SUSHISushiSwap | 6/10 | 74 | $66.7M | PASS |
| 127 | BANDBand Protocol | 6/10 | 73 | $40.8M | PASS |
| 128 | JASMYJasmyCoin | 6/10 | 67 | $243.3M | PASS |
| 129 | MANADecentraland | 6/10 | 66 | $197.1M | PASS |
| 130 | ZILZilliqa | 6/10 | 63 | $64.9M | PASS |
| 131 | SPELLSpell Token | 6/10 | 63 | $16.0M | PASS |
| 132 | SANDThe Sandbox | 6/10 | 58 | $219.2M | PASS |
| 133 | MEMEMemecoin | 6/10 | 57 | $36.6M | PASS |
| 134 | ONEHarmony | 6/10 | 48 | $32.9M | PASS |
| 135 | AEROAerodrome Finance | 5/10 | 157 | $794.7M | HOLD |
| 136 | MORPHOMorpho | 5/10 | 157 | $1.75B | HOLD |
| 137 | KMNOKamino Finance | 5/10 | 138 | $214.9M | CAUTIOUS HOLD |
| 138 | ARBArbitrum | 5/10 | 134 | $1.25B | CAUTIOUS HOLD |
| 139 | OLASOlas (Autonolas) | 5/10 | 129 | $13.4M | CAUTIOUS HOLD |
| 140 | CAKEPancakeSwap | 5/10 | 123 | $698.0M | CAUTIOUS HOLD |
| 141 | ORCAOrca | 5/10 | 123 | $167.2M | CAUTIOUS HOLD |
| 142 | MAVMaverick Protocol | 5/10 | 121 | $13.1M | CAUTIOUS HOLD |
| 143 | VRTXVertex Protocol | 5/10 | 121 | not published | CAUTIOUS HOLD |
| 144 | PRIMEEchelon Prime | 5/10 | 119 | $14.8M | WATCH |
| 145 | WOOWOO Network | 5/10 | 118 | $23.6M | WATCH |
| 146 | IMXImmutable X | 5/10 | 117 | $156.3M | WATCH |
| 147 | STGStargate Finance | 5/10 | 117 | $20.1M | WATCH |
| 148 | CFGCentrifuge | 5/10 | 115 | not published | WATCH |
| 149 | HBARHedera | 5/10 | 112 | $4.09B | WATCH |
| 150 | DYDXdYdX | 5/10 | 109 | $113.2M | WATCH |
| 151 | BICOBiconomy | 5/10 | 109 | $20.1M | WATCH |
| 152 | XLMStellar | 5/10 | 108 | $7.01B | WATCH |
| 153 | VELAVela Exchange | 5/10 | 107 | not published | WATCH |
| 154 | GELGelato | 5/10 | 107 | $498.0K | WATCH |
| 155 | SLNDSolend | 5/10 | 106 | not published | WATCH |
| 156 | GTCGitcoin | 5/10 | 106 | $15.9M | WATCH |
| 157 | QUICKQuickSwap | 5/10 | 105 | $7.0M | WATCH |
| 158 | RDNTRadiant Capital | 5/10 | 104 | $1.0M | WATCH |
| 159 | RONRonin | 5/10 | 104 | $49.1M | WATCH |
| 160 | RSRReserve Rights | 5/10 | 104 | $100.3M | WATCH |
| 161 | KLAYKlaytn | 5/10 | 103 | not published | WATCH |
| 162 | SHDWShadow Token | 5/10 | 103 | $5.3M | WATCH |
| 163 | CROCronos | 5/10 | 102 | $3.12B | WATCH |
| 164 | APEApeCoin | 5/10 | 102 | $146.9M | WATCH |
| 165 | ILVIlluvium | 5/10 | 101 | $31.5M | WATCH |
| 166 | MCMerit Circle (Beam) | 5/10 | 101 | not published | WATCH |
| 167 | GMTSTEPN | 5/10 | 101 | $25.0M | WATCH |
| 168 | AUDIOAudius | 5/10 | 101 | $22.7M | WATCH |
| 169 | MINAMina Protocol | 5/10 | 98 | $121.4M | PASS |
| 170 | IOTXIoTeX | 5/10 | 98 | $34.2M | PASS |
| 171 | COTICOTI | 5/10 | 97 | $39.1M | PASS |
| 172 | SKLSKALE | 5/10 | 97 | $26.6M | PASS |
| 173 | ACHAlchemy Pay | 5/10 | 97 | not published | PASS |
| 174 | RADRadicle | 5/10 | 97 | $19.5M | PASS |
| 175 | POOLPoolTogether | 5/10 | 96 | $176.3K | PASS |
| 176 | FLUXFlux | 5/10 | 96 | $191.3K | PASS |
| 177 | CTSICartesi | 5/10 | 96 | $27.7M | PASS |
| 178 | YGGYield Guild Games | 5/10 | 95 | $22.5M | PASS |
| 179 | POLYXPolymesh | 5/10 | 95 | $52.9M | PASS |
| 180 | GLMRMoonbeam | 5/10 | 94 | $13.9M | PASS |
| 181 | MXMEXC Token | 5/10 | 94 | not published | PASS |
| 182 | MBOXMOBOX | 5/10 | 92 | $298.5K | PASS |
| 183 | HOPRHOPR | 5/10 | 92 | $8.7M | PASS |
| 184 | PONDMarlin | 5/10 | 91 | $14.2M | PASS |
| 185 | ETCEthereum Classic | 5/10 | 90 | $1.32B | PASS |
| 186 | ALICEMy Neighbor Alice | 5/10 | 89 | $16.9M | PASS |
| 187 | HIGHHighstreet | 5/10 | 88 | not published | PASS |
| 188 | SXPSolar | 5/10 | 88 | $2.5M | PASS |
| 189 | DENTDent | 5/10 | 88 | $6.2M | PASS |
| 190 | BLASTBlast | 5/10 | 87 | $4.9M | PASS |
| 191 | LEVERLeverFi | 5/10 | 87 | not published | PASS |
| 192 | NOSNosana | 5/10 | 86 | $52.5M | PASS |
| 193 | CANTOCanto | 5/10 | 86 | $2.0M | PASS |
| 194 | ROSEOasis Network | 5/10 | 84 | $62.0M | PASS |
| 195 | WAXPWAX | 5/10 | 81 | $26.9M | PASS |
| 196 | MANTAManta Network | 5/10 | 76 | $31.1M | PASS |
| 197 | RVNRavencoin | 5/10 | 74 | $36.1M | PASS |
| 198 | SHIBShiba Inu | 5/10 | 71 | $3.17B | PASS |
| 199 | NEONeo | 5/10 | 68 | $166.5M | PASS |
| 200 | RBNRibbon Finance | 5/10 | 68 | $1.7M | PASS |
| 201 | SUPERSuperVerse | 5/10 | 67 | $144.5M | PASS |
| 202 | KDAKadena | 5/10 | 50 | $3.0M | PASS |
| 203 | HYPEHyperliquid | 4/10 | 193 | $19.71B | HOLD CORE |
| 204 | BERABerachain | 4/10 | 127 | $76.8M | CAUTIOUS HOLD |
| 205 | POLPolygon system Token | 4/10 | 123 | $1.08B | CAUTIOUS HOLD |
| 206 | XRPXRP | 4/10 | 121 | $90.31B | CAUTIOUS HOLD |
| 207 | ENAEthena | 4/10 | 120 | $3.06B | CAUTIOUS HOLD |
| 208 | SSonic (prev. Fantom) | 4/10 | 115 | $154.2M | WATCH |
| 209 | TNSRTensor | 4/10 | 112 | $27.8M | WATCH |
| 210 | GRASSGrass | 4/10 | 111 | $457.9M | WATCH |
| 211 | TONToncoin | 4/10 | 110 | $4.02B | WATCH |
| 212 | OMMANTRA | 4/10 | 108 | $29.1M | WATCH |
| 213 | PYTHPyth Network | 4/10 | 107 | $557.2M | WATCH |
| 214 | ATHAethir | 4/10 | 101 | $132.9M | WATCH |
| 215 | USUALUsual Protocol | 4/10 | 99 | $23.6M | PASS |
| 216 | FLRFlare | 4/10 | 99 | $609.8M | PASS |
| 217 | CFXConflux | 4/10 | 98 | $265.8M | PASS |
| 218 | ATOMCosmos | 4/10 | 96 | $899.5M | PASS |
| 219 | PEAQpeaq | 4/10 | 88 | $102.2M | PASS |
| 220 | GOGGuild of Guardians | 4/10 | 86 | $960.1K | PASS |
| 221 | PRCLParcl | 4/10 | 80 | $5.5M | PASS |
| 222 | AXSAxie Infinity | 4/10 | 76 | $207.3M | PASS |
| 223 | BTTBitTorrent | 4/10 | 76 | $357.4M | PASS |
| 224 | MODEMode Network | 4/10 | 72 | $666.9K | PASS |
| 225 | JUPJupiter | 3/10 | 151 | $1.04B | HOLD |
| 226 | SUISui | 3/10 | 146 | $4.63B | HOLD |
| 227 | DRIFTDrift Protocol | 3/10 | 142 | $14.3M | HOLD |
| 228 | ENSEthereum Name Service | 3/10 | 137 | $269.1M | CAUTIOUS HOLD |
| 229 | TAOBittensor | 3/10 | 128 | $3.29B | CAUTIOUS HOLD |
| 230 | LITLighter | 3/10 | 125 | $876.5M | WATCH |
| 231 | OPOptimism | 3/10 | 123 | $273.9M | CAUTIOUS HOLD |
| 232 | APTAptos | 3/10 | 116 | $652.3M | WATCH |
| 233 | GNSGains Network | 3/10 | 116 | $9.5M | WATCH |
| 234 | SSVSSV Network | 3/10 | 106 | $42.1M | WATCH |
| 235 | FILFilecoin | 3/10 | 101 | $867.2M | WATCH |
| 236 | SEISei | 3/10 | 100 | $457.3M | WATCH |
| 237 | CORECore | 3/10 | 100 | $29.2M | WATCH |
| 238 | BLURBlur | 3/10 | 84 | $55.8M | PASS |
| 239 | MOVEMovement | 3/10 | 67 | $40.6M | PASS |
| 240 | GALAGala Games | 3/10 | 53 | $114.2M | PASS |
| 241 | SAFESafe (formerly Gnosis Safe) | 2/10 | 132 | $84.0M | CAUTIOUS HOLD |
| 242 | GNOGnosis | 2/10 | 128 | $316.6M | CAUTIOUS HOLD |
| 243 | ONDOOndo Finance | 2/10 | 115 | $2.27B | WATCH |
| 244 | IOio.net | 2/10 | 108 | $63.1M | WATCH |
| 245 | ZROLayerZero | 2/10 | 106 | $850.4M | WATCH |
| 246 | SCROLLScroll | 2/10 | 102 | $4.7M | WATCH |
| 247 | ZKZKsync | 2/10 | 95 | $129.1M | PASS |
| 248 | STRKStarknet | 2/10 | 93 | $366.4M | PASS |
| 249 | EIGENEigenLayer | 1/10 | 107 | $226.1M | WATCH |
| 250 | WWormhole | 1/10 | 92 | $93.6M | PASS |
| 251 | WLDWorldcoin | 1/10 | 89 | $1.96B | PASS |
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 circulating / fdv ratio?
- Ethereum (ETH) at 10, Wrapped Lido Staked ETH (WSTETH) at 10, Rocket Pool ETH (RETH) at 10, Coinbase Wrapped Staked ETH (CBETH) at 10, Liquity (LQTY) at 10 lead the 251 rated tokens on Circulating / FDV Ratio, each scored 1 to 10 against the same definition.
- What is a good circulating / fdv ratio score?
- The median across the universe is 6 of 10 and the mean is 5.84, so anything at 7 or above sits well inside the top of the distribution. Only 26 of 251 tokens reach 9 or 10.
- Does circulating / fdv ratio affect a token's market cap?
- Rank correlation between Circulating / FDV Ratio and market capitalisation is 0.19 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.