Theta Network ranks #56 of 504 cryptocurrencies. On a list that also counts tokens, memecoins, wrapped coins, staked derivatives and stablecoins it appears at #193: 137 of the 192 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 191 non-native assets CoinSpectrum lists above it by market cap, about 51% are claims on other assets, 43% are tokens and 6% are memecoins.
| CoinSpectrum Grade | B · 65/100 · provisional |
|---|---|
| Rank among cryptocurrencies | #56 |
| Rank counting claims | #193 |
| Market capitalisation | $177M |
| Price | $0.1766 |
| Circulating supply | 1,000,000,000 THETA |
| Maximum supply | 1,000,000,000 THETA |
| Consensus family | Proof of Stake |
| Consensus mechanism | Multi-Level BFT (PoS) |
| Network purpose | DePIN |
| Ledger type | Multi-asset ledger |
| Launch distribution | Presale |
Market figures from the 28 October 2026 build. Open the live view for every exchange's price, and charts.
B — 65 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 58 to 68 (C to B).
| 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) | 5.4 | group average, 11 of 13 measured |
| Sound Money Qualities (6 checks) | 9.8 | 5.9 of 6 points source |
| Scarcity: a fixed cap that holds, and a supply near 21 million | 8.9 | fixed maximum supply of 1 billion: supply scale 7.8, cap 10 |
| Durability: five years or more with no halt, freeze or reversal | ✓ | 8 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 | ✓ | 18 decimal places, the smallest unit worth $1.8e-19 |
| Portability: fees of a cent or less and capacity for real demand | ✓ | typical fee $0.0007; about 134 transactions a second (5.2 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) | ✗ | Theta nodes relay transactions directly. |
| Hidden amounts (confidential transactions, RingCT, shielded pools, Mimblewimble) | ✗ | No confidential 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) | 6.3 | average of 5 parts source |
| Fees ($0.001 or less 10, $1 or more 0) | 10 | typical fee $0.0007 |
| Throughput (2,478 a second, the busiest network's peak day, 10; 119, the median of the ten busiest, 5) | 5.2 | about 134 simple transactions a second |
| Block time (10 minutes 10, less either side) | 3.1 | a block every 7.08 seconds |
| Block space per 10 minutes (32 MB or more 10) | 10 | 12.6 MB limit, 1070 MB per 10 minutes |
| Features (3 checks) | 3.3 | 1 of 3 passed |
| Payments safe to accept within seconds | ✗ | Blocks arrive about every 7 s and the guardian layer finalises after that, so finality is above 5 s. |
| Pruned nodes: a full node can validate and drop old history | ✓ | Theta ledger uses reference-counting history pruning (storage.statePruningEnabled). |
| Light clients verify payments from headers or proofs, without a trusted server | ✗ | No light-client protocol for users; wallets trust RPC servers. |
| Security (miner pay and 7 checks) | 5 | 5 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% | ✓ | 26.7% |
| Largest three under 75% | ✓ | 65.9% |
| More than one maintained client | ✗ | 1 |
| Node software is open source | ✓ | Theta Labs maintains the only node, thetatoken/theta-protocol-ledger (GPL-3.0), and the roadmap. |
| Real on-chain use: 1,000+ transactions a day | ✓ | about 13,659 a day |
| No 51% attack or deep reorganisation in five years | ✓ | |
| Programmability (tokens, contracts, 5 checks) | 8.8 | 7 of 8 points, 1 not yet researched source |
| Token issuance at protocol level, validated by its own nodes | 2 | TNT-20 (ERC-20 compatible) contracts on the Theta EVM, open to any account since Mainnet 3.0 in 2021. |
| Smart contracts: a general-purpose contract system | 2 | The Theta Virtual Machine, EVM-compatible (Constantinople plus Istanbul features), with Ethereum RPC support since v3.1.0 in July 2021. |
| Multisig and time locks | ✓ | Multisig and timelock contracts on the EVM-compatible Theta VM. |
| Atomic swaps with other chains | ✓ | EVM HTLC contracts (hash lock plus timelock refund). |
| An exchange built into the protocol | ✗ | No exchange in the protocol. |
| Cross-chain messaging the chain verifies itself | – | Metachain subchain code has a built-in interchain messaging channel to the main chain for TFuel and TNT tokens, but the docs do not say who verifies the transfers. |
| Non-fungible tokens | ✓ | TNT-721 (ERC-721 compatible) contracts on the Theta VM. |
| Decentralisation | 4.6 | section average, 6 of 8 measured |
| Censorship resistant (Source) | 10 | No authority can halt the chain or freeze funds: No protocol freeze power located; no halts on record. source |
| No central team (Source) | 0 | A central team directs it: Theta Labs maintains the only node, thetatoken/theta-protocol-ledger (GPL-3.0), and the roadmap. source |
| Who can mint (Source) | 7.6 | Proof of stake: 8.6 of 10 on the ladder of who produces blocks, less 1 point: block producers are admitted from a permissioned list (allow list, federation or council) |
| Nodes (Source) | — | Not yet counted |
| Holder concentration (Source) | — | Not yet measured |
| Premine (allocated at launch) | 0 | 100% of today's supply allocated at launch to founders, a company, a foundation or investors. THETA has a fixed 1B supply, all allocated by Theta Labs at issuance (private sale 300M, partners 125M, network seeding 125M, team 74.9M, advisors 12.3M, plus Theta Labs holdings), and the current total supply is still 1B (CoinGecko, 2026-10-23). source |
| Fundraising | 0 | Sold by its issuer or insiders: 100% of supply was theirs to sell, 30% sold so far. Private token sale (Q4 2017 to Jan 2018) of 300M THETA at ~$0.067, raising ~$20M; no public sale. 300M / 1B fixed total supply (CoinGecko, 2026-10-23) = 30.0%. Private token sale (Q4 2017 to January 2018) of 300M THETA (30%) at $0.067, raising $20M; no public sale. Theta Labs also raised equity before and after (investors listed by ICO Drops include DHVC, Sierra Ventures, Samsung NEXT, Sony Innovation Fund and DCM). source |
| Developer share (after launch) | 10 | No developer share: every new coin goes to the miners or validators who produce blocks. No cut and no new issuance: THETA has a fixed 1B supply; staking rewards are paid in TFUEL, a separate token. source |
| Supply & Demand | 7.5 | group average |
| Supply & Demand (Source) | 7.2 | average of 6 measures |
| Exchanges (10 or more: 10) | 10 | 31 exchanges |
| Daily volume ($10K 0, $1B or more 10) | 5 | $1,575,926 traded in 24 hours; #339 by volume on the exchanges the site reads (scored on the median day of the last 30, $3,051,029) |
| Turnover (volume ÷ market cap, 5% a day: 10) | 6.9 | 1.3% of its market cap a day, median of the last 30 days |
| Order-book depth (bids and asks within 2% ÷ market cap, 1%: 10) | 7.9 | $406,240 within 2% of the price on 5 exchanges, 0.23% of its market cap, median of the last 2 days |
| Market cap ($1M 0, $10B or more 10) | 5.6 | $177M, 5.6 on a scale of 2.5 points per tenfold |
| Paper trading (futures, options and margin ÷ market cap, 0%: 10, 100%: 0) | 8 | futures, options and margin positions 4.1% of its market cap |
| Supply (smaller is better) | 7.8 | fixed maximum supply of 1 billion |
| Record | 8 | 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) | 8 | 8 full years since 2018-01-16, 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 | ✓ | 14 commits in 8 of the last 12 months (github.com/thetatoken/theta-protocol-ledger); thetatoken/theta-protocol-ledger v4.1.3, 2026-05-07; 4 releases in 24 months (v4.1.0 to v4.1.3). |
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.
1,000,000,000 of a maximum 1,000,000,000 THETA are in circulation — effectively all of them.
| Premine (allocated at launch) | 100% of today's supply |
|---|---|
| Sold by the issuer or insiders | 30% of today's supply |
| Developer share received since launch | 0% of today's supply |
| Developer share of new coins today | 0% |
| Fundraising | Private or venture funding |
THETA has a fixed 1B supply, all allocated by Theta Labs at issuance (private sale 300M, partners 125M, network seeding 125M, team 74.9M, advisors 12.3M, plus Theta Labs holdings), and the current total supply is still 1B (CoinGecko, 2026-10-23).
Private token sale (Q4 2017 to January 2018) of 300M THETA (30%) at $0.067, raising $20M; no public sale. Theta Labs also raised equity before and after (investors listed by ICO Drops include DHVC, Sierra Ventures, Samsung NEXT, Sony Innovation Fund and DCM).
Private token sale (Q4 2017 to Jan 2018) of 300M THETA at ~$0.067, raising ~$20M; no public sale. 300M / 1B fixed total supply (CoinGecko, 2026-10-23) = 30.0%.
No cut and no new issuance: THETA has a fixed 1B supply; staking rewards are paid in TFUEL, a separate token.
Sources: icodrops.com · coingecko.com · docs.thetatoken.org · etherscan.io. 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.
Theta Network is #56 among cryptocurrencies and #193 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 137 places between Theta Network'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).