Nano ranks #85 of 508 cryptocurrencies. On a list that also counts tokens, memecoins, wrapped coins, staked derivatives and stablecoins it appears at #503: 418 of the 502 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 58% are tokens, 34% are claims on other assets and 8% are memecoins.
| CoinSpectrum Grade | A · 79/100 · provisional |
|---|---|
| Rank among cryptocurrencies | #85 |
| Rank counting claims | #503 |
| Market capitalisation | $45M |
| Price | $0.3375 |
| 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.
A — 79 out of 100, provisional (from 15 of 17 criteria, 28 October 2026 build). With what is not yet measured anywhere from nothing to full marks, the score would be 69 to 81 (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 | 7.3 | group average, 4 of 6 measured |
| Properties (10 whitepaper checks) (Source) | 6 | 6 of 10 passed source |
| Anyone can mint (permissionless) | ✗ | Block-lattice (ORV) |
| Limited supply | ✓ | fixed maximum of 133,248,297 |
| No pre-issuance or developer mint | ✓ | |
| No developer tax | ✓ | |
| No authority that can halt the chain or freeze funds | ✓ | No party can freeze or claw back XNO; representatives can only vote on conflicting blocks. |
| No central team | ✗ | 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. |
| Fees under one cent | ✓ | typical fee $0 |
| 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. |
| UTXO ledger | ✗ | |
| Privacy built into the protocol | ✗ | |
| Scalability (fees, throughput, block time, block space) | 8.5 | average of 2 measures source |
| Fees ($0.001 or less 10, $1 or more 0) | 10 | typical fee $0 |
| Throughput (1,000 transactions a second or more 10) | 7 | 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 |
| Security (9 checks) | 6 | 6 of 9 passed source |
| Miners paid over $1 million a day | ✗ | not mined |
| Miners paid over $100,000 a day | ✗ | |
| 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 | ✓ | |
| Decentralisation: who can mint (Source) | 8.6 | Proof of stake: 8.6 of 10 on the ladder of who produces blocks |
| Decentralisation: nodes (Source) | — | Not yet counted |
| Decentralisation: holder concentration (Source) | — | Not yet measured |
| Capabilities (protocol features) | 1.7 | 1 of 6 passed source |
| Decentralisation | ||
| 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. |
| 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. |
| Scalability | ||
| 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. |
| Native payment channels or instant payments | ✗ | No payment channels; Nano's sub-second ORV confirmation is fast finality, which does not count. |
| Security | ||
| 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. |
| Issuance | 10 | group average |
| 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 | 6.9 | group average |
| Supply & Demand (Source) | 5.5 | average of 6 measures |
| Exchanges (10 or more: 10) | 10 | 11 exchanges |
| Volume rank among the top 200 | 0 | $68,327 traded in 24 hours; #1298 by volume on the exchanges the site reads (ranked 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 | $16,419 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 |
| Futures exposure (open interest ÷ market cap, less is better) | 10 | perpetual open interest 0.03% of its market cap |
| Supply (smaller is better) | 8.3 | 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. |
Seventeen criteria, weighted equally. The Cryptocurrency Standards group four parts: properties (ten checks drawn from the Bitcoin whitepaper), scalability (four measures), security (nine checks) and decentralisation (three scales). 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 #503 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 418 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).