Pendulum ranks #366 of 504 cryptocurrencies. On a list that also counts tokens, memecoins, wrapped coins, staked derivatives and stablecoins it appears at #5222: 4856 of the 5221 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.
| CoinSpectrum Grade | pending — launch under review |
|---|---|
| Rank among cryptocurrencies | #366 |
| Rank counting claims | #5222 |
| Price | $0.0100 |
| Circulating supply | 0 PEN |
| Maximum supply | 150,050,252 PEN |
| Consensus family | Proof of Stake |
| Consensus mechanism | Polkadot parachain (Aura collators, relay-chain finality) |
| Network purpose | Financial ledger |
| Ledger type | Single-asset ledger |
Market figures from the 28 October 2026 build. Open the live view for every exchange's price, and charts.
Grade pending. Pendulum's launch — how much went to insiders, whether it was sold to investors — is still being researched. A grade is not given until it is, so that a coin is never rated higher for what is not yet known.
| 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) | 7 | group average, 3 of 13 measured |
| Sound Money Qualities (6 checks) | — | 2 of 3 points, 3 not yet measured |
| Scarcity: a fixed cap that holds, and a supply near 21 million | 9.5 | fixed maximum supply of 150 million: supply scale 8.9, cap 10 |
| Durability: five years or more with no halt, freeze or reversal | ✗ | 3 full years since its first recorded price, record not yet reviewed |
| Fungibility: every unit interchangeable, none the protocol can freeze or set apart | – | |
| Divisibility: the smallest unit worth a cent or less | ✓ | 12 decimal places, the smallest unit worth $1.0e-14 |
| Portability: fees of a cent or less and capacity for real demand | – | |
| Verifiability: open-source nodes and checking without a trusted server | – | light clients verify from headers or proofs |
| Privacy (5 checks) | 2.5 | 1 of 5 passed, 1 not yet measured source |
| Whitepaper privacy: keys are not tied to an identity | ✓ | Substrate accounts anyone generates; no identity rule gating transfers. |
| 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) | ✗ | Pendulum runtime 27: Substrate libp2p without Dandelion or Tor. |
| Hidden amounts (confidential transactions, RingCT, shielded pools, Mimblewimble) | ✗ | Public balances. |
| Hidden sender and receiver (ring signatures or zero-knowledge proofs, one-time or stealth addresses) | ✗ | Public accounts; no ring signatures or stealth addresses. |
| 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) | 4.2 | a block every 15.1 seconds |
| Block space per 10 minutes (32 MB or more 10) | – | not yet measured |
| Features (3 checks) | 10 | 2 of 2 passed, 1 not yet researched |
| Payments safe to accept within seconds | – | |
| Pruned nodes: a full node can validate and drop old history | ✓ | Pendulum node: Polkadot SDK collator nodes support --state-pruning and --blocks-pruning. |
| Light clients verify payments from headers or proofs, without a trusted server | ✓ | Pendulum parachain: light clients (smoldot) verify parachain headers through Polkadot relay-chain GRANDPA finality proofs. |
| Security (miner pay and 7 checks) | — | 0 of 3 points, 6 not yet measured |
| 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 | – | |
| Node software is open source | – | |
| Real on-chain use: 1,000+ transactions a day | – | |
| No 51% attack or deep reorganisation in five years | – | |
| Programmability (tokens, contracts, 5 checks) | 10 | 9 of 9 points source |
| Token issuance at protocol level, validated by its own nodes | 2 | On the Pendulum parachain itself: ink!/Wasm smart contracts (pallet_contracts, open to any signed account, allowed by the call filter) with a tokens chain extension, on which PSP22-style tokens run. |
| Smart contracts: a general-purpose contract system | 2 | ink!/Wasm smart contracts (pallet_contracts) on the Pendulum parachain, open to any signed account and allowed by the base call filter. |
| Multisig and time locks | ✓ | pallet_multisig and pallet_vesting are in the runtime and allowed by the call filter. |
| Atomic swaps with other chains | ✓ | ink! contracts have SHA-256 hashing and the block timestamp, so HTLC contracts can be expressed. |
| An exchange built into the protocol | ✓ | The Zenlink protocol AMM pallet (ZenlinkProtocol) is part of the runtime and callable by users. |
| Cross-chain messaging the chain verifies itself | ✓ | Polkadot XCM (pallet_xcm, XCMP queue, orml_xtokens) is in the runtime, with messages checked through the relay chain. |
| Non-fungible tokens | ✓ | PSP34 (ERC-721-style) NFT contracts run on Pendulum's ink! contract pallet; there is no NFT pallet. |
| Decentralisation | 8.6 | section average, 1 of 8 measured |
| Censorship resistant (Source) | — | Not yet researched |
| No central team (Source) | — | Not yet researched |
| 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) | — | Launch not yet researched |
| Fundraising | — | Launch not yet researched |
| Developer share (after launch) | — | Not yet researched |
| Supply & Demand | 4.5 | group average |
| Supply & Demand (Source) | 0 | average of 2 measures |
| Exchanges (10 or more: 10) | 0 | no exchange the site reads trades it |
| Daily volume ($10K 0, $1B or more 10) | 0 | $40 traded in 24 hours; #3917 by volume |
| Turnover (volume ÷ market cap, 5% a day: 10) | – | not measured |
| Order-book depth (bids and asks within 2% ÷ market cap, 1%: 10) | – | not measured |
| Market cap ($1M 0, $10B or more 10) | – | not measured |
| Paper trading (futures, options and margin ÷ market cap, 0%: 10, 100%: 0) | – | not measured |
| Supply (smaller is better) | 8.9 | fixed maximum supply of 150 million |
| Record | 2 | group average, 2 of 3 measured |
| Record (origin, claims, halts) | — | Not yet reviewed |
| Age (years since genesis) (Source) | 3 | 3 full years since 2023-03-16, the first day with a recorded price (genesis not yet researched, so the age can only be understated). |
| Development (work, improvements, unfixed issues) | 1 | 1 positive, 0 negative source |
| Positive | ||
| Shipped a new capability for users in two years, +1 | ✓ | Pendulum release 25 (Mar 2026): native PEN teleports to Polkadot AssetHub. |
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.
0 of a maximum 150,050,252 PEN are in circulation — 0.0% of the total that will ever exist.
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.
Pendulum is #366 among cryptocurrencies and #5222 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 4856 places between Pendulum'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).