Traction

Network Growth, ranked

Whether other teams are building on the network and whether that set is expanding.

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

Median
4/10
mean 4.21
Scoring 9 or 10
3
of 251 rated
Composite link
0.89
correlation with total score
Market link
0.38
rank correlation with market cap, n=236
01

What this variable measures

Whether other teams are building on the network and whether that set is expanding.

A 10 means a widening base of independent projects that depend on it. A 1 means nothing is built on top.

Networks other people build on are hard to displace. Networks nobody builds on are one better product away from irrelevance.

02

What the universe says

Across 251 rated tokens the median score on Network Growth is 4 of 10 and the mean is 4.21. 3 tokens score 9 or 10, and 37 score 2 or below. Hyperliquid leads at 9 of 10.

Network Growth correlates 0.89 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, Network Growth carries a rank correlation of 0.38. The market leans this way but does not price it consistently, so the ranking below still contains disagreement worth using.

Network Growth and Smart Money Flows correlate 0.89, so reading both is close to reading one twice. Treat them as a single position on the same question rather than two independent confirmations.

GEODNET (GEOD) scores 8 of 10 on Network Growth, 4th 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

10
1
27
2
59
3
56
4
48
5
20
6
20
7
8
8
3
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 Network Growth, scored 1 to 10
#TokenNetwork GrowthCompositeMarket 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 activation9/10157$1.75BHOLD
3JUPJupiterS39 validated: Solana's DeFi superapp. 93.6% aggregator share, $2.9B TVL. Revenue declining -78% but net-zero emissions + vesting done.9/10151$1.04BHOLD
4ETHEthereumInstitutional settlement layer. Commodity classification. Burn collapsed but moat intact.8/10187$313.17BHOLD CORE
5SOLSolanaHigh-throughput L1 with dominant DEX volume and meme coin launchpad traction. Network reliability improved significantly post-2023.8/10170$68.57BHOLD
6GEODGEODNETRevenue 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.8/10169$137.0MHOLD
7UNIUniswapFee switch live on 11+ chains. Protocol revenue $26-61M (P/S 57-73x). V4 on 18 chains, 2500+ hooks. 100M UNI burned but net inflationary (+1.43%/yr). BlackRock entered Feb 2026. a16z holds 41.5-55M UNI. $200M+ insider selling 2025. Unichain TVL $17.8-29.6M (not $532M). SEC safe harbor Apr 2026.8/10167$4.91BHOLD
8LINKChainlink70% oracle dominance. DTCC Q4 2026. SOC 2 Type 2. $500M/yr treasury sell pressure. 2 ETFs live.8/10165$10.01BHOLD
9LQTYLiquityV2 is RE-deployment after Jan 2025 bug (same auditors didn't catch it). 99% circ. BOLD $30M (<0.01%).8/10151$23.3MHOLD
10CETUSCetus ProtocolLeading CLMM DEX on Sui with near-monopoly status; strong TVL growth as Sui network expansion accelerates8/10147$25.0MHOLD
11KMNOKamino Finance8/10138$214.9MCAUTIOUS HOLD
12WSTETHWrapped Lido Staked ETH7/10185$11.76BHOLD CORE
13BTCBitcoin7/10183$1.67THOLD CORE
14MKRMaker / Sky7/10177not publishedHOLD CORE
15SYRUPMaple Finance7/10168$268.1MHOLD
16COWCoW Protocol7/10167$82.3MHOLD
17ETHFIEther.fi7/10162$680.1MHOLD
18PENDLEPendle Finance7/10160$391.5MHOLD
19AEROAerodrome Finance7/10157$794.7MHOLD
20VIRTUALVirtuals Protocol7/10151$502.6MCAUTIOUS HOLD
21SUISui7/10146$4.63BHOLD
22FLUIDFluid (Instadapp)7/10145$158.2MCAUTIOUS HOLD
23DRIFTDrift Protocol7/10142$14.3MHOLD
24CRVCurve Finance7/10140$552.7MHOLD
25AVAXAvalanche7/10138$4.93BCAUTIOUS HOLD
26NEARNEAR Protocol7/10135$6.64BCAUTIOUS HOLD
27ARBArbitrum7/10134$1.25BCAUTIOUS HOLD
28SAFESafe (formerly Gnosis Safe)7/10132$84.0MCAUTIOUS HOLD
29TAOBittensor7/10128$3.29BCAUTIOUS HOLD
30BERABerachain7/10127$76.8MCAUTIOUS HOLD
31ONDOOndo Finance7/10115$2.27BWATCH
32RETHRocket Pool ETH6/10159$946.8MHOLD
33AAVEAave6/10156$2.65BHOLD
34LDOLido DAO6/10146$353.8MHOLD
35BNBBNB6/10144$102.38BHOLD
36GMXGMX6/10143$84.3MHOLD
37SKYSky (formerly Maker)6/10141$1.86BCAUTIOUS HOLD
38ARArweave6/10140$274.9MHOLD
39ENSEthereum Name Service6/10137$269.1MCAUTIOUS HOLD
40JTOJito6/10134$263.0MCAUTIOUS HOLD
41RAYRaydium6/10129$670.5MCAUTIOUS HOLD
42RENDERRender Network6/10127$1.05BCAUTIOUS HOLD
43POLPolygon system Token6/10123$1.08BCAUTIOUS HOLD
44ORCAOrca6/10123$167.2MCAUTIOUS HOLD
45TIACelestia6/10120$432.0MCAUTIOUS HOLD
46IMXImmutable X6/10117$156.3MWATCH
47APTAptos6/10116$652.3MWATCH
48EIGENEigenLayer6/10107$226.1MWATCH
49PYTHPyth Network6/10107$557.2MWATCH
50ZROLayerZero6/10106$850.4MWATCH
51WLDWorldcoin6/1089$1.96BPASS
52CBETHCoinbase Wrapped Staked ETH5/10158$484.5MHOLD
53OKBOKB5/10145$2.75BHOLD
54INJInjective5/10139$727.9MCAUTIOUS HOLD
55ACXAcross Protocol5/10137$30.5MCAUTIOUS HOLD
56BANANABanana Gun5/10135$15.5MCAUTIOUS HOLD
57BGBBitget Token5/10135$1.37BCAUTIOUS HOLD
58SNXSynthetix5/10130$137.5MCAUTIOUS HOLD
59OLASOlas (Autonolas)5/10129$13.4MCAUTIOUS HOLD
60AKTAkash Network5/10129$210.6MCAUTIOUS HOLD
61GNOGnosis5/10128$316.6MCAUTIOUS HOLD
62LITLighter5/10125$876.5MWATCH
63OPOptimism5/10123$273.9MCAUTIOUS HOLD
64CAKEPancakeSwap5/10123$698.0MCAUTIOUS HOLD
65LPTLivepeer5/10123$82.2MCAUTIOUS HOLD
66HNTHelium5/10122$97.6MCAUTIOUS HOLD
67GRTThe Graph5/10121$297.6MCAUTIOUS HOLD
68XRPXRP5/10121$90.31BCAUTIOUS HOLD
69MAVMaverick Protocol5/10121$13.1MCAUTIOUS HOLD
70VRTXVertex Protocol5/10121not publishedCAUTIOUS HOLD
71ENAEthena5/10120$3.06BCAUTIOUS HOLD
72CHZChiliz5/10120$165.6MCAUTIOUS HOLD
73PRIMEEchelon Prime5/10119$14.8MWATCH
74MNDEMarinade5/10119$15.6MWATCH
75WOOWOO Network5/10118$23.6MWATCH
76STGStargate Finance5/10117$20.1MWATCH
77JOETrader Joe5/10117$17.4MWATCH
78GNSGains Network5/10116$9.5MWATCH
79SSonic (prev. Fantom)5/10115$154.2MWATCH
80CFGCentrifuge5/10115not publishedWATCH
81KASKaspa5/10114$1.11BWATCH
82HBARHedera5/10112$4.09BWATCH
83TNSRTensor5/10112$27.8MWATCH
84GRASSGrass5/10111$457.9MWATCH
85TONToncoin5/10110$4.02BWATCH
86FETFetch.ai (ASI Alliance)5/10109$522.8MWATCH
87BICOBiconomy5/10109$20.1MWATCH
88IOio.net5/10108$63.1MWATCH
89OMMANTRA5/10108$29.1MWATCH
90GELGelato5/10107$498.0KWATCH
91SSVSSV Network5/10106$42.1MWATCH
92SLNDSolend5/10106not publishedWATCH
93GTCGitcoin5/10106$15.9MWATCH
94PENGUPudgy Penguins5/10104$535.4MWATCH
95FILFilecoin5/10101$867.2MWATCH
96ATHAethir5/10101$132.9MWATCH
97SEISei5/10100$457.3MWATCH
98CORECore5/10100$29.2MWATCH
99WWormhole5/1092$93.6MPASS
100PAXGPAX Gold4/10141$1.79BHOLD
101TRXTRON4/10125$31.81BCAUTIOUS HOLD
102GTGateToken4/10123not publishedCAUTIOUS HOLD
103VELOVelodrome Finance4/10121$46.1MCAUTIOUS HOLD
104COMPCompound4/10119$234.1MWATCH
105KCSKuCoin Token4/10119not publishedWATCH
106STXStacks4/10118$697.8MWATCH
107XMRMonero4/10117$10.41BWATCH
108QNTQuant4/10116$3.53BWATCH
109FTMFantom4/10111not publishedWATCH
110MATICPolygon (Legacy)4/10110$1.08BWATCH
111KNCKyber Network4/10110$28.1MWATCH
112DYDXdYdX4/10109$113.2MWATCH
113PERPPerpetual Protocol4/10108$2.8MWATCH
114STORJStorj4/10108$12.3MWATCH
115ALCXAlchemix4/10108$6.6MWATCH
116XLMStellar4/10108$7.01BWATCH
117VELAVela Exchange4/10107not publishedWATCH
118RUNETHORChain4/10106$234.5MPASS
119FXSFrax Share4/10105$28.3MWATCH
120QUICKQuickSwap4/10105$7.0MWATCH
121RDNTRadiant Capital4/10104$1.0MWATCH
122RONRonin4/10104$49.1MWATCH
123RSRReserve Rights4/10104$100.3MWATCH
124KLAYKlaytn4/10103not publishedWATCH
125KSMKusama4/10103$90.6MWATCH
126SHDWShadow Token4/10103$5.3MWATCH
127SCROLLScroll4/10102$4.7MWATCH
128ICPInternet Computer4/10102$1.75BWATCH
129TRUTrueFi4/10102$1.1MWATCH
130APEApeCoin4/10102$146.9MWATCH
131ILVIlluvium4/10101$31.5MWATCH
132MCMerit Circle (Beam)4/10101not publishedWATCH
133GMTSTEPN4/10101$25.0MWATCH
134AUDIOAudius4/10101$22.7MWATCH
135USUALUsual Protocol4/1099$23.6MPASS
136FLRFlare4/1099$609.8MPASS
137CFXConflux4/1098$265.8MPASS
138MINAMina Protocol4/1098$121.4MPASS
139IOTXIoTeX4/1098$34.2MPASS
140COTICOTI4/1097$39.1MPASS
141SKLSKALE4/1097$26.6MPASS
142ACHAlchemy Pay4/1097not publishedPASS
143RADRadicle4/1097$19.5MPASS
144POOLPoolTogether4/1096$176.3KPASS
145FLUXFlux4/1096$191.3KPASS
146CTSICartesi4/1096$27.7MPASS
147ATOMCosmos4/1096$899.5MPASS
148ZKZKsync4/1095$129.1MPASS
149YGGYield Guild Games4/1095$22.5MPASS
150CELOCelo4/1094$57.3MPASS
151STRKStarknet4/1093$366.4MPASS
152BONKBonk4/1093$300.8MPASS
153MOBILEHelium Mobile4/1092$6.0MPASS
154PEAQpeaq4/1088$102.2MPASS
155GOGGuild of Guardians4/1086$960.1KPASS
156LEOUNUS SED LEO3/10126$8.19BCAUTIOUS HOLD
157ADACardano3/10113$9.57BWATCH
158YFIYearn Finance3/10111$86.4MWATCH
159THETATheta Network3/10105$214.2MWATCH
160RPLRocket Pool3/10104$40.8MWATCH
161MLNEnzyme (Melon)3/10104not publishedWATCH
162DOTPolkadot3/10103$1.88BWATCH
163CVXConvex Finance3/10103$193.9MWATCH
164CROCronos3/10102$3.12BWATCH
165ZECZcash3/10101$22.59BWATCH
166VETVeChain3/10101$692.4MWATCH
167DASHDash3/10101$683.9MWATCH
168BADGERBadgerDAO3/10100$6.4MWATCH
169API3API33/1099$45.0MPASS
170NMRNumeraire3/1098$105.4MPASS
171HTHuobi Token3/1098$16.3MPASS
172ALGOAlgorand3/1097$1.05BPASS
173REQRequest3/1097$42.8MPASS
174ORDIORDI3/1096$88.5MPASS
175ANKRAnkr Network3/1096$46.1MPASS
176BALBalancer3/1095$9.1MPASS
177ALPACAAlpaca Finance3/1095$138.7KPASS
178INVInverse Finance3/1095$6.9MPASS
179POLYXPolymesh3/1095$52.9MPASS
180GLMRMoonbeam3/1094$13.9MPASS
181RLCiExec3/1094$61.1MPASS
182MXMEXC Token3/1094not publishedPASS
183CKBNervos Network3/1093$61.4MPASS
1841INCH1inch Network3/1093$138.1MPASS
185OSMOOsmosis3/1093$26.6MPASS
186PROPPropy3/1093$35.2MPASS
187FARMHarvest Finance3/1093$5.1MPASS
188PEPEPepe3/1092$1.70BPASS
189MBOXMOBOX3/1092$298.5KPASS
190HOPRHOPR3/1092$8.7MPASS
191SNTStatus3/1092$38.1MPASS
192ALPHAAlpha Venture DAO3/1091$483.2KPASS
193PONDMarlin3/1091$14.2MPASS
194TRBTellor3/1090$56.4MPASS
195CELRCeler Network3/1090$22.9MPASS
196NANONano3/1090$46.6MPASS
197ETCEthereum Classic3/1090$1.32BPASS
198ALICEMy Neighbor Alice3/1089$16.9MPASS
199FLOKIFLOKI3/1088$257.5MPASS
200HIGHHighstreet3/1088not publishedPASS
201SXPSolar3/1088$2.5MPASS
202DENTDent3/1088$6.2MPASS
203BLASTBlast3/1087$4.9MPASS
204LEVERLeverFi3/1087not publishedPASS
205NOSNosana3/1086$52.5MPASS
206AGLDAdventure Gold3/1086$18.0MPASS
207CANTOCanto3/1086$2.0MPASS
208BLURBlur3/1084$55.8MPASS
209MASKMask Network3/1082$45.8MPASS
210WAXPWAX3/1081$26.9MPASS
211PRCLParcl3/1080$5.5MPASS
212BTTBitTorrent3/1076$357.4MPASS
213MODEMode Network3/1072$666.9KPASS
214MOVEMovement3/1067$40.6MPASS
215LTCLitecoin2/10102$5.15BWATCH
216DOGEDogecoin2/1089$13.83BPASS
217XTZTezos2/1088$336.3MPASS
218WIFdogwifhat2/1088$227.9MPASS
219EGLDMultiversX (prev. Elrond)2/1085$123.2MPASS
220ROSEOasis Network2/1084$62.0MPASS
221FORTHAmpleforth Governance2/1084$3.0MPASS
222BONDBarnBridge2/1082$93.5KPASS
223KAVAKava2/1080$71.7MPASS
224FLOWFlow2/1078$53.4MPASS
225LRCLoopring2/1078$13.2MPASS
226IDEXIDEX2/1077$838.1KPASS
227MANTAManta Network2/1076$31.1MPASS
228AXSAxie Infinity2/1076$207.3MPASS
229MCBMCDEX2/1076$8.9MPASS
230SUSHISushiSwap2/1074$66.7MPASS
231RVNRavencoin2/1074$36.1MPASS
232NOTNotcoin2/1073$45.0MPASS
233BANDBand Protocol2/1073$40.8MPASS
234POPCATPopcat2/1073$46.9MPASS
235SHIBShiba Inu2/1071$3.17BPASS
236RBNRibbon Finance2/1068$1.7MPASS
237SUPERSuperVerse2/1067$144.5MPASS
238JASMYJasmyCoin2/1067$243.3MPASS
239SPELLSpell Token2/1063$16.0MPASS
240SANDThe Sandbox2/1058$219.2MPASS
241GALAGala Games2/1053$114.2MPASS
242IOTAIOTA1/1078$248.2MPASS
243NEONeo1/1068$166.5MPASS
244MANADecentraland1/1066$197.1MPASS
245ZILZilliqa1/1063$64.9MPASS
246DOGSDOGS1/1062$22.6MPASS
247QTUMQtum1/1061$97.7MPASS
248MEMEMemecoin1/1057$36.6MPASS
249NEIRONEIRO1/1056$35.3MPASS
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 network growth?
Hyperliquid (HYPE) at 9, Morpho (MORPHO) at 9, Jupiter (JUP) at 9, Ethereum (ETH) at 8, Solana (SOL) at 8 lead the 251 rated tokens on Network Growth, each scored 1 to 10 against the same definition.
What is a good network growth score?
The median across the universe is 4 of 10 and the mean is 4.21, so anything at 7 or above sits well inside the top of the distribution. Only 3 of 251 tokens reach 9 or 10.
Does network growth affect a token's market cap?
Rank correlation between Network Growth and market capitalisation is 0.38 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.