Position
Institutional Adoption, ranked
Regulated exposure: funds, listed vehicles, disclosed corporate holdings and custody support.
One of the 25 variables in the framework. 251 tokens rated. Scoring pass 18 Sept 2026.
Median
3/10
mean 3.79
Scoring 9 or 10
8
of 251 rated
Composite link
0.8
correlation with total score
Market link
0.54
rank correlation with market cap, n=236
01
What this variable measures
Regulated exposure: funds, listed vehicles, disclosed corporate holdings and custody support.
A 10 means live regulated products and disclosed institutional positions. A 1 means no regulated access at all.
Institutional access changes who the marginal buyer is, and that changes how the asset trades in a drawdown.
02
What the universe says
Across 251 rated tokens the median score on Institutional Adoption is 3 of 10 and the mean is 3.79. 8 tokens score 9 or 10, and 60 score 2 or below. Hyperliquid leads at 10 of 10.
Institutional Adoption correlates 0.8 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, Institutional Adoption carries a rank correlation of 0.54. The market already pays up for this. A high score is priced in, and the interesting cases are the tokens that score well and are still small.
Institutional Adoption 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 Institutional Adoption, 5th 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
141
462
773
444
355
106
97
88
49
410
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 | Institutional Adoption | Composite | Market cap | Verdict |
|---|---|---|---|---|---|
| 1 | 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. | 10/10 | 193 | $19.71B | HOLD CORE |
| 2 | ETHEthereumInstitutional settlement layer. Commodity classification. Burn collapsed but moat intact. | 10/10 | 187 | $313.17B | HOLD CORE |
| 3 | 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 |
| 4 | LINKChainlink70% oracle dominance. DTCC Q4 2026. SOC 2 Type 2. $500M/yr treasury sell pressure. 2 ETFs live. | 10/10 | 165 | $10.01B | HOLD |
| 5 | 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 |
| 6 | MORPHOMorphoInfrastructure lending protocol with $6.4B TVL and $203M annualized fees but zero revenue to token holders, fee switch off, founder opposes activation | 9/10 | 157 | $1.75B | HOLD |
| 7 | AVAXAvalancheBest institutional traction among alt-L1s (3 ETFs, BlackRock BUIDL over $900M, SEC commodity, FIFA World Cup, CME futures). Revenue weakness real ($767K/yr current against Hyperliquid's roughly $844M 2025 revenue). Subnet L1s complement, not cannibalize. | 9/10 | 138 | $4.93B | CAUTIOUS HOLD |
| 8 | ONDOOndo Finance$3B RWA platform but ONDO token captures $0 revenue. 57.79% in one wallet. -73% in 12mo. | 9/10 | 115 | $2.27B | WATCH |
| 9 | 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 |
| 10 | GEODGEODNETRevenue not declining: Q2 2026 $2.59M (+48% QoQ). ARR $7.3-9.5M. 80% burn Foundation-controlled (governance, not smart contract). ATH $0.3746 not $0.43. 20K+ stations, 150+ countries. P/S 9.9-14.4x (expensive vs Helium 3.1x). Deflationary crossover approaching post-Jun 2026 halving. | 8/10 | 169 | $137.0M | HOLD |
| 11 | SYRUPMaple Finance | 8/10 | 168 | $268.1M | HOLD |
| 12 | UNIUniswap | 8/10 | 167 | $4.91B | HOLD |
| 13 | CBETHCoinbase Wrapped Staked ETH | 8/10 | 158 | $484.5M | HOLD |
| 14 | AAVEAave | 8/10 | 156 | $2.65B | HOLD |
| 15 | SKYSky (formerly Maker) | 8/10 | 141 | $1.86B | CAUTIOUS HOLD |
| 16 | XRPXRP | 8/10 | 121 | $90.31B | CAUTIOUS HOLD |
| 17 | WSTETHWrapped Lido Staked ETH | 7/10 | 185 | $11.76B | HOLD CORE |
| 18 | SOLSolana | 7/10 | 170 | $68.57B | HOLD |
| 19 | COWCoW Protocol | 7/10 | 167 | $82.3M | HOLD |
| 20 | PAXGPAX Gold | 7/10 | 141 | $1.79B | HOLD |
| 21 | KMNOKamino Finance | 7/10 | 138 | $214.9M | CAUTIOUS HOLD |
| 22 | SAFESafe (formerly Gnosis Safe) | 7/10 | 132 | $84.0M | CAUTIOUS HOLD |
| 23 | LITLighter | 7/10 | 125 | $876.5M | WATCH |
| 24 | ENAEthena | 7/10 | 120 | $3.06B | CAUTIOUS HOLD |
| 25 | HBARHedera | 7/10 | 112 | $4.09B | WATCH |
| 26 | ETHFIEther.fi | 6/10 | 162 | $680.1M | HOLD |
| 27 | SUISui | 6/10 | 146 | $4.63B | HOLD |
| 28 | LDOLido DAO | 6/10 | 146 | $353.8M | HOLD |
| 29 | ARBArbitrum | 6/10 | 134 | $1.25B | CAUTIOUS HOLD |
| 30 | TAOBittensor | 6/10 | 128 | $3.29B | CAUTIOUS HOLD |
| 31 | OPOptimism | 6/10 | 123 | $273.9M | CAUTIOUS HOLD |
| 32 | POLPolygon system Token | 6/10 | 123 | $1.08B | CAUTIOUS HOLD |
| 33 | COMPCompound | 6/10 | 119 | $234.1M | WATCH |
| 34 | QNTQuant | 6/10 | 116 | $3.53B | WATCH |
| 35 | EIGENEigenLayer | 6/10 | 107 | $226.1M | WATCH |
| 36 | RETHRocket Pool ETH | 5/10 | 159 | $946.8M | HOLD |
| 37 | AEROAerodrome Finance | 5/10 | 157 | $794.7M | HOLD |
| 38 | VIRTUALVirtuals Protocol | 5/10 | 151 | $502.6M | CAUTIOUS HOLD |
| 39 | JUPJupiter | 5/10 | 151 | $1.04B | HOLD |
| 40 | FLUIDFluid (Instadapp) | 5/10 | 145 | $158.2M | CAUTIOUS HOLD |
| 41 | OKBOKB | 5/10 | 145 | $2.75B | HOLD |
| 42 | BNBBNB | 5/10 | 144 | $102.38B | HOLD |
| 43 | GMXGMX | 5/10 | 143 | $84.3M | HOLD |
| 44 | ENSEthereum Name Service | 5/10 | 137 | $269.1M | CAUTIOUS HOLD |
| 45 | NEARNEAR Protocol | 5/10 | 135 | $6.64B | CAUTIOUS HOLD |
| 46 | JTOJito | 5/10 | 134 | $263.0M | CAUTIOUS HOLD |
| 47 | OLASOlas (Autonolas) | 5/10 | 129 | $13.4M | CAUTIOUS HOLD |
| 48 | GNOGnosis | 5/10 | 128 | $316.6M | CAUTIOUS HOLD |
| 49 | BERABerachain | 5/10 | 127 | $76.8M | CAUTIOUS HOLD |
| 50 | GRTThe Graph | 5/10 | 121 | $297.6M | CAUTIOUS HOLD |
| 51 | TIACelestia | 5/10 | 120 | $432.0M | CAUTIOUS HOLD |
| 52 | CHZChiliz | 5/10 | 120 | $165.6M | CAUTIOUS HOLD |
| 53 | PRIMEEchelon Prime | 5/10 | 119 | $14.8M | WATCH |
| 54 | IMXImmutable X | 5/10 | 117 | $156.3M | WATCH |
| 55 | APTAptos | 5/10 | 116 | $652.3M | WATCH |
| 56 | CFGCentrifuge | 5/10 | 115 | not published | WATCH |
| 57 | TONToncoin | 5/10 | 110 | $4.02B | WATCH |
| 58 | MATICPolygon (Legacy) | 5/10 | 110 | $1.08B | WATCH |
| 59 | DYDXdYdX | 5/10 | 109 | $113.2M | WATCH |
| 60 | IOio.net | 5/10 | 108 | $63.1M | WATCH |
| 61 | OMMANTRA | 5/10 | 108 | $29.1M | WATCH |
| 62 | XLMStellar | 5/10 | 108 | $7.01B | WATCH |
| 63 | PYTHPyth Network | 5/10 | 107 | $557.2M | WATCH |
| 64 | SSVSSV Network | 5/10 | 106 | $42.1M | WATCH |
| 65 | ZROLayerZero | 5/10 | 106 | $850.4M | WATCH |
| 66 | KLAYKlaytn | 5/10 | 103 | not published | WATCH |
| 67 | CROCronos | 5/10 | 102 | $3.12B | WATCH |
| 68 | VETVeChain | 5/10 | 101 | $692.4M | WATCH |
| 69 | CFXConflux | 5/10 | 98 | $265.8M | PASS |
| 70 | ALGOAlgorand | 5/10 | 97 | $1.05B | PASS |
| 71 | CETUSCetus Protocol | 4/10 | 147 | $25.0M | HOLD |
| 72 | CRVCurve Finance | 4/10 | 140 | $552.7M | HOLD |
| 73 | ARArweave | 4/10 | 140 | $274.9M | HOLD |
| 74 | INJInjective | 4/10 | 139 | $727.9M | CAUTIOUS HOLD |
| 75 | BGBBitget Token | 4/10 | 135 | $1.37B | CAUTIOUS HOLD |
| 76 | AKTAkash Network | 4/10 | 129 | $210.6M | CAUTIOUS HOLD |
| 77 | RENDERRender Network | 4/10 | 127 | $1.05B | CAUTIOUS HOLD |
| 78 | LEOUNUS SED LEO | 4/10 | 126 | $8.19B | CAUTIOUS HOLD |
| 79 | LPTLivepeer | 4/10 | 123 | $82.2M | CAUTIOUS HOLD |
| 80 | GTGateToken | 4/10 | 123 | not published | CAUTIOUS HOLD |
| 81 | HNTHelium | 4/10 | 122 | $97.6M | CAUTIOUS HOLD |
| 82 | KCSKuCoin Token | 4/10 | 119 | not published | WATCH |
| 83 | STXStacks | 4/10 | 118 | $697.8M | WATCH |
| 84 | WOOWOO Network | 4/10 | 118 | $23.6M | WATCH |
| 85 | STGStargate Finance | 4/10 | 117 | $20.1M | WATCH |
| 86 | ADACardano | 4/10 | 113 | $9.57B | WATCH |
| 87 | GRASSGrass | 4/10 | 111 | $457.9M | WATCH |
| 88 | FTMFantom | 4/10 | 111 | not published | WATCH |
| 89 | FETFetch.ai (ASI Alliance) | 4/10 | 109 | $522.8M | WATCH |
| 90 | BICOBiconomy | 4/10 | 109 | $20.1M | WATCH |
| 91 | STORJStorj | 4/10 | 108 | $12.3M | WATCH |
| 92 | GELGelato | 4/10 | 107 | $498.0K | WATCH |
| 93 | GTCGitcoin | 4/10 | 106 | $15.9M | WATCH |
| 94 | THETATheta Network | 4/10 | 105 | $214.2M | WATCH |
| 95 | FXSFrax Share | 4/10 | 105 | $28.3M | WATCH |
| 96 | RONRonin | 4/10 | 104 | $49.1M | WATCH |
| 97 | DOTPolkadot | 4/10 | 103 | $1.88B | WATCH |
| 98 | LTCLitecoin | 4/10 | 102 | $5.15B | WATCH |
| 99 | SCROLLScroll | 4/10 | 102 | $4.7M | WATCH |
| 100 | TRUTrueFi | 4/10 | 102 | $1.1M | WATCH |
| 101 | APEApeCoin | 4/10 | 102 | $146.9M | WATCH |
| 102 | FILFilecoin | 4/10 | 101 | $867.2M | WATCH |
| 103 | ZECZcash | 4/10 | 101 | $22.59B | WATCH |
| 104 | USUALUsual Protocol | 4/10 | 99 | $23.6M | PASS |
| 105 | ACHAlchemy Pay | 4/10 | 97 | not published | PASS |
| 106 | ATOMCosmos | 4/10 | 96 | $899.5M | PASS |
| 107 | ZKZKsync | 4/10 | 95 | $129.1M | PASS |
| 108 | POLYXPolymesh | 4/10 | 95 | $52.9M | PASS |
| 109 | STRKStarknet | 4/10 | 93 | $366.4M | PASS |
| 110 | WWormhole | 4/10 | 92 | $93.6M | PASS |
| 111 | ETCEthereum Classic | 4/10 | 90 | $1.32B | PASS |
| 112 | WLDWorldcoin | 4/10 | 89 | $1.96B | PASS |
| 113 | XTZTezos | 4/10 | 88 | $336.3M | PASS |
| 114 | FLOWFlow | 4/10 | 78 | $53.4M | PASS |
| 115 | LQTYLiquity | 3/10 | 151 | $23.3M | HOLD |
| 116 | DRIFTDrift Protocol | 3/10 | 142 | $14.3M | HOLD |
| 117 | ACXAcross Protocol | 3/10 | 137 | $30.5M | CAUTIOUS HOLD |
| 118 | BANANABanana Gun | 3/10 | 135 | $15.5M | CAUTIOUS HOLD |
| 119 | RAYRaydium | 3/10 | 129 | $670.5M | CAUTIOUS HOLD |
| 120 | TRXTRON | 3/10 | 125 | $31.81B | CAUTIOUS HOLD |
| 121 | CAKEPancakeSwap | 3/10 | 123 | $698.0M | CAUTIOUS HOLD |
| 122 | ORCAOrca | 3/10 | 123 | $167.2M | CAUTIOUS HOLD |
| 123 | VELOVelodrome Finance | 3/10 | 121 | $46.1M | CAUTIOUS HOLD |
| 124 | MAVMaverick Protocol | 3/10 | 121 | $13.1M | CAUTIOUS HOLD |
| 125 | VRTXVertex Protocol | 3/10 | 121 | not published | CAUTIOUS HOLD |
| 126 | MNDEMarinade | 3/10 | 119 | $15.6M | WATCH |
| 127 | JOETrader Joe | 3/10 | 117 | $17.4M | WATCH |
| 128 | GNSGains Network | 3/10 | 116 | $9.5M | WATCH |
| 129 | SSonic (prev. Fantom) | 3/10 | 115 | $154.2M | WATCH |
| 130 | KASKaspa | 3/10 | 114 | $1.11B | WATCH |
| 131 | TNSRTensor | 3/10 | 112 | $27.8M | WATCH |
| 132 | YFIYearn Finance | 3/10 | 111 | $86.4M | WATCH |
| 133 | KNCKyber Network | 3/10 | 110 | $28.1M | WATCH |
| 134 | PERPPerpetual Protocol | 3/10 | 108 | $2.8M | WATCH |
| 135 | ALCXAlchemix | 3/10 | 108 | $6.6M | WATCH |
| 136 | SLNDSolend | 3/10 | 106 | not published | WATCH |
| 137 | QUICKQuickSwap | 3/10 | 105 | $7.0M | WATCH |
| 138 | RPLRocket Pool | 3/10 | 104 | $40.8M | WATCH |
| 139 | PENGUPudgy Penguins | 3/10 | 104 | $535.4M | WATCH |
| 140 | RDNTRadiant Capital | 3/10 | 104 | $1.0M | WATCH |
| 141 | MLNEnzyme (Melon) | 3/10 | 104 | not published | WATCH |
| 142 | RSRReserve Rights | 3/10 | 104 | $100.3M | WATCH |
| 143 | CVXConvex Finance | 3/10 | 103 | $193.9M | WATCH |
| 144 | KSMKusama | 3/10 | 103 | $90.6M | WATCH |
| 145 | SHDWShadow Token | 3/10 | 103 | $5.3M | WATCH |
| 146 | ICPInternet Computer | 3/10 | 102 | $1.75B | WATCH |
| 147 | ATHAethir | 3/10 | 101 | $132.9M | WATCH |
| 148 | ILVIlluvium | 3/10 | 101 | $31.5M | WATCH |
| 149 | MCMerit Circle (Beam) | 3/10 | 101 | not published | WATCH |
| 150 | DASHDash | 3/10 | 101 | $683.9M | WATCH |
| 151 | GMTSTEPN | 3/10 | 101 | $25.0M | WATCH |
| 152 | AUDIOAudius | 3/10 | 101 | $22.7M | WATCH |
| 153 | SEISei | 3/10 | 100 | $457.3M | WATCH |
| 154 | CORECore | 3/10 | 100 | $29.2M | WATCH |
| 155 | BADGERBadgerDAO | 3/10 | 100 | $6.4M | WATCH |
| 156 | API3API3 | 3/10 | 99 | $45.0M | PASS |
| 157 | FLRFlare | 3/10 | 99 | $609.8M | PASS |
| 158 | MINAMina Protocol | 3/10 | 98 | $121.4M | PASS |
| 159 | NMRNumeraire | 3/10 | 98 | $105.4M | PASS |
| 160 | HTHuobi Token | 3/10 | 98 | $16.3M | PASS |
| 161 | IOTXIoTeX | 3/10 | 98 | $34.2M | PASS |
| 162 | COTICOTI | 3/10 | 97 | $39.1M | PASS |
| 163 | SKLSKALE | 3/10 | 97 | $26.6M | PASS |
| 164 | REQRequest | 3/10 | 97 | $42.8M | PASS |
| 165 | RADRadicle | 3/10 | 97 | $19.5M | PASS |
| 166 | ANKRAnkr Network | 3/10 | 96 | $46.1M | PASS |
| 167 | POOLPoolTogether | 3/10 | 96 | $176.3K | PASS |
| 168 | FLUXFlux | 3/10 | 96 | $191.3K | PASS |
| 169 | CTSICartesi | 3/10 | 96 | $27.7M | PASS |
| 170 | BALBalancer | 3/10 | 95 | $9.1M | PASS |
| 171 | YGGYield Guild Games | 3/10 | 95 | $22.5M | PASS |
| 172 | CELOCelo | 3/10 | 94 | $57.3M | PASS |
| 173 | GLMRMoonbeam | 3/10 | 94 | $13.9M | PASS |
| 174 | RLCiExec | 3/10 | 94 | $61.1M | PASS |
| 175 | MXMEXC Token | 3/10 | 94 | not published | PASS |
| 176 | 1INCH1inch Network | 3/10 | 93 | $138.1M | PASS |
| 177 | PROPPropy | 3/10 | 93 | $35.2M | PASS |
| 178 | MBOXMOBOX | 3/10 | 92 | $298.5K | PASS |
| 179 | HOPRHOPR | 3/10 | 92 | $8.7M | PASS |
| 180 | PONDMarlin | 3/10 | 91 | $14.2M | PASS |
| 181 | DOGEDogecoin | 3/10 | 89 | $13.83B | PASS |
| 182 | ALICEMy Neighbor Alice | 3/10 | 89 | $16.9M | PASS |
| 183 | PEAQpeaq | 3/10 | 88 | $102.2M | PASS |
| 184 | HIGHHighstreet | 3/10 | 88 | not published | PASS |
| 185 | SXPSolar | 3/10 | 88 | $2.5M | PASS |
| 186 | GOGGuild of Guardians | 3/10 | 86 | $960.1K | PASS |
| 187 | ROSEOasis Network | 3/10 | 84 | $62.0M | PASS |
| 188 | BLURBlur | 3/10 | 84 | $55.8M | PASS |
| 189 | MASKMask Network | 3/10 | 82 | $45.8M | PASS |
| 190 | MOVEMovement | 3/10 | 67 | $40.6M | PASS |
| 191 | JASMYJasmyCoin | 3/10 | 67 | $243.3M | PASS |
| 192 | SNXSynthetix | 2/10 | 130 | $137.5M | CAUTIOUS HOLD |
| 193 | XMRMonero | 2/10 | 117 | $10.41B | WATCH |
| 194 | VELAVela Exchange | 2/10 | 107 | not published | WATCH |
| 195 | ORDIORDI | 2/10 | 96 | $88.5M | PASS |
| 196 | ALPACAAlpaca Finance | 2/10 | 95 | $138.7K | PASS |
| 197 | INVInverse Finance | 2/10 | 95 | $6.9M | PASS |
| 198 | CKBNervos Network | 2/10 | 93 | $61.4M | PASS |
| 199 | BONKBonk | 2/10 | 93 | $300.8M | PASS |
| 200 | OSMOOsmosis | 2/10 | 93 | $26.6M | PASS |
| 201 | FARMHarvest Finance | 2/10 | 93 | $5.1M | PASS |
| 202 | MOBILEHelium Mobile | 2/10 | 92 | $6.0M | PASS |
| 203 | PEPEPepe | 2/10 | 92 | $1.70B | PASS |
| 204 | SNTStatus | 2/10 | 92 | $38.1M | PASS |
| 205 | ALPHAAlpha Venture DAO | 2/10 | 91 | $483.2K | PASS |
| 206 | TRBTellor | 2/10 | 90 | $56.4M | PASS |
| 207 | CELRCeler Network | 2/10 | 90 | $22.9M | PASS |
| 208 | NANONano | 2/10 | 90 | $46.6M | PASS |
| 209 | FLOKIFLOKI | 2/10 | 88 | $257.5M | PASS |
| 210 | DENTDent | 2/10 | 88 | $6.2M | PASS |
| 211 | BLASTBlast | 2/10 | 87 | $4.9M | PASS |
| 212 | LEVERLeverFi | 2/10 | 87 | not published | PASS |
| 213 | NOSNosana | 2/10 | 86 | $52.5M | PASS |
| 214 | AGLDAdventure Gold | 2/10 | 86 | $18.0M | PASS |
| 215 | CANTOCanto | 2/10 | 86 | $2.0M | PASS |
| 216 | EGLDMultiversX (prev. Elrond) | 2/10 | 85 | $123.2M | PASS |
| 217 | FORTHAmpleforth Governance | 2/10 | 84 | $3.0M | PASS |
| 218 | BONDBarnBridge | 2/10 | 82 | $93.5K | PASS |
| 219 | WAXPWAX | 2/10 | 81 | $26.9M | PASS |
| 220 | KAVAKava | 2/10 | 80 | $71.7M | PASS |
| 221 | PRCLParcl | 2/10 | 80 | $5.5M | PASS |
| 222 | LRCLoopring | 2/10 | 78 | $13.2M | PASS |
| 223 | IOTAIOTA | 2/10 | 78 | $248.2M | PASS |
| 224 | IDEXIDEX | 2/10 | 77 | $838.1K | PASS |
| 225 | MANTAManta Network | 2/10 | 76 | $31.1M | PASS |
| 226 | AXSAxie Infinity | 2/10 | 76 | $207.3M | PASS |
| 227 | BTTBitTorrent | 2/10 | 76 | $357.4M | PASS |
| 228 | MCBMCDEX | 2/10 | 76 | $8.9M | PASS |
| 229 | SUSHISushiSwap | 2/10 | 74 | $66.7M | PASS |
| 230 | RVNRavencoin | 2/10 | 74 | $36.1M | 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 | MANADecentraland | 2/10 | 66 | $197.1M | PASS |
| 237 | SANDThe Sandbox | 2/10 | 58 | $219.2M | PASS |
| 238 | RUNETHORChain | 1/10 | 106 | $234.5M | PASS |
| 239 | WIFdogwifhat | 1/10 | 88 | $227.9M | PASS |
| 240 | NOTNotcoin | 1/10 | 73 | $45.0M | PASS |
| 241 | POPCATPopcat | 1/10 | 73 | $46.9M | PASS |
| 242 | SHIBShiba Inu | 1/10 | 71 | $3.17B | PASS |
| 243 | ZILZilliqa | 1/10 | 63 | $64.9M | PASS |
| 244 | SPELLSpell Token | 1/10 | 63 | $16.0M | PASS |
| 245 | DOGSDOGS | 1/10 | 62 | $22.6M | PASS |
| 246 | QTUMQtum | 1/10 | 61 | $97.7M | PASS |
| 247 | MEMEMemecoin | 1/10 | 57 | $36.6M | PASS |
| 248 | NEIRONEIRO | 1/10 | 56 | $35.3M | PASS |
| 249 | GALAGala Games | 1/10 | 53 | $114.2M | PASS |
| 250 | KDAKadena | 1/10 | 50 | $3.0M | 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 institutional adoption?
- Hyperliquid (HYPE) at 10, Ethereum (ETH) at 10, Bitcoin (BTC) at 10, Chainlink (LINK) at 10, Pendle Finance (PENDLE) at 9 lead the 251 rated tokens on Institutional Adoption, each scored 1 to 10 against the same definition.
- What is a good institutional adoption score?
- The median across the universe is 3 of 10 and the mean is 3.79, so anything at 7 or above sits well inside the top of the distribution. Only 8 of 251 tokens reach 9 or 10.
- Does institutional adoption affect a token's market cap?
- Rank correlation between Institutional Adoption and market capitalisation is 0.54 across 236 tokens with live market data. That is a clear relationship, so most of a high score is already in the price.
Keep reading
Research and analysis, not investment advice. Correlations describe the rated universe at one point in time and are not predictions.