Pearl ranks #35 of 504 cryptocurrencies. On a list that also counts tokens, memecoins, wrapped coins, staked derivatives and stablecoins it appears at #95: 60 of the 94 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 82 non-native assets CoinSpectrum lists above it by market cap, about 56% are claims on other assets, 39% are tokens and 5% are memecoins.
| CoinSpectrum Grade | A · 76/100 · provisional |
|---|---|
| Rank among cryptocurrencies | #35 |
| Rank counting claims | #95 |
| Market capitalisation | $638M |
| Price | $1.77 |
| Circulating supply | 361,053,626 PEARL |
| Maximum supply | 2,100,000,000 PEARL |
| Consensus family | Proof of Work |
| Consensus mechanism | Proof-of-Useful-Work (AI GPU matrix-mult) |
| Own hashrate | 68 EH/s |
| 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.
A — 76 out of 100, provisional (from 17 of 20 criteria, 28 October 2026 build). With what is not yet measured anywhere from nothing to full marks, the score would be 63 to 81 (C to A).
| Criterion | Score | Basis |
|---|---|---|
| Leading Consensus Mechanisms (Source) | 10 | group average |
| Consensus: leader ladder | 10 | Proof of work: 10 of 10 on the ladder of consensus families ranked by their largest chain's market cap |
| Consensus: family ladder | 10 | Proof of work: 10 of 10 on the ladder of families ranked by the combined market cap of their chains |
| Cryptocurrency Standards (Source) | 7.5 | group average, 10 of 13 measured |
| Sound Money Qualities (6 checks) | 9.8 | 4.9 of 5 points, 1 not yet measured source |
| Scarcity: a fixed cap that holds, and a supply near 21 million | 8.7 | fixed maximum supply of 2.1 billion: supply scale 7.3, cap 10 |
| Durability: five years or more with no halt, freeze or reversal | ✓ | 6 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 | ✓ | 8 decimal places, the smallest unit worth $1.8e-8 |
| Portability: fees of a cent or less and capacity for real demand | – | |
| Verifiability: open-source nodes and checking without a trusted server | ✓ | node software open source; light clients verify from headers or proofs |
| Privacy (5 checks) | 4 | 2 of 5 passed source |
| Whitepaper privacy: keys are not tied to an identity | ✓ | Anyone can generate keys and receive and send coins; the consensus rules carry 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) | ✗ | pearld (btcd fork) relays transactions directly; Tor onion support is optional configuration. |
| Hidden amounts (confidential transactions, RingCT, shielded pools, Mimblewimble) | ✗ | Bitcoin-style transparent transactions. |
| Hidden sender and receiver (ring signatures or zero-knowledge proofs, one-time or stealth addresses) | ✗ | No sender or receiver hiding. |
| Scalability (fees, throughput, block time, block space, features) | — | too few measures yet source |
| Fees ($0.001 or less 10, $1 or more 0) | – | not yet measured |
| Throughput (2,478 a second, the busiest network's peak day, 10; 119, the median of the ten busiest, 5) | – | not yet measured |
| Block time (10 minutes 10, less either side) | 8 | a block every 2.7 minutes |
| 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 | ✗ | Bitcoin-style proof-of-work blocks about every 2.5-3 minutes; no zero-confirmation protection. |
| Pruned nodes: a full node can validate and drop old history | ✓ | pearld inherits btcd --prune, which deletes validated blocks above a size target. |
| Light clients verify payments from headers or proofs, without a trusted server | ✓ | Pearl monorepo ships an SPV light client using compact block filters (neutrino), mainnet since 27 Apr 2026. |
| Security (miner pay and 7 checks) | 7.6 | 7.6 of 9 points source |
| Miners paid a day ($1,000 0, $10 million or more 10), 2 points | 8.1 | about $1,676,557 a day |
| Its own hashrate: at least half its algorithm's largest, not merge-mined | ✓ | |
| Largest pool or validator under 50% | ✓ | 44.7% |
| Largest three under 75% | ✓ | 74.1% |
| More than one maintained client | ✗ | 1 |
| Node software is open source | ✓ | Pearl Research Labs maintains pearld (a btcd-derived full node, ISC licence) in its monorepo. |
| Real on-chain use: 1,000+ transactions a day | ✓ | about 6,493 a day |
| No 51% attack or deep reorganisation in five years | ✓ | |
| Programmability (tokens, contracts, 5 checks) | 3.3 | 3 of 9 points source |
| Token issuance | 0 | No token issuance on the chain itself |
| Smart contracts: scripting for spending conditions | 1 | btcd-derived Script (with Taproot, and OP_CAT enabled) limited to spending conditions; no contract applications on the base layer. |
| Multisig and time locks | ✓ | OP_CHECKMULTISIG / OP_CHECKSIGADD plus OP_CHECKLOCKTIMEVERIFY and OP_CHECKSEQUENCEVERIFY in pearld's txscript. |
| Atomic swaps with other chains | ✓ | Hash opcodes with CLTV/CSV express HTLCs, as in BIP 199. |
| An exchange built into the protocol | ✗ | No exchange in the protocol. |
| Cross-chain messaging the chain verifies itself | ✗ | No protocol messaging to other chains. |
| Non-fungible tokens | ✗ | No token type in the protocol. |
| Decentralisation | 8.3 | section average, 6 of 8 measured |
| Censorship resistant (Source) | 10 | No authority can halt the chain or freeze funds: Bitcoin-style UTXO chain with no freeze or admin key. source |
| No central team (Source) | 0 | A central team directs it: Pearl Research Labs maintains pearld (a btcd-derived full node, ISC licence) in its monorepo. source |
| Who can mint (Source) | 10 | Proof of work: 10 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 | 0% of today's supply allocated at launch to founders, a company, a foundation or investors. No genesis allocation reported: the project describes the 27 Apr 2026 launch as having no pre-mine or investor allocation, and every PRL (about 332M mined by 2 Oct 2026, cap 2.1B) enters circulation through block rewards. source |
| Fundraising | 10 | No sale of the coin source |
| Developer share (after launch) | 10 | No developer share: every new coin goes to the miners or validators who produce blocks. No protocol cut found: the project and independent write-ups describe mining as the only source of PRL, with nothing allocated to founders or investors in the reward code. The 20% fee on the official Pearl pool is a pool operator's charge, not a protocol share, and team mining at the low launch difficulty is undisclosed. source |
| Supply & Demand | 5.9 | group average |
| Supply & Demand (Source) | 4.4 | average of 6 measures |
| Exchanges (10 or more: 10) | 4 | 4 exchanges |
| Daily volume ($10K 0, $1B or more 10) | 3.5 | $857,211 traded in 24 hours; #866 by volume on the exchanges the site reads (scored on the median day of the last 2, $541,275) |
| Turnover (volume ÷ market cap, 5% a day: 10) | 0.2 | 0.07% of its market cap a day, median of the last 3 days |
| Order-book depth (bids and asks within 2% ÷ market cap, 1%: 10) | 1.9 | $24,287 within 2% of the price on 1 exchange, 0.00% of its market cap, median of the last 2 days |
| Market cap ($1M 0, $10B or more 10) | 7 | $638M, 7 on a scale of 2.5 points per tenfold |
| Paper trading (futures, options and margin ÷ market cap, 0%: 10, 100%: 0) | 10 | no futures, options or margin on the exchanges read |
| Supply (smaller is better) | 7.3 | fixed maximum supply of 2.1 billion |
| Record | 7.3 | 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) | 6 | 6 full years since 2020-09-06, 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, 4 not yet researched source |
| Positive | ||
| Steady work, 6 of 6 | ✓ | 212 commits in 7 of the last 12 months (github.com/pearl-research-labs/pearl); pearl v1.5.3, 21 Oct 2026 (mainnet since 27 Apr 2026; frequent releases). |
| Not yet researched | ||
| Shipped a security fix in two years | – | |
| Shipped a privacy improvement in two years | – | |
| Shipped a scaling upgrade in two years | – | |
| Shipped a new capability for users in two years | – | |
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.
361,053,626 of a maximum 2,100,000,000 PEARL are in circulation — 17.2% of the total that will ever exist.
| Premine (allocated at launch) | 0% of today's supply |
|---|---|
| Developer share received since launch | 0% of today's supply |
| Developer share of new coins today | 0% |
| Fundraising | No sale and no investor round |
No genesis allocation reported: the project describes the 27 Apr 2026 launch as having no pre-mine or investor allocation, and every PRL (about 332M mined by 2 Oct 2026, cap 2.1B) enters circulation through block rewards.
No token sale and no announced venture round for Pearl Research Labs; company funding and team PRL holdings are undisclosed.
No protocol cut found: the project and independent write-ups describe mining as the only source of PRL, with nothing allocated to founders or investors in the reward code. The 20% fee on the official Pearl pool is a pool operator's charge, not a protocol share, and team mining at the low launch difficulty is undisclosed.
Sources: datawallet.com · hashrateindex.com · parameter.io · github.com · pearlresearch.ai. Researched 2026-10-24, medium confidence.
Pearl is secured by 68 EH/s of its own work. Hashrate does not compare across algorithms — a SHA-256 hash and a Scrypt hash cost different amounts to produce.
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.
Pearl is #35 among cryptocurrencies and #95 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 60 places between Pearl'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).