Tokens rated HOLD CORE
Every token the 25-variable framework rated HOLD CORE, ranked by composite score against the full 251-token universe.
5 of 251 rated tokens (2%). Scoring pass 18 Sept 2026.
What this group has in common
A core position. These tokens clear the framework on cash flow, supply and institutional standing at the same time, which almost nothing in the rated universe does. Across the 5 tokens in this band the median composite is 185 of 250, running from 177 at the bottom to 193 at the top. The aggregate below shows where the band earns its score and where it consistently falls short, which is usually more informative than any single member.
Collectively strongest on
- Institutional Adoption9
- Smart Money Flows8.8
- Competitive Moat8.6
Collectively weakest on
- Holder Concentration5.4
- BTC Alpha Potential5.8
- Real Staking Yield5.8
Figures are the mean 1-to-10 score across all 5 members of the group, so they describe the group as a whole rather than any single token.
Ranked members
Ordered by composite score. The rank column is the position across the whole 251-token universe, not within this group, so it shows where each member stands against everything else that was rated.
| Rank | Token | Score | Verdict | Market cap | Dilution | Summary |
|---|---|---|---|---|---|---|
| 1 | HYPE Hyperliquid | 193 | HOLD CORE | $19.71B | 4.5x | 3 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. |
| 2 | ETH Ethereum | 187 | HOLD CORE | $313.17B | 1x | Institutional settlement layer. Commodity classification. Burn collapsed but moat intact. |
| 3 | WSTETH Wrapped Lido Staked ETH | 185 | HOLD CORE | $11.76B | 1x | Lido's wrapped staked ETH, the DeFi collateral standard with about $17.7B TVL and native yield; dominant LST by every metric |
| 4 | BTC Bitcoin | 183 | HOLD CORE | $1.67T | 1.05x | Digital gold with a large spot ETF complex and 94.5% supply mined. Store-of-value thesis intact, though ETF assets fell through 2026. |
| 5 | MKR Maker / Sky | 177 | HOLD CORE | - | - | $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. |
Dilution is eventual supply divided by circulating supply, derived from supply counts rather than from a fully diluted valuation, so it does not move with price. A 1x reading means the float is already complete.
Keep reading
Market caps from CoinGecko, fetched 7 Oct 2026. Scores come from the research pass dated 18 Sept 2026. Research and analysis, not investment advice. Early Thunder scores are one framework applied consistently across 251 tokens, not a prediction of price.