Radix ranks #212 of 504 cryptocurrencies. On a list that also counts tokens, memecoins, wrapped coins, staked derivatives and stablecoins it appears at #1667: 1455 of the 1666 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 1907 non-native assets CoinSpectrum lists above it by market cap, about 76% are tokens, 19% are claims on other assets and 5% are memecoins.
| CoinSpectrum Grade | C · 54/100 · provisional |
|---|---|
| Rank among cryptocurrencies | #212 |
| Rank counting claims | #1667 |
| Market capitalisation | $2M |
| Price | $0.000137 |
| Circulating supply | 13,560,779,487 XRD |
| Maximum supply | 24,000,000,000 XRD |
| Consensus family | Proof of Stake |
| Consensus mechanism | Cerberus (sharded BFT) |
| 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.
C — 54 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) | 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) | 4.4 | group average, 12 of 13 measured |
| Sound Money Qualities (6 checks) | 4.5 | 1.8 of 4 points, 2 not yet measured source |
| Scarcity: a fixed cap that holds, and a supply near 21 million | 8 | fixed maximum supply of 24 billion: supply scale 5.9, cap 10 |
| Durability: five years or more with no halt, freeze or reversal | ✗ | 5 full years since its first recorded price, 2 halts, freezes or reversals in five years |
| Fungibility: every unit interchangeable, none the protocol can freeze or set apart | ✗ | an authority can freeze funds: On 2026-08-31 validators, coordinating with the Foundation in an emergency call, deliberately broke liveness to stop all transactions for about 11 days, and Radix says it is formalising this emergency procedure; no per-account freeze or clawback exists. |
| Divisibility: the smallest unit worth a cent or less | ✓ | 18 decimal places, the smallest unit worth $1.4e-22 |
| Portability: fees of a cent or less and capacity for real demand | – | typical fee $0.00012 |
| Verifiability: open-source nodes and checking without a trusted server | – | node software open source |
| Privacy (5 checks) | 2 | 1 of 5 passed source |
| Whitepaper privacy: keys are not tied to an identity | ✓ | Accounts are virtual addresses derived from user-generated keys, with 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) | ✗ | babylon-node gossips transactions directly; no Dandelion or Tor. |
| Hidden amounts (confidential transactions, RingCT, shielded pools, Mimblewimble) | ✗ | Vault balances and transfers are public. |
| Hidden sender and receiver (ring signatures or zero-knowledge proofs, one-time or stealth addresses) | ✗ | Sender and receiver accounts are public. |
| Scalability (fees, throughput, block time, block space, features) | 5.8 | average of 3 parts source |
| Fees ($0.001 or less 10, $1 or more 0) | 10 | typical fee $0.00012 |
| 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) | 2.5 | a block every 5 seconds |
| Block space per 10 minutes (32 MB or more 10) | – | not yet measured |
| Features (3 checks) | 5 | 1 of 2 passed, 1 not yet researched |
| Payments safe to accept within seconds | ✓ | HotStuff-derived BFT with deterministic finality and rounds of about 0.2 s (109 rounds in 23 s on the Gateway, 2026-10-26), so commits are final within seconds. |
| Pruned nodes: a full node can validate and drop old history | – | Whether babylon-node can drop old ledger history was not established. |
| Light clients verify payments from headers or proofs, without a trusted server | ✗ | No light-client protocol; wallets use the Gateway API. |
| 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% | ✓ | 6.74% |
| Largest three under 75% | ✓ | 18.99% |
| More than one maintained client | ✗ | 1 |
| Node software is open source | ✓ | The only node, radixdlt/babylon-node (Java + Rust Radix Engine), is developed by RDX Works for the Radix Foundation, which ships every protocol update; it is published under the Radix License 1.0, an Apache-2.0-style permissive licence that is not OSI-approved. |
| Real on-chain use: 1,000+ transactions a day | ✓ | about 1,005 a day |
| No 51% attack or deep reorganisation in five years | ✓ | |
| Programmability (tokens, contracts, 5 checks) | 7.8 | 7 of 9 points source |
| Token issuance at protocol level, validated by its own nodes | 2 | Native resources: any account can create fungible and non-fungible tokens with the resource manager or Scrypto blueprints, since the Babylon mainnet (September 2023). |
| Smart contracts: a general-purpose contract system | 2 | Scrypto blueprints and components on the Radix Engine, open to any account since the Babylon mainnet (September 2023). |
| Multisig and time locks | ✓ | Access rules express n-of-m signing (require_n_of) natively, and Scrypto components can read second-precision network time (since Scrypto v1.1.0) to gate withdrawals. |
| Atomic swaps with other chains | ✓ | Scrypto can express hash-locked, time-locked escrow components. |
| An exchange built into the protocol | ✗ | No exchange in the engine; Ociswap and CaviarNine are Scrypto components. |
| Cross-chain messaging the chain verifies itself | ✗ | No protocol-level cross-chain messaging; bridges are third-party services. |
| Non-fungible tokens | ✓ | NonFungible resources are native to the Radix Engine. |
| Decentralisation | 4 | section average, 7 of 8 measured |
| Censorship resistant (Source) | 0 | An authority can halt the chain or freeze funds: On 2026-08-31 validators, coordinating with the Foundation in an emergency call, deliberately broke liveness to stop all transactions for about 11 days, and Radix says it is formalising this emergency procedure; no per-account freeze or clawback exists. source |
| No central team (Source) | 0 | A central team directs it: The only node, radixdlt/babylon-node (Java + Rust Radix Engine), is developed by RDX Works for the Radix Foundation, which ships every protocol update; it is published under the Radix License 1.0, an Apache-2.0-style permissive licence that is not OSI-approved. source |
| Who can mint (Source) | 8.6 | Proof of stake: 8.6 of 10 on the ladder of who produces blocks |
| Nodes (Source) | 6.7 | 100 active validators or block producers (source: Validators) |
| Holder concentration (Source) | — | Not yet measured |
| Premine (allocated at launch) | 1.2 | 88.5% of today's supply allocated at launch to founders, a company, a foundation or investors. The July 2021 genesis allocated 12B XRD: Radix Community (early BTC contributors 2013-17) 3,000M, Founder Retention (RDX Works) 2,400M, Stable Coin Reserve 2,400M (locked), Radix Tokens Jersey 2,158M, Oct 2020 token sale 642M, Developer Incentives 600M, Network Subsidy 600M, Liquidity Incentives 200M. Against ~13.56B current supply, that is ~88.5%. source |
| Fundraising | 1.2 | Sold by its issuer or insiders: 88.5% of supply was theirs to sell, 26.9% sold so far. October 2020 public token sale: 642M at $0.039 (~$25M). 3,000M went to early community members who contributed ~3,000 BTC to Dan Hughes in 2013-17, treated as a sale. source |
| Developer share (after launch) | 10 | No developer share: every new coin goes to the miners or validators who produce blocks. No cut. Network emissions (about 300M XRD a year, minted from the 24B cap) go entirely to validators and their stakers by epoch; developer and liquidity incentives were genesis allocations. source |
| Supply & Demand | 5.5 | group average |
| Supply & Demand (Source) | 5 | average of 6 measures |
| Exchanges (10 or more: 10) | 3 | 3 exchanges |
| Daily volume ($10K 0, $1B or more 10) | 2.1 | $87,481 traded in 24 hours; #1525 by volume on the exchanges the site reads (scored on the median day of the last 30, $110,749) |
| Turnover (volume ÷ market cap, 5% a day: 10) | 8.5 | 2.6% of its market cap a day, median of the last 30 days |
| Order-book depth (bids and asks within 2% ÷ market cap, 1%: 10) | 5.7 | $941 within 2% of the price on 2 exchanges, 0.05% of its market cap, median of the last 2 days |
| Market cap ($1M 0, $10B or more 10) | 0.7 | $1.9M, 0.7 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) | 5.9 | fixed maximum supply of 24 billion |
| Record | 6.7 | group average |
| Record (origin, claims, halts) | 9 | 2 positive, 2 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, 2023-12-03 | ✗ | Consensus halted for about 11.5 hours (22:26 UTC to 09:45 UTC on 4 December) when a node bug deleted part of the execution state store at the end of epoch 51816; liveness returned once validators holding over 66% of stake ran the patched v1.0.5. |
| Halt, freeze or reversal, 2026-08-31 | ✗ | After a Radix Engine vault-authorisation bug let an attacker withdraw about $1.26M from other users' vaults (26 transactions, 16:02-16:57 UTC), validators deliberately took enough stake offline at about 20:30 UTC to stop consensus; the network stayed halted until about 11 September 2026 and restarted from the state at which liveness was lost, with the fix shipped as a coordinated protocol update (node v1.4.0.0 'Eagle Ray', 2026-09-10). The Foundation also paused the Hyperlane Ethereum route by multisig. |
| Age (years since genesis) (Source) | 5 | 5 full years since 2021-08-23, the first day with a recorded price (genesis not yet researched, so the age can only be understated). |
| Development (work, improvements, unfixed issues) | 6 | 2 positive, 1 negative source |
| Positive | ||
| Steady work, 6 of 6 | ✓ | 43 commits in 5 of the last 12 months (github.com/radixdlt/babylon-node); Reference node radixdlt/babylon-node: Eagle Ray v1.4.0.0 released 2026-09-10 (the post-exploit protocol update), after Cuttlefish v1.3.0.5 on 2026-06-01; Gateway v1.10.7 in service on 2026-10-26. |
| Shipped a new capability for users in two years, +1 | ✓ | Cuttlefish protocol update (node v1.3.0), enacted Dec 2024: subintents and NotarizedTransactionV2 for pre-authorised transactions, CryptoUtilsV2. |
| Negative | ||
| Exploit of the chain, 2026-08-31, −1 | ✗ | An attacker used a Radix Engine vault-authorisation bug (from a June 2023 refactor) to withdraw about $1.26M from other users' vaults in 26 transactions; validators halted the network until user transactions resumed on 11 Sep 2026. |
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.
13,560,779,487 of a maximum 24,000,000,000 XRD are in circulation — 56.5% of the total that will ever exist.
| Premine (allocated at launch) | 88.5% of today's supply |
|---|---|
| Sold by the issuer or insiders | 26.9% of today's supply |
| Developer share received since launch | 0% of today's supply |
| Developer share of new coins today | 0% |
| Nodes or validators | 100 |
| Fundraising | Public sale |
The July 2021 genesis allocated 12B XRD: Radix Community (early BTC contributors 2013-17) 3,000M, Founder Retention (RDX Works) 2,400M, Stable Coin Reserve 2,400M (locked), Radix Tokens Jersey 2,158M, Oct 2020 token sale 642M, Developer Incentives 600M, Network Subsidy 600M, Liquidity Incentives 200M. Against ~13.56B current supply, that is ~88.5%.
October 2020 public token sale: 642M at $0.039 (~$25M). 3,000M went to early community members who contributed ~3,000 BTC to Dan Hughes in 2013-17, treated as a sale.
No cut. Network emissions (about 300M XRD a year, minted from the 24B cap) go entirely to validators and their stakers by epoch; developer and liquidity incentives were genesis allocations.
If the 2.4B Stable Coin Reserve is destroyed unused at its 10-year review, preminePct falls. RDX Works' sales of its retention tokens are not disclosed and are not counted in soldPct.
Sources: learn.radixdlt.com · radixdlt.com · radixdlt.com · radixdlt.com. Researched 2026-10-26, 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.
Radix is #212 among cryptocurrencies and #1667 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 1455 places between Radix'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 2 wrapped and staked claims on Radix →