Position
Competitive Moat, ranked
What stops a funded team from copying the protocol and taking its users.
One of the 25 variables in the framework. 251 tokens rated. Scoring pass 18 Sept 2026.
Median
4/10
mean 4.39
Scoring 9 or 10
4
of 251 rated
Composite link
0.84
correlation with total score
Market link
0.39
rank correlation with market cap, n=236
01
What this variable measures
What stops a funded team from copying the protocol and taking its users.
A 10 means liquidity, distribution or switching costs that a fork does not inherit. A 1 means the product is the code and the code is public.
In an industry where the source is open, the moat is never the software. It is worth checking what is left.
02
What the universe says
Across 251 rated tokens the median score on Competitive Moat is 4 of 10 and the mean is 4.39. 4 tokens score 9 or 10, and 29 score 2 or below. Bitcoin leads at 10 of 10.
Competitive Moat correlates 0.84 with the composite score across the universe, which makes it almost the same measurement as overall standing. Tokens that win here tend to win everywhere, so a high score is confirmation rather than an edge.
Against live market capitalisation for the 236 tokens with a matched market row, Competitive Moat carries a rank correlation of 0.39. The market leans this way but does not price it consistently, so the ranking below still contains disagreement worth using.
Competitive Moat and Smart Money Flows 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.
Pendle Finance (PENDLE) scores 9 of 10 on Competitive Moat, 2nd 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
101
192
483
614
575
286
157
98
39
110
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 | Competitive Moat | Composite | Market cap | Verdict |
|---|---|---|---|---|---|
| 1 | BTCBitcoinDigital gold with a large spot ETF complex and 94.5% supply mined. Store-of-value thesis intact, though ETF assets fell through 2026. | 10/10 | 183 | $1.67T | HOLD CORE |
| 2 | HYPEHyperliquid3 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. | 9/10 | 193 | $19.71B | HOLD CORE |
| 3 | LINKChainlink70% oracle dominance. DTCC Q4 2026. SOC 2 Type 2. $500M/yr treasury sell pressure. 2 ETFs live. | 9/10 | 165 | $10.01B | HOLD |
| 4 | PENDLEPendle FinanceDeFi's yield monopoly: 50-60% market share, $24.4M trailing rev, sPENDLE 80% buyback (9.3% yield). Fortune 2026 Innovators. Vietnam IFC w/ BlackRock/MS. 21Shares ETP live. Boros V3 $10B+ vol. All vesting complete. Net dollar-deflationary. | 9/10 | 160 | $391.5M | HOLD |
| 5 | ETHEthereumInstitutional settlement layer. Commodity classification. Burn collapsed but moat intact. | 8/10 | 187 | $313.17B | HOLD CORE |
| 6 | 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 | 8/10 | 185 | $11.76B | HOLD CORE |
| 7 | MKRMaker / 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. | 8/10 | 177 | not published | HOLD CORE |
| 8 | COWCoW ProtocolIntent-based batch auction DEX. $87B vol 2025. P/S 3.1x. Net deflationary. Vesting complete. | 8/10 | 167 | $82.3M | HOLD |
| 9 | JUPJupiterS39 validated: Solana's DeFi superapp. 93.6% aggregator share, $2.9B TVL. Revenue declining -78% but net-zero emissions + vesting done. | 8/10 | 151 | $1.04B | HOLD |
| 10 | FLUIDFluid (Instadapp)Unique Smart Collateral/Debt DeFi primitive (39x capital efficiency). $12.66M rev trailing but $5.6M current run rate (declining -63%). Buybacks halted post-Resolv ($21M bad debt). TVL -92% from peak. P/S 6.8x trailing / 15.4x current. Zero inflation, 78.7% circ. Top-tier VCs (Pantera, Naval, Coinbase). 55% stablecoin swap share. | 8/10 | 145 | $158.2M | CAUTIOUS HOLD |
| 11 | CRVCurve Finance | 8/10 | 140 | $552.7M | HOLD |
| 12 | SAFESafe (formerly Gnosis Safe) | 8/10 | 132 | $84.0M | CAUTIOUS HOLD |
| 13 | XMRMonero | 8/10 | 117 | $10.41B | WATCH |
| 14 | SOLSolana | 7/10 | 170 | $68.57B | HOLD |
| 15 | GEODGEODNET | 7/10 | 169 | $137.0M | HOLD |
| 16 | SYRUPMaple Finance | 7/10 | 168 | $268.1M | HOLD |
| 17 | UNIUniswap | 7/10 | 167 | $4.91B | HOLD |
| 18 | AEROAerodrome Finance | 7/10 | 157 | $794.7M | HOLD |
| 19 | MORPHOMorpho | 7/10 | 157 | $1.75B | HOLD |
| 20 | AAVEAave | 7/10 | 156 | $2.65B | HOLD |
| 21 | CETUSCetus Protocol | 7/10 | 147 | $25.0M | HOLD |
| 22 | SUISui | 7/10 | 146 | $4.63B | HOLD |
| 23 | LDOLido DAO | 7/10 | 146 | $353.8M | HOLD |
| 24 | PAXGPAX Gold | 7/10 | 141 | $1.79B | HOLD |
| 25 | ARArweave | 7/10 | 140 | $274.9M | HOLD |
| 26 | ENSEthereum Name Service | 7/10 | 137 | $269.1M | CAUTIOUS HOLD |
| 27 | CHZChiliz | 7/10 | 120 | $165.6M | CAUTIOUS HOLD |
| 28 | TONToncoin | 7/10 | 110 | $4.02B | WATCH |
| 29 | ETHFIEther.fi | 6/10 | 162 | $680.1M | HOLD |
| 30 | RETHRocket Pool ETH | 6/10 | 159 | $946.8M | HOLD |
| 31 | OKBOKB | 6/10 | 145 | $2.75B | HOLD |
| 32 | BNBBNB | 6/10 | 144 | $102.38B | HOLD |
| 33 | DRIFTDrift Protocol | 6/10 | 142 | $14.3M | HOLD |
| 34 | SKYSky (formerly Maker) | 6/10 | 141 | $1.86B | CAUTIOUS HOLD |
| 35 | KMNOKamino Finance | 6/10 | 138 | $214.9M | CAUTIOUS HOLD |
| 36 | AVAXAvalanche | 6/10 | 138 | $4.93B | CAUTIOUS HOLD |
| 37 | JTOJito | 6/10 | 134 | $263.0M | CAUTIOUS HOLD |
| 38 | OLASOlas (Autonolas) | 6/10 | 129 | $13.4M | CAUTIOUS HOLD |
| 39 | GNOGnosis | 6/10 | 128 | $316.6M | CAUTIOUS HOLD |
| 40 | TAOBittensor | 6/10 | 128 | $3.29B | CAUTIOUS HOLD |
| 41 | BERABerachain | 6/10 | 127 | $76.8M | CAUTIOUS HOLD |
| 42 | TRXTRON | 6/10 | 125 | $31.81B | CAUTIOUS HOLD |
| 43 | LITLighter | 6/10 | 125 | $876.5M | WATCH |
| 44 | OPOptimism | 6/10 | 123 | $273.9M | CAUTIOUS HOLD |
| 45 | LPTLivepeer | 6/10 | 123 | $82.2M | CAUTIOUS HOLD |
| 46 | HNTHelium | 6/10 | 122 | $97.6M | CAUTIOUS HOLD |
| 47 | STXStacks | 6/10 | 118 | $697.8M | WATCH |
| 48 | QNTQuant | 6/10 | 116 | $3.53B | WATCH |
| 49 | ONDOOndo Finance | 6/10 | 115 | $2.27B | WATCH |
| 50 | KASKaspa | 6/10 | 114 | $1.11B | WATCH |
| 51 | EIGENEigenLayer | 6/10 | 107 | $226.1M | WATCH |
| 52 | RUNETHORChain | 6/10 | 106 | $234.5M | PASS |
| 53 | SSVSSV Network | 6/10 | 106 | $42.1M | WATCH |
| 54 | CFXConflux | 6/10 | 98 | $265.8M | PASS |
| 55 | MINAMina Protocol | 6/10 | 98 | $121.4M | PASS |
| 56 | STRKStarknet | 6/10 | 93 | $366.4M | PASS |
| 57 | CBETHCoinbase Wrapped Staked ETH | 5/10 | 158 | $484.5M | HOLD |
| 58 | VIRTUALVirtuals Protocol | 5/10 | 151 | $502.6M | CAUTIOUS HOLD |
| 59 | LQTYLiquity | 5/10 | 151 | $23.3M | HOLD |
| 60 | GMXGMX | 5/10 | 143 | $84.3M | HOLD |
| 61 | ACXAcross Protocol | 5/10 | 137 | $30.5M | CAUTIOUS HOLD |
| 62 | NEARNEAR Protocol | 5/10 | 135 | $6.64B | CAUTIOUS HOLD |
| 63 | BGBBitget Token | 5/10 | 135 | $1.37B | CAUTIOUS HOLD |
| 64 | ARBArbitrum | 5/10 | 134 | $1.25B | CAUTIOUS HOLD |
| 65 | RENDERRender Network | 5/10 | 127 | $1.05B | CAUTIOUS HOLD |
| 66 | LEOUNUS SED LEO | 5/10 | 126 | $8.19B | CAUTIOUS HOLD |
| 67 | POLPolygon system Token | 5/10 | 123 | $1.08B | CAUTIOUS HOLD |
| 68 | CAKEPancakeSwap | 5/10 | 123 | $698.0M | CAUTIOUS HOLD |
| 69 | GTGateToken | 5/10 | 123 | not published | CAUTIOUS HOLD |
| 70 | ORCAOrca | 5/10 | 123 | $167.2M | CAUTIOUS HOLD |
| 71 | GRTThe Graph | 5/10 | 121 | $297.6M | CAUTIOUS HOLD |
| 72 | XRPXRP | 5/10 | 121 | $90.31B | CAUTIOUS HOLD |
| 73 | MAVMaverick Protocol | 5/10 | 121 | $13.1M | CAUTIOUS HOLD |
| 74 | VRTXVertex Protocol | 5/10 | 121 | not published | CAUTIOUS HOLD |
| 75 | ENAEthena | 5/10 | 120 | $3.06B | CAUTIOUS HOLD |
| 76 | TIACelestia | 5/10 | 120 | $432.0M | CAUTIOUS HOLD |
| 77 | PRIMEEchelon Prime | 5/10 | 119 | $14.8M | WATCH |
| 78 | MNDEMarinade | 5/10 | 119 | $15.6M | WATCH |
| 79 | KCSKuCoin Token | 5/10 | 119 | not published | WATCH |
| 80 | IMXImmutable X | 5/10 | 117 | $156.3M | WATCH |
| 81 | STGStargate Finance | 5/10 | 117 | $20.1M | WATCH |
| 82 | JOETrader Joe | 5/10 | 117 | $17.4M | WATCH |
| 83 | APTAptos | 5/10 | 116 | $652.3M | WATCH |
| 84 | GNSGains Network | 5/10 | 116 | $9.5M | WATCH |
| 85 | CFGCentrifuge | 5/10 | 115 | not published | WATCH |
| 86 | HBARHedera | 5/10 | 112 | $4.09B | WATCH |
| 87 | TNSRTensor | 5/10 | 112 | $27.8M | WATCH |
| 88 | GRASSGrass | 5/10 | 111 | $457.9M | WATCH |
| 89 | BICOBiconomy | 5/10 | 109 | $20.1M | WATCH |
| 90 | IOio.net | 5/10 | 108 | $63.1M | WATCH |
| 91 | STORJStorj | 5/10 | 108 | $12.3M | WATCH |
| 92 | ALCXAlchemix | 5/10 | 108 | $6.6M | WATCH |
| 93 | XLMStellar | 5/10 | 108 | $7.01B | WATCH |
| 94 | PYTHPyth Network | 5/10 | 107 | $557.2M | WATCH |
| 95 | GELGelato | 5/10 | 107 | $498.0K | WATCH |
| 96 | GTCGitcoin | 5/10 | 106 | $15.9M | WATCH |
| 97 | MLNEnzyme (Melon) | 5/10 | 104 | not published | WATCH |
| 98 | SCROLLScroll | 5/10 | 102 | $4.7M | WATCH |
| 99 | ICPInternet Computer | 5/10 | 102 | $1.75B | WATCH |
| 100 | APEApeCoin | 5/10 | 102 | $146.9M | WATCH |
| 101 | FILFilecoin | 5/10 | 101 | $867.2M | WATCH |
| 102 | ZECZcash | 5/10 | 101 | $22.59B | WATCH |
| 103 | ILVIlluvium | 5/10 | 101 | $31.5M | WATCH |
| 104 | AUDIOAudius | 5/10 | 101 | $22.7M | WATCH |
| 105 | CORECore | 5/10 | 100 | $29.2M | WATCH |
| 106 | NMRNumeraire | 5/10 | 98 | $105.4M | PASS |
| 107 | RADRadicle | 5/10 | 97 | $19.5M | PASS |
| 108 | POOLPoolTogether | 5/10 | 96 | $176.3K | PASS |
| 109 | ZKZKsync | 5/10 | 95 | $129.1M | PASS |
| 110 | POLYXPolymesh | 5/10 | 95 | $52.9M | PASS |
| 111 | CKBNervos Network | 5/10 | 93 | $61.4M | PASS |
| 112 | WWormhole | 5/10 | 92 | $93.6M | PASS |
| 113 | WLDWorldcoin | 5/10 | 89 | $1.96B | PASS |
| 114 | BANANABanana Gun | 4/10 | 135 | $15.5M | CAUTIOUS HOLD |
| 115 | RAYRaydium | 4/10 | 129 | $670.5M | CAUTIOUS HOLD |
| 116 | AKTAkash Network | 4/10 | 129 | $210.6M | CAUTIOUS HOLD |
| 117 | VELOVelodrome Finance | 4/10 | 121 | $46.1M | CAUTIOUS HOLD |
| 118 | WOOWOO Network | 4/10 | 118 | $23.6M | WATCH |
| 119 | SSonic (prev. Fantom) | 4/10 | 115 | $154.2M | WATCH |
| 120 | YFIYearn Finance | 4/10 | 111 | $86.4M | WATCH |
| 121 | FTMFantom | 4/10 | 111 | not published | WATCH |
| 122 | KNCKyber Network | 4/10 | 110 | $28.1M | WATCH |
| 123 | DYDXdYdX | 4/10 | 109 | $113.2M | WATCH |
| 124 | PERPPerpetual Protocol | 4/10 | 108 | $2.8M | WATCH |
| 125 | OMMANTRA | 4/10 | 108 | $29.1M | WATCH |
| 126 | VELAVela Exchange | 4/10 | 107 | not published | WATCH |
| 127 | SLNDSolend | 4/10 | 106 | not published | WATCH |
| 128 | FXSFrax Share | 4/10 | 105 | $28.3M | WATCH |
| 129 | QUICKQuickSwap | 4/10 | 105 | $7.0M | WATCH |
| 130 | RPLRocket Pool | 4/10 | 104 | $40.8M | WATCH |
| 131 | PENGUPudgy Penguins | 4/10 | 104 | $535.4M | WATCH |
| 132 | RDNTRadiant Capital | 4/10 | 104 | $1.0M | WATCH |
| 133 | RONRonin | 4/10 | 104 | $49.1M | WATCH |
| 134 | RSRReserve Rights | 4/10 | 104 | $100.3M | WATCH |
| 135 | DOTPolkadot | 4/10 | 103 | $1.88B | WATCH |
| 136 | KLAYKlaytn | 4/10 | 103 | not published | WATCH |
| 137 | KSMKusama | 4/10 | 103 | $90.6M | WATCH |
| 138 | SHDWShadow Token | 4/10 | 103 | $5.3M | WATCH |
| 139 | CROCronos | 4/10 | 102 | $3.12B | WATCH |
| 140 | TRUTrueFi | 4/10 | 102 | $1.1M | WATCH |
| 141 | VETVeChain | 4/10 | 101 | $692.4M | WATCH |
| 142 | ATHAethir | 4/10 | 101 | $132.9M | WATCH |
| 143 | MCMerit Circle (Beam) | 4/10 | 101 | not published | WATCH |
| 144 | DASHDash | 4/10 | 101 | $683.9M | WATCH |
| 145 | GMTSTEPN | 4/10 | 101 | $25.0M | WATCH |
| 146 | SEISei | 4/10 | 100 | $457.3M | WATCH |
| 147 | BADGERBadgerDAO | 4/10 | 100 | $6.4M | WATCH |
| 148 | USUALUsual Protocol | 4/10 | 99 | $23.6M | PASS |
| 149 | FLRFlare | 4/10 | 99 | $609.8M | PASS |
| 150 | HTHuobi Token | 4/10 | 98 | $16.3M | PASS |
| 151 | IOTXIoTeX | 4/10 | 98 | $34.2M | PASS |
| 152 | ALGOAlgorand | 4/10 | 97 | $1.05B | PASS |
| 153 | COTICOTI | 4/10 | 97 | $39.1M | PASS |
| 154 | SKLSKALE | 4/10 | 97 | $26.6M | PASS |
| 155 | REQRequest | 4/10 | 97 | $42.8M | PASS |
| 156 | FLUXFlux | 4/10 | 96 | $191.3K | PASS |
| 157 | CTSICartesi | 4/10 | 96 | $27.7M | PASS |
| 158 | YGGYield Guild Games | 4/10 | 95 | $22.5M | PASS |
| 159 | INVInverse Finance | 4/10 | 95 | $6.9M | PASS |
| 160 | GLMRMoonbeam | 4/10 | 94 | $13.9M | PASS |
| 161 | RLCiExec | 4/10 | 94 | $61.1M | PASS |
| 162 | OSMOOsmosis | 4/10 | 93 | $26.6M | PASS |
| 163 | PROPPropy | 4/10 | 93 | $35.2M | PASS |
| 164 | MOBILEHelium Mobile | 4/10 | 92 | $6.0M | PASS |
| 165 | PEPEPepe | 4/10 | 92 | $1.70B | PASS |
| 166 | HOPRHOPR | 4/10 | 92 | $8.7M | PASS |
| 167 | SNTStatus | 4/10 | 92 | $38.1M | PASS |
| 168 | NANONano | 4/10 | 90 | $46.6M | PASS |
| 169 | ETCEthereum Classic | 4/10 | 90 | $1.32B | PASS |
| 170 | CANTOCanto | 4/10 | 86 | $2.0M | PASS |
| 171 | ROSEOasis Network | 4/10 | 84 | $62.0M | PASS |
| 172 | BLURBlur | 4/10 | 84 | $55.8M | PASS |
| 173 | PRCLParcl | 4/10 | 80 | $5.5M | PASS |
| 174 | BTTBitTorrent | 4/10 | 76 | $357.4M | PASS |
| 175 | INJInjective | 3/10 | 139 | $727.9M | CAUTIOUS HOLD |
| 176 | SNXSynthetix | 3/10 | 130 | $137.5M | CAUTIOUS HOLD |
| 177 | COMPCompound | 3/10 | 119 | $234.1M | WATCH |
| 178 | ADACardano | 3/10 | 113 | $9.57B | WATCH |
| 179 | MATICPolygon (Legacy) | 3/10 | 110 | $1.08B | WATCH |
| 180 | ZROLayerZero | 3/10 | 106 | $850.4M | WATCH |
| 181 | CVXConvex Finance | 3/10 | 103 | $193.9M | WATCH |
| 182 | LTCLitecoin | 3/10 | 102 | $5.15B | WATCH |
| 183 | API3API3 | 3/10 | 99 | $45.0M | PASS |
| 184 | ACHAlchemy Pay | 3/10 | 97 | not published | PASS |
| 185 | ORDIORDI | 3/10 | 96 | $88.5M | PASS |
| 186 | ANKRAnkr Network | 3/10 | 96 | $46.1M | PASS |
| 187 | ATOMCosmos | 3/10 | 96 | $899.5M | PASS |
| 188 | BALBalancer | 3/10 | 95 | $9.1M | PASS |
| 189 | ALPACAAlpaca Finance | 3/10 | 95 | $138.7K | PASS |
| 190 | CELOCelo | 3/10 | 94 | $57.3M | PASS |
| 191 | MXMEXC Token | 3/10 | 94 | not published | PASS |
| 192 | 1INCH1inch Network | 3/10 | 93 | $138.1M | PASS |
| 193 | FARMHarvest Finance | 3/10 | 93 | $5.1M | PASS |
| 194 | MBOXMOBOX | 3/10 | 92 | $298.5K | PASS |
| 195 | ALPHAAlpha Venture DAO | 3/10 | 91 | $483.2K | PASS |
| 196 | PONDMarlin | 3/10 | 91 | $14.2M | PASS |
| 197 | TRBTellor | 3/10 | 90 | $56.4M | PASS |
| 198 | CELRCeler Network | 3/10 | 90 | $22.9M | PASS |
| 199 | ALICEMy Neighbor Alice | 3/10 | 89 | $16.9M | PASS |
| 200 | XTZTezos | 3/10 | 88 | $336.3M | PASS |
| 201 | PEAQpeaq | 3/10 | 88 | $102.2M | PASS |
| 202 | HIGHHighstreet | 3/10 | 88 | not published | PASS |
| 203 | SXPSolar | 3/10 | 88 | $2.5M | PASS |
| 204 | DENTDent | 3/10 | 88 | $6.2M | PASS |
| 205 | BLASTBlast | 3/10 | 87 | $4.9M | PASS |
| 206 | LEVERLeverFi | 3/10 | 87 | not published | PASS |
| 207 | NOSNosana | 3/10 | 86 | $52.5M | PASS |
| 208 | GOGGuild of Guardians | 3/10 | 86 | $960.1K | PASS |
| 209 | AGLDAdventure Gold | 3/10 | 86 | $18.0M | PASS |
| 210 | EGLDMultiversX (prev. Elrond) | 3/10 | 85 | $123.2M | PASS |
| 211 | FORTHAmpleforth Governance | 3/10 | 84 | $3.0M | PASS |
| 212 | MASKMask Network | 3/10 | 82 | $45.8M | PASS |
| 213 | BONDBarnBridge | 3/10 | 82 | $93.5K | PASS |
| 214 | WAXPWAX | 3/10 | 81 | $26.9M | PASS |
| 215 | KAVAKava | 3/10 | 80 | $71.7M | PASS |
| 216 | LRCLoopring | 3/10 | 78 | $13.2M | PASS |
| 217 | IDEXIDEX | 3/10 | 77 | $838.1K | PASS |
| 218 | MANTAManta Network | 3/10 | 76 | $31.1M | PASS |
| 219 | AXSAxie Infinity | 3/10 | 76 | $207.3M | PASS |
| 220 | MCBMCDEX | 3/10 | 76 | $8.9M | PASS |
| 221 | RVNRavencoin | 3/10 | 74 | $36.1M | PASS |
| 222 | MOVEMovement | 3/10 | 67 | $40.6M | PASS |
| 223 | FETFetch.ai (ASI Alliance) | 2/10 | 109 | $522.8M | WATCH |
| 224 | THETATheta Network | 2/10 | 105 | $214.2M | WATCH |
| 225 | BONKBonk | 2/10 | 93 | $300.8M | PASS |
| 226 | DOGEDogecoin | 2/10 | 89 | $13.83B | PASS |
| 227 | FLOKIFLOKI | 2/10 | 88 | $257.5M | PASS |
| 228 | WIFdogwifhat | 2/10 | 88 | $227.9M | PASS |
| 229 | IOTAIOTA | 2/10 | 78 | $248.2M | PASS |
| 230 | SUSHISushiSwap | 2/10 | 74 | $66.7M | PASS |
| 231 | BANDBand Protocol | 2/10 | 73 | $40.8M | PASS |
| 232 | MODEMode Network | 2/10 | 72 | $666.9K | PASS |
| 233 | NEONeo | 2/10 | 68 | $166.5M | PASS |
| 234 | RBNRibbon Finance | 2/10 | 68 | $1.7M | PASS |
| 235 | SUPERSuperVerse | 2/10 | 67 | $144.5M | PASS |
| 236 | JASMYJasmyCoin | 2/10 | 67 | $243.3M | PASS |
| 237 | MANADecentraland | 2/10 | 66 | $197.1M | PASS |
| 238 | SPELLSpell Token | 2/10 | 63 | $16.0M | PASS |
| 239 | SANDThe Sandbox | 2/10 | 58 | $219.2M | PASS |
| 240 | GALAGala Games | 2/10 | 53 | $114.2M | PASS |
| 241 | KDAKadena | 2/10 | 50 | $3.0M | PASS |
| 242 | FLOWFlow | 1/10 | 78 | $53.4M | PASS |
| 243 | NOTNotcoin | 1/10 | 73 | $45.0M | PASS |
| 244 | POPCATPopcat | 1/10 | 73 | $46.9M | PASS |
| 245 | SHIBShiba Inu | 1/10 | 71 | $3.17B | PASS |
| 246 | ZILZilliqa | 1/10 | 63 | $64.9M | PASS |
| 247 | DOGSDOGS | 1/10 | 62 | $22.6M | PASS |
| 248 | QTUMQtum | 1/10 | 61 | $97.7M | PASS |
| 249 | MEMEMemecoin | 1/10 | 57 | $36.6M | PASS |
| 250 | NEIRONEIRO | 1/10 | 56 | $35.3M | PASS |
| 251 | ONEHarmony | 1/10 | 48 | $32.9M | 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 competitive moat?
- Bitcoin (BTC) at 10, Hyperliquid (HYPE) at 9, Chainlink (LINK) at 9, Pendle Finance (PENDLE) at 9, Ethereum (ETH) at 8 lead the 251 rated tokens on Competitive Moat, each scored 1 to 10 against the same definition.
- What is a good competitive moat score?
- The median across the universe is 4 of 10 and the mean is 4.39, so anything at 7 or above sits well inside the top of the distribution. Only 4 of 251 tokens reach 9 or 10.
- Does competitive moat affect a token's market cap?
- Rank correlation between Competitive Moat and market capitalisation is 0.39 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.