Nano ranks #85 of 504 cryptocurrencies. On a list that also counts tokens, memecoins, wrapped coins, staked derivatives and stablecoins it appears at #505: 420 of the 504 assets ahead of it are not native coins but tokens or claims. A token is issued on a host blockchain rather than running its own; a claim stands for an asset already counted. Of the 509 non-native assets CoinSpectrum lists above it by market cap, about 59% are tokens, 34% are claims on other assets and 8% are memecoins.
| CoinSpectrum Grade | B · 73/100 · provisional |
|---|---|
| Rank among cryptocurrencies | #85 |
| Rank counting claims | #505 |
| Market capitalisation | $45M |
| Price | $0.3376 |
| Circulating supply | 133,248,297 XNO |
| Maximum supply | 133,248,297 XNO |
| Consensus family | Proof of Stake |
| Consensus mechanism | Block-lattice (ORV) |
| Ledger type | Single-asset ledger |
| Launch distribution | No premine |
Market figures from the 28 October 2026 build. Open the live view for every exchange's price, and charts.
B — 73 out of 100, provisional (from 18 of 20 criteria, 28 October 2026 build). With what is not yet measured anywhere from nothing to full marks, the score would be 66 to 76 (B to A).
| Criterion | Score | Basis |
|---|---|---|
| Leading Consensus Mechanisms (Source) | 9.1 | group average |
| Consensus: leader ladder | 9.1 | Proof of stake: 9.1 of 10 on the ladder of consensus families ranked by their largest chain's market cap |
| Consensus: family ladder | 9.1 | Proof of stake: 9.1 of 10 on the ladder of families ranked by the combined market cap of their chains |
| Cryptocurrency Standards (Source) | 6.7 | group average, 11 of 13 measured |
| Sound Money Qualities (6 checks) | 10 | 6 of 6 points source |
| Scarcity: a fixed cap that holds, and a supply near 21 million | 9.5 | fixed maximum supply of 133 million: supply scale 8.9, cap 10 |
| Durability: five years or more with no halt, freeze or reversal | ✓ | 9 full years since its first recorded price, no halt, freeze or reversal in five years |
| Fungibility: every unit interchangeable, none the protocol can freeze or set apart | ✓ | no authority can freeze, blacklist or set apart a coin |
| Divisibility: the smallest unit worth a cent or less | ✓ | 30 decimal places, the smallest unit worth $3.4e-31 |
| Portability: fees of a cent or less and capacity for real demand | ✓ | typical fee $0; about 125 transactions a second (5.1 on the throughput scale; 5 is the busiest networks' median demand) |
| Verifiability: open-source nodes and checking without a trusted server | ✓ | node software open source; pruned nodes validate everything |
| Privacy (5 checks) | 2 | 1 of 5 passed source |
| Whitepaper privacy: keys are not tied to an identity | ✓ | Anyone can create keys and receive and send coins; the protocol carries no identity check. |
| UTXO ledger: a new key for each payment, no account linking every coin | ✗ | |
| Network-level privacy: the node hides where a transaction came from (Dandelion++, Tor or I2P, on by default) | ✗ | The nano-node floods blocks to peers directly; no Dandelion-style relay or built-in Tor. |
| Hidden amounts (confidential transactions, RingCT, shielded pools, Mimblewimble) | ✗ | Balances and amounts are public in every account chain. |
| Hidden sender and receiver (ring signatures or zero-knowledge proofs, one-time or stealth addresses) | ✗ | Sender and receiver accounts are public; no ring signatures or stealth addresses. |
| Scalability (fees, throughput, block time, block space, features) | 7.3 | average of 3 parts source |
| Fees ($0.001 or less 10, $1 or more 0) | 10 | typical fee $0 |
| Throughput (2,478 a second, the busiest network's peak day, 10; 119, the median of the ten busiest, 5) | 5.1 | about 125 simple transactions a second |
| Block time (10 minutes 10, less either side) | – | not yet measured |
| Block space per 10 minutes (32 MB or more 10) | – | not yet measured |
| Features (3 checks) | 6.7 | 2 of 3 passed |
| Payments safe to accept within seconds | ✓ | Open Representative Voting confirms (cements) a block in under a second once representatives holding a quorum of online weight vote for it. |
| Pruned nodes: a full node can validate and drop old history | ✓ | nano-node experimental ledger pruning (--enable_pruning, max_pruning_age) lets non-voting nodes discard old blocks and keep account frontiers. |
| Light clients verify payments from headers or proofs, without a trusted server | ✗ | The block-lattice has no Merkle or finality proofs for clients; light wallets trust the node or RPC they query. |
| Security (miner pay and 7 checks) | 6 | 6 of 9 points source |
| Miners paid a day ($1,000 0, $10 million or more 10), 2 points | 0 | not mined |
| Its own hashrate: at least half its algorithm's largest, not merge-mined | ✗ | not mined |
| Largest pool or validator under 50% | ✓ | 29.1% |
| Largest three under 75% | ✓ | 44.7% |
| More than one maintained client | ✓ | 2 |
| Node software is open source | ✓ | The Nano Foundation maintains the reference nano-node (BSD-2-Clause) and sets the protocol roadmap; RsNano is an independent Rust port maintained by a separate developer. |
| Real on-chain use: 1,000+ transactions a day | ✓ | about 15,000 a day |
| No 51% attack or deep reorganisation in five years | ✓ | |
| Programmability (tokens, contracts, 5 checks) | 0 | 0 of 9 points source |
| Token issuance | 0 | No token issuance on the chain itself |
| Smart contracts | 0 | Every transaction is a fixed state block (send, receive, open, change representative); the protocol has no scripting. |
| Multisig and time locks | ✗ | State blocks carry one account signature and no multisig, time-lock or hash-lock field. |
| Atomic swaps with other chains | ✗ | No hash locks or time locks can be expressed in a state block. |
| An exchange built into the protocol | ✗ | The ledger records only XNO balances; no exchange. |
| Cross-chain messaging the chain verifies itself | ✗ | No cross-chain feature in the protocol. |
| Non-fungible tokens | ✗ | No token or NFT type in the block-lattice ledger. |
| Decentralisation | 8.1 | section average, 6 of 8 measured |
| Censorship resistant (Source) | 10 | No authority can halt the chain or freeze funds: No party can freeze or claw back XNO; representatives can only vote on conflicting blocks. source |
| No central team (Source) | 0 | A central team directs it: The Nano Foundation maintains the reference nano-node (BSD-2-Clause) and sets the protocol roadmap; RsNano is an independent Rust port maintained by a separate developer. source |
| Who can mint (Source) | 8.6 | Proof of stake: 8.6 of 10 on the ladder of who produces blocks |
| Nodes (Source) | — | Not yet counted |
| Holder concentration (Source) | — | Not yet measured |
| Premine (allocated at launch) | 10 | Fair launch: no premine |
| Fundraising | 10 | No sale of the coin |
| Developer share (after launch) | 10 | No developer share: every new coin goes to the miners or validators who produce blocks. Nano has no issuance at all: the full supply was created at genesis and distributed by captcha faucet (2015-2017), and representatives earn nothing. There is nothing to cut. source |
| Supply & Demand | 7.4 | group average |
| Supply & Demand (Source) | 5.9 | average of 6 measures |
| Exchanges (10 or more: 10) | 10 | 11 exchanges |
| Daily volume ($10K 0, $1B or more 10) | 2.5 | $59,450 traded in 24 hours; #1280 by volume on the exchanges the site reads (scored on the median day of the last 30, $172,287) |
| Turnover (volume ÷ market cap, 5% a day: 10) | 3.8 | 0.34% of its market cap a day, median of the last 30 days |
| Order-book depth (bids and asks within 2% ÷ market cap, 1%: 10) | 5.2 | $16,632 within 2% of the price on 2 exchanges, 0.04% of its market cap, median of the last 2 days |
| Market cap ($1M 0, $10B or more 10) | 4.1 | $45M, 4.1 on a scale of 2.5 points per tenfold |
| Paper trading (futures, options and margin ÷ market cap, 0%: 10, 100%: 0) | 9.8 | futures, options and margin positions 0.03% of its market cap |
| Supply (smaller is better) | 8.9 | fixed maximum supply of 133 million |
| Record | 8.3 | group average |
| Record (origin, claims, halts) | 10 | 3 positive, 0 negative source |
| Positive record | ||
| Launched with a stated purpose, not as a joke | ✓ | |
| No claims by its founders that contradict its own design | ✓ | |
| No halt, freeze or reversal in five years | ✓ | |
| Age (years since genesis) (Source) | 9 | 9 full years since 2017-03-07, the first day with a recorded price (genesis not yet researched, so the age can only be understated). |
| Development (work, improvements, unfixed issues) | 6 | 1 positive, 0 negative source |
| Positive | ||
| Steady work, 6 of 6 | ✓ | 457 commits in 12 of the last 12 months (github.com/nanocurrency/nano-node); nano-node V28.2 current stable (V28.0 Jan 2025); V29.0 development builds weekly to 2026-10-24. |
Twenty criteria, weighted equally. The Cryptocurrency Standards have six sections: sound money qualities (six checks: scarcity, durability, fungibility, divisibility, portability, verifiability), privacy (five checks), scalability (four measures and three features), security (miner pay and seven checks), programmability (token issuance, smart contracts and five checks) and decentralisation (censorship resistance, no central team, who can mint, nodes, holders, premine, fundraising and developer share). Provisional: criteria marked — are not yet measured and are left out of the average. A rating of structure and market depth, not a price forecast or investment advice. How the grade is built · Highest-graded cryptocurrencies.
133,248,297 of a maximum 133,248,297 XNO are in circulation — effectively all of them.
| Developer share received since launch | 0% of today's supply |
|---|---|
| Developer share of new coins today | 0% |
Nano has no issuance at all: the full supply was created at genesis and distributed by captcha faucet (2015-2017), and representatives earn nothing. There is nothing to cut.
Sources: docs.nano.org · docs.nano.org. Researched 2026-10-24, high confidence.
No SEC/CFTC determination — unclassified.
The regulator's position, reported as stated, not CoinSpectrum's. Assets nobody has ruled on are left unclassified rather than sorted by a guess.
Nano is #85 among cryptocurrencies and #505 in the market ranking, which lists wrapped coins, staked derivatives, stablecoins and tokens alongside them. CoinSpectrum counts an asset once, and counts only cryptocurrencies: assets with their own blockchain and their own consensus. A wrapped coin, a staked derivative or a stablecoin is a claim on something already counted; a token, memecoin or otherwise, runs on another chain's blocks. All of them are listed, each in its own section, and none is added to the total. The 420 places between Nano's two ranks are held by claims and tokens, not by other networks. The methodology sets out the rule and the counting rule argues for it.
The price above is the median of the exchanges the site reads live, checked every minute and cross-checked against a market snapshot (how market data is gathered). The grade is scored on published criteria, each with its source (the method). The site is independent, nothing on it is a paid placement, and its statements are signed (about CoinSpectrum, the manifesto).