Secret ranks #176 of 504 cryptocurrencies. On a list that also counts tokens, memecoins, wrapped coins, staked derivatives and stablecoins it appears at #1262: 1086 of the 1261 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 1491 non-native assets CoinSpectrum lists above it by market cap, about 73% are tokens, 21% are claims on other assets and 7% are memecoins.
| CoinSpectrum Grade | B · 67/100 · provisional |
|---|---|
| Rank among cryptocurrencies | #176 |
| Rank counting claims | #1262 |
| Market capitalisation | $5M |
| Price | $0.00687 |
| Circulating supply | 688,891,041 SCRT |
| Maximum supply | no fixed cap |
| Consensus family | Proof of Stake |
| Consensus mechanism | Tendermint (CometBFT) |
| Network purpose | Private payments |
| Ledger type | Single-asset ledger |
Market figures from the 28 October 2026 build. Open the live view for every exchange's price, and charts.
B — 67 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 63 to 68 (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) | 6 | 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 | no fixed maximum; 689 million in circulation: supply scale 8, cap 0 |
| Durability: five years or more with no halt, freeze or reversal | ✗ | 6 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 | ✓ | no authority can freeze, blacklist or set apart a coin |
| Divisibility: the smallest unit worth a cent or less | ✓ | 6 decimal places, the smallest unit worth $6.9e-9 |
| Portability: fees of a cent or less and capacity for real demand | ✗ | typical fee $0.000082; about 60 transactions a second (3.9 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 | ✓ | Accounts are created from user-generated keys in the Cosmos SDK auth and bank modules, with no identity check on holding or sending. |
| 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 gossips transactions directly from the submitting node; no Dandelion-style relay or built-in Tor. |
| Hidden amounts (confidential transactions, RingCT, shielded pools, Mimblewimble) | ✗ | Encrypted amounts apply to SNIP-20 tokens such as sSCRT in secret contracts; native SCRT bank transfers are public. |
| Hidden sender and receiver (ring signatures or zero-knowledge proofs, one-time or stealth addresses) | ✗ | The signing account of every transaction is public; no ring signatures or stealth addresses. |
| Scalability (fees, throughput, block time, block space, features) | 6.7 | average of 5 parts source |
| Fees ($0.001 or less 10, $1 or more 0) | 10 | typical fee $0.000082 |
| Throughput (2,478 a second, the busiest network's peak day, 10; 119, the median of the ten busiest, 5) | 3.9 | about 60 simple transactions a second |
| Block time (10 minutes 10, less either side) | 2.7 | a block every 5.59 seconds |
| Block space per 10 minutes (32 MB or more 10) | 10 | 1.05 MB limit, 113 MB per 10 minutes |
| Features (3 checks) | 6.7 | 2 of 3 passed |
| Payments safe to accept within seconds | ✗ | CometBFT gives single-block deterministic finality, but blocks average about 5.6 s, so acceptance takes longer than five seconds. |
| Pruned nodes: a full node can validate and drop old history | ✓ | Cosmos SDK pruning plus CometBFT min-retain-blocks and state sync let a node keep current state and recent blocks only. |
| Light clients verify payments from headers or proofs, without a trusted server | ✓ | CometBFT light client verifies headers against validator-set signatures (weak-subjectivity trust period), with IAVL Merkle proofs for state. |
| 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% | ✓ | 13.93% |
| Largest three under 75% | ✓ | 26.82% |
| More than one maintained client | ✗ | 1 |
| Node software is open source | ✓ | SCRT Labs built and maintained secretd until it withdrew around 1 Sep 2026; the only maintained client is now the Secret³ Dev fork (Secret3dev/SecretNetwork), with stewardship by a new entity under the Secret Network Foundation. The code is open source (Apache-style licence in the repository). |
| Real on-chain use: 1,000+ transactions a day | ✓ | about 1,300 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 | SNIP-20 tokens on Secret Contracts (CosmWasm with encrypted state), open to any account. |
| Smart contracts: a general-purpose contract system | 2 | Secret Contracts (CosmWasm with encrypted state in SGX enclaves), open to any account. |
| Multisig and time locks | ✓ | Cosmos SDK multisig accounts, and contracts that can check block time or height. |
| Atomic swaps with other chains | ✓ | Hash-locked, time-locked contracts can be written as Secret Contracts. |
| An exchange built into the protocol | ✗ | No exchange module in the chain; SecretSwap and Shade are contracts. |
| Cross-chain messaging the chain verifies itself | ✓ | IBC enabled, with channels to Osmosis, Cosmos Hub, Axelar, Noble and others in the Cosmos chain registry. |
| Non-fungible tokens | ✓ | SNIP-721 NFT contracts on Secret Contracts. |
| Decentralisation | 6.2 | section average, 7 of 8 measured |
| Censorship resistant (Source) | 10 | No authority can halt the chain or freeze funds: No party can freeze or claw back ordinary SCRT; governance controls an x/circuit breaker, used in Sep 2026 (proposal 370) only to pause new contract uploads and instantiations, and a governance-approved machine whitelist decides which SGX machines may run nodes. source |
| No central team (Source) | 0 | A central team directs it: SCRT Labs built and maintained secretd until it withdrew around 1 Sep 2026; the only maintained client is now the Secret³ Dev fork (Secret3dev/SecretNetwork), with stewardship by a new entity under the Secret Network Foundation. The code is open source (Apache-style licence in the repository). source |
| Who can mint (Source) | 8.6 | Proof of stake: 8.6 of 10 on the ladder of who produces blocks |
| Nodes (Source) | 4.7 | 25 active validators or block producers (source: Bonded) |
| Holder concentration (Source) | — | Not yet measured |
| Premine (allocated at launch) | 8.9 | 10.7% of today's supply allocated at launch to founders, a company, a foundation or investors. Genesis supply of ~150-160M SCRT from the swap of Enigma's 100%-premined ENG, including Enigma and team reserves of roughly 20% each and a 20M ecosystem pool: ≈10.7% of the ~1.443B total. source |
| Fundraising | 8.9 | Sold by its issuer or insiders: 10.7% of supply was theirs to sell, 5% sold so far. Enigma's 2017 ENG ICO raised ~$45M selling 75M ENG (SAFT presale plus a one-day crowd sale on 2017-09-11). The SEC settled over it in 2020. ENG converted 1:1 to SCRT in 2020-21. source |
| Developer share (after launch) | 2.3 | Developer share: about 77.3% of today's supply received so far; no share of new block rewards today. A one-off governance mint of 1.079B SCRT on 21 August 2026 (Proposal 365: foundation program, core development and other pools) is ≈74.8% of the ~1.443B total; earlier foundation and community taxes on inflation add ≈2.5%. Both are after launch, so they are developer share, not premine. source |
| Supply & Demand | 6.3 | group average |
| Supply & Demand (Source) | 4.5 | average of 6 measures |
| Exchanges (10 or more: 10) | 2 | 2 exchanges |
| Daily volume ($10K 0, $1B or more 10) | 1.2 | $6,839 traded in 24 hours; #2037 by volume on the exchanges the site reads (scored on the median day of the last 30, $40,978) |
| Turnover (volume ÷ market cap, 5% a day: 10) | 5.5 | 0.70% 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 | $11,584 within 2% of the price on 2 exchanges, 0.24% of its market cap, median of the last 2 days |
| Market cap ($1M 0, $10B or more 10) | 1.7 | $4.7M, 1.7 on a scale of 2.5 points per tenfold |
| Paper trading (futures, options and margin ÷ market cap, 0%: 10, 100%: 0) | 8.7 | futures, options and margin positions 1.8% of its market cap |
| Supply (smaller is better) | 8 | no fixed maximum; 689 million in circulation |
| Record | 8 | 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, 2022-09-12 | ✗ | Consensus split at block 5,181,126 between validators on v1.3.0 and v1.3.1 (an optional release with a breaking change) left neither side with two-thirds; validators coordinated on Telegram to upgrade and restart the chain after several hours. |
| Age (years since genesis) (Source) | 6 | 6 full years since 2020-09-30, the first day with a recorded price (genesis not yet researched, so the age can only be understated). |
| Development (work, improvements, unfixed issues) | 9 | 4 positive, 0 negative source |
| Positive | ||
| Steady work, 6 of 6 | ✓ | 293 commits in 12 of the last 12 months (github.com/Secret3dev/SecretNetwork); secretd v1.27.3 (github.com/Secret3dev/SecretNetwork, 2026-10-10), activated by proposal 381 at height 27,595,508; the community fork took over after SCRT Labs' last release v1.25.0 (scrtlabs/SecretNetwork, 2026-06-08). More than ten releases in 24 months. |
| Shipped a security fix in two years, +1 | ✓ | Secret v1.23.3, Jan 2026: emergency hotfix for a CometBFT vulnerability; v1.23.2, Dec 2025: wasmd and Cosmos SDK security patches. |
| Shipped a privacy improvement in two years, +1 | ✓ | Secret v1.21.6, Aug 2025: consensus seed rotation (new network encryption seed). |
| Shipped a new capability for users in two years, +1 | ✓ | Secret v1.21.6, Aug 2025: cron module (scheduled contract execution) and governance contract migration; cron enabled on mainnet in v1.24.1, Mar 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.
688,891,041 SCRT are in circulation, against no fixed cap — issuance has no defined end.
| Premine (allocated at launch) | 10.7% of today's supply |
|---|---|
| Sold by the issuer or insiders | 5% of today's supply |
| Developer share received since launch | 77.3% of today's supply |
| Developer share of new coins today | 0% |
| Nodes or validators | 25 |
| Fundraising | Public sale |
Genesis supply of ~150-160M SCRT from the swap of Enigma's 100%-premined ENG, including Enigma and team reserves of roughly 20% each and a 20M ecosystem pool: ≈10.7% of the ~1.443B total.
Enigma's 2017 ENG ICO raised ~$45M selling 75M ENG (SAFT presale plus a one-day crowd sale on 2017-09-11). The SEC settled over it in 2020. ENG converted 1:1 to SCRT in 2020-21.
A one-off governance mint of 1.079B SCRT on 21 August 2026 (Proposal 365: foundation program, core development and other pools) is ≈74.8% of the ~1.443B total; earlier foundation and community taxes on inflation add ≈2.5%. Both are after launch, so they are developer share, not premine.
The August 2026 mint is a discretionary insider mint and dominates the result. soldPct is about 75M ENG-sale tokens / 1.443B; it is a ceiling for the SCRT-equivalent, since not all ENG was swapped. The exact genesis split is approximate.
Sources: secretnetwork-api.lavenderfive.com · forum.scrt.network · secret.valopers.com · ghost.scrt.network · cryptoslate.com · sec.gov. Researched 2026-10-26, 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.
Secret is #176 among cryptocurrencies and #1262 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 1086 places between Secret'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).