Hippo Protocol ranks #138 of 504 cryptocurrencies. On a list that also counts tokens, memecoins, wrapped coins, staked derivatives and stablecoins it appears at #904: 766 of the 903 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 1144 non-native assets CoinSpectrum lists above it by market cap, about 68% are tokens, 24% are claims on other assets and 8% are memecoins.
| CoinSpectrum Grade | B · 64/100 · provisional |
|---|---|
| Rank among cryptocurrencies | #138 |
| Rank counting claims | #904 |
| Market capitalisation | $11M |
| Price | $0.00762 |
| Circulating supply | 1,484,113,166 HP |
| Maximum supply | no fixed cap |
| Consensus family | Proof of Stake |
| Consensus mechanism | CometBFT (Cosmos SDK) |
| Ledger type | Multi-asset ledger |
Market figures from the 28 October 2026 build. Open the live view for every exchange's price, and charts.
B — 64 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 69 (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) | 5.6 | group average, 11 of 13 measured |
| Sound Money Qualities (6 checks) | 9 | 5.4 of 6 points source |
| Scarcity: a fixed cap that holds, and a supply near 21 million | 3.8 | no fixed maximum; 1.48 billion in circulation: supply scale 7.5, cap 0 |
| Durability: five years or more with no halt, freeze or reversal | ✓ | 5 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 $7.6e-21 |
| Portability: fees of a cent or less and capacity for real demand | ✓ | typical fee $0.0063; about 229 transactions a second (6.1 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; light clients verify from headers or proofs |
| Privacy (5 checks) | 2 | 1 of 5 passed source |
| Whitepaper privacy: keys are not tied to an identity | ✓ | Any key can hold and send HP; the Cosmos SDK bank and auth modules 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) | ✗ | CometBFT mempool gossip with no Dandelion or built-in Tor. |
| Hidden amounts (confidential transactions, RingCT, shielded pools, Mimblewimble) | ✗ | Transfers are public. |
| Hidden sender and receiver (ring signatures or zero-knowledge proofs, one-time or stealth addresses) | ✗ | Accounts are public. |
| Scalability (fees, throughput, block time, block space, features) | 6.6 | average of 5 parts source |
| Fees ($0.001 or less 10, $1 or more 0) | 7.3 | typical fee $0.0063 |
| Throughput (2,478 a second, the busiest network's peak day, 10; 119, the median of the ten busiest, 5) | 6.1 | about 229 simple transactions a second |
| Block time (10 minutes 10, less either side) | 2.8 | a block every 6.07 seconds |
| Block space per 10 minutes (32 MB or more 10) | 10 | 4.19 MB limit, 415 MB per 10 minutes |
| Features (3 checks) | 6.7 | 2 of 3 passed |
| Payments safe to accept within seconds | ✗ | CometBFT gives deterministic finality with ~6 s blocks (borderline on the 5 s line). |
| Pruned nodes: a full node can validate and drop old history | ✓ | Cosmos SDK state pruning and CometBFT state sync. |
| Light clients verify payments from headers or proofs, without a trusted server | ✓ | CometBFT light client protocol verifies signed headers against the validator set, as used by IBC. |
| Security (miner pay and 7 checks) | 4 | 4 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% | ✓ | 13.85% |
| Largest three under 75% | ✓ | 29.18% |
| More than one maintained client | ✗ | 1 |
| Node software is open source | ✓ | The Hippo Protocol team maintains the only node, hippo-protocol/hippo-protocol (MIT, Cosmos SDK). |
| Real on-chain use: 1,000+ transactions a day | ✗ | about 0 a day |
| No 51% attack or deep reorganisation in five years | ✓ | |
| Programmability (tokens, contracts, 5 checks) | 8.9 | 8 of 9 points source |
| Token issuance at protocol level, validated by its own nodes | 2 | CosmWasm added in the v2.0.0 upgrade (2026); the live mainnet allows code upload and instantiation by everybody, so CW-20 tokens are open to any account. |
| Smart contracts: a general-purpose contract system | 2 | CosmWasm added in the v2.0.0 upgrade (2026), with code upload and instantiation open to everybody. |
| Multisig and time locks | ✓ | Cosmos SDK threshold multisig keys and the x/auth/vesting module, plus CosmWasm contracts. |
| Atomic swaps with other chains | ✓ | HTLCs can be written as CosmWasm contracts. |
| An exchange built into the protocol | ✗ | No exchange module. |
| Cross-chain messaging the chain verifies itself | ✓ | IBC transfer module (ibc-go v8) in the app. |
| Non-fungible tokens | ✓ | The Cosmos SDK x/nft module is in the app, as are CW-721 contracts. |
| Decentralisation | 5.3 | section average, 6 of 8 measured |
| Censorship resistant (Source) | 10 | No authority can halt the chain or freeze funds: No freeze or clawback power located; no halts on record. source |
| No central team (Source) | 0 | A central team directs it: The Hippo Protocol team maintains the only node, hippo-protocol/hippo-protocol (MIT, Cosmos SDK). 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) | 2.7 | 73.2% of today's supply allocated at launch to founders, a company, a foundation or investors. Genesis: HP was swapped 1:1 from the pre-issued ERC-20 HPO (Hippocrat, formerly Humanscape HUM), whose supply is 1,084,734,273 (Ethereum totalSupply, 2026-10-23), against 1,481,022,881 HP on-chain supply (bank supply, 2026-10-24) = 73.2%. The ~79M that HIP-2 sends from the community pool to Foundation wallets comes from block issuance and is now scored as a block-reward cut, not premine. source |
| Fundraising | 2.7 | Sold by its issuer or insiders: 73.2% of supply was theirs to sell. Cannot be established. ICO Drops records a 2018 private round (500M HUM at $0.0002) and a public ICO (500M HUM at $0.0002), 1B of an implied 2.5B HUM. The 2019 contract migration to ~1.07B HUM and the later HPO/HP swaps make it unclear how many sold units survive in today's 1,481M HP. The $15.34M Series C (2023) was equity. Humanscape raised about $15.5M across three token rounds, some private (ICO Drops; investors include GC Pharma and KDB Bank). How much HUM/HPO was sold was not established. The company's separate roughly $15M Series C (2023) was equity. source |
| Developer share (after launch) | 7.5 | Developer share: about 24.6% of today's supply received so far; 92% of each new block reward goes to them today. The community tax has been 92% since genesis (genesis.md, current on-chain parameter), so 92% of staking rewards (inflation plus fees) goes to the community pool. Under HIP-2, governance sends it 72% to a data-node rewards wallet and 20% to Foundation-run treasury wallets. Minting is 1,481.02M - 1,084.73M (HPO swap) = 396.3M, and 92% of that is ~364.6M HP, 24.6% of supply. source |
| Supply & Demand | 6.4 | group average |
| Supply & Demand (Source) | 5.3 | average of 6 measures |
| Exchanges (10 or more: 10) | 4 | 4 exchanges |
| Daily volume ($10K 0, $1B or more 10) | 2.6 | $186,314 traded in 24 hours; #1196 by volume on the exchanges the site reads (scored on the median day of the last 30, $207,552) |
| Turnover (volume ÷ market cap, 5% a day: 10) | 7.5 | 1.7% of its market cap a day, median of the last 30 days |
| Order-book depth (bids and asks within 2% ÷ market cap, 1%: 10) | 4.9 | $3,342 within 2% of the price on 2 exchanges, 0.03% of its market cap, median of the last 2 days |
| Market cap ($1M 0, $10B or more 10) | 2.6 | $11M, 2.6 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) | 7.5 | no fixed maximum; 1.48 billion in circulation |
| 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) | 5 | 5 full years since 2021-01-06, the first day with a recorded price (genesis not yet researched, so the age can only be understated). |
| Development (work, improvements, unfixed issues) | 7 | 2 positive, 0 negative, 3 not yet researched source |
| Positive | ||
| Steady work, 6 of 6 | ✓ | 145 commits in 9 of the last 12 months (github.com/hippo-protocol/hippo-protocol); hippo-protocol/hippo-protocol v2.0.0, 2026-09-11; 4 releases since May 2025. |
| Shipped a security fix in two years, +1 | ✓ | Chain runs hippo-protocol 2.0.0 on CometBFT v0.38.21, past the Oct 2025 (GHSA-hrhf-2vcr-ghch) and Jan 2026 (CSA-2026-001) CometBFT security patches. |
| Not yet researched | ||
| 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.
1,484,113,166 HP are in circulation, against no fixed cap — issuance has no defined end.
| Premine (allocated at launch) | 73.2% of today's supply |
|---|---|
| Developer share received since launch | 24.6% of today's supply |
| Developer share of new coins today | 92% |
| Fundraising | Private or venture funding |
Genesis: HP was swapped 1:1 from the pre-issued ERC-20 HPO (Hippocrat, formerly Humanscape HUM), whose supply is 1,084,734,273 (Ethereum totalSupply, 2026-10-23), against 1,481,022,881 HP on-chain supply (bank supply, 2026-10-24) = 73.2%. The ~79M that HIP-2 sends from the community pool to Foundation wallets comes from block issuance and is now scored as a block-reward cut, not premine.
Humanscape raised about $15.5M across three token rounds, some private (ICO Drops; investors include GC Pharma and KDB Bank). How much HUM/HPO was sold was not established. The company's separate roughly $15M Series C (2023) was equity.
Cannot be established. ICO Drops records a 2018 private round (500M HUM at $0.0002) and a public ICO (500M HUM at $0.0002), 1B of an implied 2.5B HUM. The 2019 contract migration to ~1.07B HUM and the later HPO/HP swaps make it unclear how many sold units survive in today's 1,481M HP. The $15.34M Series C (2023) was equity.
The community tax has been 92% since genesis (genesis.md, current on-chain parameter), so 92% of staking rewards (inflation plus fees) goes to the community pool. Under HIP-2, governance sends it 72% to a data-node rewards wallet and 20% to Foundation-run treasury wallets. Minting is 1,481.02M - 1,084.73M (HPO swap) = 396.3M, and 92% of that is ~364.6M HP, 24.6% of supply.
The site has no label yet. The HIP-2 split is from one composite proposal (Prop 29); earlier batches are assumed to follow it. The figure assumes HP genesis equalled the HPO supply 1:1. If the node-rewards wallet is treated as discretionary, the figure rises to about 92%.
Sources: icodrops.com · coinmarketcap.com · github.com · github.com · api.hippo-protocol.com · polkachu.com. Researched 2026-10-24, low 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.
Hippo Protocol is #138 among cryptocurrencies and #904 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 766 places between Hippo Protocol'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).