Internet Computer ranks #24 of 504 cryptocurrencies. On a list that also counts tokens, memecoins, wrapped coins, staked derivatives and stablecoins it appears at #65: 41 of the 64 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 51 non-native assets CoinSpectrum lists above it by market cap, about 57% are claims on other assets, 35% are tokens and 8% are memecoins.
| CoinSpectrum Grade | C · 53/100 · provisional |
|---|---|
| Rank among cryptocurrencies | #24 |
| Rank counting claims | #65 |
| Market capitalisation | $1.4B |
| Price | $2.58 |
| Circulating supply | 558,183,407 ICP |
| Maximum supply | no fixed cap |
| Consensus family | Other |
| Consensus mechanism | Threshold Relay / chain-key |
| Network purpose | Distributed compute |
| Ledger type | Multi-asset ledger |
| Launch distribution | Presale |
| Regulatory class | Contested |
Market figures from the 28 October 2026 build. Open the live view for every exchange's price, and charts.
C — 53 out of 100, provisional (from 19 of 20 criteria, 28 October 2026 build). With what is not yet measured anywhere from nothing to full marks, the score would be 50 to 57 (D to C).
| Criterion | Score | Basis |
|---|---|---|
| Leading Consensus Mechanisms (Source) | 6.4 | group average |
| Consensus: leader ladder | 6.4 | Other: 6.4 of 10 on the ladder of consensus families ranked by their largest chain's market cap |
| Consensus: family ladder | 6.4 | Other: 6.4 of 10 on the ladder of families ranked by the combined market cap of their chains |
| Cryptocurrency Standards (Source) | 4.2 | group average, 12 of 13 measured |
| Sound Money Qualities (6 checks) | 5.7 | 3.4 of 6 points source |
| Scarcity: a fixed cap that holds, and a supply near 21 million | 4.1 | no fixed maximum; 558 million in circulation: supply scale 8.1, cap 0 |
| Durability: five years or more with no halt, freeze or reversal | ✗ | 5 full years since its first recorded price, one halt, freeze or reversal in five years |
| Fungibility: every unit interchangeable, none the protocol can freeze or set apart | ✗ | an authority can freeze funds: The NNS DAO controls every system canister including the ICP ledger and can halt or recover subnets by proposal, which it has done (subnet halts and recoveries in 2024). |
| Divisibility: the smallest unit worth a cent or less | ✓ | 8 decimal places, the smallest unit worth $2.6e-8 |
| Portability: fees of a cent or less and capacity for real demand | ✓ | typical fee $0.00026; about 250 transactions a second (6.2 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; 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 principal or account identifier can hold and send ICP; the ledger canister 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) | ✗ | Messages reach subnets via boundary nodes directly; no origin hiding. |
| Hidden amounts (confidential transactions, RingCT, shielded pools, Mimblewimble) | ✗ | No confidential transactions in the ICP ledger. |
| 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) | 6.6 | average of 4 parts source |
| Fees ($0.001 or less 10, $1 or more 0) | 10 | typical fee $0.00026 |
| Throughput (2,478 a second, the busiest network's peak day, 10; 119, the median of the ten busiest, 5) | 6.2 | about 250 simple transactions a second |
| Block time (10 minutes 10, less either side) | 0 | a block every 1 second |
| Block space per 10 minutes (32 MB or more 10) | – | not yet measured |
| Features (3 checks) | 10 | 3 of 3 passed |
| Payments safe to accept within seconds | ✓ | Subnet consensus finalises blocks in about 1-2 seconds, and ICP ledger transfers are final once the block is finalised. |
| Pruned nodes: a full node can validate and drop old history | ✓ | Replicas sync from certified checkpoints and replay only recent blocks instead of keeping full block history. |
| Light clients verify payments from headers or proofs, without a trusted server | ✓ | Chain-key certification: responses carry a subnet threshold-BLS certificate verifiable against the single IC root public key, with no header download. |
| Security (miner pay and 7 checks) | 3.9 | 3 of 7 points, 2 not yet measured 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% | – | |
| Largest three under 75% | – | |
| More than one maintained client | ✗ | 1 |
| Node software is open source | ✓ | The DFINITY Foundation develops the replica in dfinity/ic, mostly Apache 2.0 with some files under the non-OSI IC Community Source License, and writes nearly all NNS proposals for upgrades. |
| Real on-chain use: 1,000+ transactions a day | ✓ | about 35,000 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 | ICRC-1/ICRC-2 ledger canisters (smart contracts) that any developer can deploy for cycles. |
| Smart contracts: a general-purpose contract system | 2 | Wasm canisters deployable by any developer for cycles, running DEXs and other applications. |
| Multisig and time locks | ✓ | Through canisters: multi-approval custody (DFINITY's Orbit station) and canister timers that run code after a delay. |
| Atomic swaps with other chains | ✓ | Canisters can hold assets against a hash preimage with a timer-based refund, and can sign Bitcoin transactions via threshold signatures. |
| An exchange built into the protocol | ✗ | No exchange in the protocol; ICPSwap and others are canisters. |
| Cross-chain messaging the chain verifies itself | ✓ | Native Bitcoin integration: ICP nodes run a Bitcoin adapter, a Bitcoin canister on a system subnet keeps the UTXO set, and subnet threshold signatures authorise BTC transactions, without bridges. |
| Non-fungible tokens | ✓ | ICRC-7, the base NFT standard for ICP canisters. |
| Decentralisation | 3.3 | section average, 7 of 8 measured |
| Censorship resistant (Source) | 0 | An authority can halt the chain or freeze funds: The NNS DAO controls every system canister including the ICP ledger and can halt or recover subnets by proposal, which it has done (subnet halts and recoveries in 2024). source |
| No central team (Source) | 0 | A central team directs it: The DFINITY Foundation develops the replica in dfinity/ic, mostly Apache 2.0 with some files under the non-OSI IC Community Source License, and writes nearly all NNS proposals for upgrades. source |
| Who can mint (Source) | 0.4 | Other: 1.4 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) | 9.3 | 618 reachable nodes source |
| Holder concentration (Source) | — | Not yet measured |
| Premine (allocated at launch) | 1.6 | 84.1% of today's supply allocated at launch to founders, a company, a foundation or investors. 469,213,710 ICP minted at genesis (May 2021) to seed/strategic/presale funders, DFINITY Foundation, team, early contributors, advisors and airdrop, against a current total supply of 558,146,004 ICP (ICP ledger API, 2026-10-23). source |
| Fundraising | 1.6 | Sold by its issuer or insiders: 84.1% of supply was theirs to sell, 30.8% sold so far. Genesis neurons (May 2021) for paying funders: 2017 seed 24.72%, 2018 strategic 7.00% and presale 4.96% = 36.68% of 469,213,710 ICP = 172.1M ICP. 172.1M / 558,146,004 ICP (ICP ledger, 2026-10-23) = 30.8%. 2017 seed round (~$3.9M from ~370 participants, receiving ~24.7% of genesis supply), followed by 2018 strategic and presale rounds with venture investors (reported a16z, Polychain); exact 2018 amounts not re-verified here. source |
| Developer share (after launch) | 10 | No developer share: every new coin goes to the miners or validators who produce blocks. New ICP is minted only as voting rewards to staked neurons and as node-provider rewards to the operators of the machines that run the network; neither is a dev, foundation or treasury cut, and no treasury is funded from issuance. source |
| Supply & Demand | 8.1 | group average |
| Supply & Demand (Source) | 8 | average of 6 measures |
| Exchanges (10 or more: 10) | 10 | 41 exchanges |
| Daily volume ($10K 0, $1B or more 10) | 6.8 | $15,543,932 traded in 24 hours; #77 by volume on the exchanges the site reads (scored on the median day of the last 30, $25,135,215) |
| Turnover (volume ÷ market cap, 5% a day: 10) | 7 | 1.4% of its market cap a day, median of the last 30 days |
| Order-book depth (bids and asks within 2% ÷ market cap, 1%: 10) | 8.7 | $5,843,180 within 2% of the price on 9 exchanges, 0.41% of its market cap, median of the last 2 days |
| Market cap ($1M 0, $10B or more 10) | 7.9 | $1.4B, 7.9 on a scale of 2.5 points per tenfold |
| Paper trading (futures, options and margin ÷ market cap, 0%: 10, 100%: 0) | 7.6 | futures, options and margin positions 5.6% of its market cap |
| Supply (smaller is better) | 8.1 | no fixed maximum; 558 million in circulation |
| Record | 7.3 | group average |
| Record (origin, claims, halts) | 9 | 2 positive, 1 negative source |
| Positive record | ||
| Launched with a stated purpose, not as a joke | ✓ | |
| No claims by its founders that contradict its own design | ✓ | |
| Negative record | ||
| Halt, freeze or reversal, 2024-12-26 | ✗ | Application subnet lhg73 stalled (one of several lhg73 stalls in Jul, Sep and Dec 2024) and was recovered through NNS subnet-recovery proposals; other subnets kept running. |
| Age (years since genesis) (Source) | 5 | 5 full years since 2021-05-12, the first day with a recorded price (genesis not yet researched, so the age can only be understated). |
| Development (work, improvements, unfixed issues) | 8 | 3 positive, 0 negative, 2 not yet researched source |
| Positive | ||
| Steady work, 6 of 6 | ✓ | 7,598 commits in 12 of the last 12 months (github.com/dfinity/ic); Weekly IC replica releases; latest release-2026-10-22_03-29-base. |
| Shipped a privacy improvement in two years, +1 | ✓ | vetKeys production key, Jun 2025: threshold key derivation for on-chain encryption. |
| Shipped a new capability for users in two years, +1 | ✓ | vetKeys production key (key_1), Jun 2025: canisters can derive encryption keys. |
| Not yet researched | ||
| Shipped a security fix in two years | – | |
| Shipped a scaling upgrade 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.
558,183,407 ICP are in circulation, against no fixed cap — issuance has no defined end.
| Premine (allocated at launch) | 84.1% of today's supply |
|---|---|
| Sold by the issuer or insiders | 30.8% of today's supply |
| Developer share received since launch | 0% of today's supply |
| Developer share of new coins today | 0% |
| Nodes or validators | 618 |
| Fundraising | Private or venture funding |
469,213,710 ICP minted at genesis (May 2021) to seed/strategic/presale funders, DFINITY Foundation, team, early contributors, advisors and airdrop, against a current total supply of 558,146,004 ICP (ICP ledger API, 2026-10-23).
2017 seed round (~$3.9M from ~370 participants, receiving ~24.7% of genesis supply), followed by 2018 strategic and presale rounds with venture investors (reported a16z, Polychain); exact 2018 amounts not re-verified here.
Genesis neurons (May 2021) for paying funders: 2017 seed 24.72%, 2018 strategic 7.00% and presale 4.96% = 36.68% of 469,213,710 ICP = 172.1M ICP. 172.1M / 558,146,004 ICP (ICP ledger, 2026-10-23) = 30.8%.
New ICP is minted only as voting rewards to staked neurons and as node-provider rewards to the operators of the machines that run the network; neither is a dev, foundation or treasury cut, and no treasury is funded from issuance.
Sources: kylelangham.substack.com · info.arkm.com · dashboard.internetcomputer.org · learn.internetcomputer.org · internetcomputer.org · ledger-api.internetcomputer.org. Researched 2026-10-24, medium confidence.
Alleged an unregistered security by the SEC (2023 complaint); not named a commodity in 2026 and not adjudicated — status unsettled.
The regulator's position, reported as stated, not CoinSpectrum's. Assets nobody has ruled on are left unclassified rather than sorted by a guess.
Internet Computer is #24 among cryptocurrencies and #65 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 41 places between Internet Computer'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).
See the 1 wrapped and staked claim on Internet Computer →