Terra ranks #104 of 504 cryptocurrencies. On a list that also counts tokens, memecoins, wrapped coins, staked derivatives and stablecoins it appears at #671: 567 of the 670 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 672 non-native assets CoinSpectrum lists above it by market cap, about 61% are tokens, 30% are claims on other assets and 9% are memecoins.
| CoinSpectrum Grade | B · 68/100 · provisional |
|---|---|
| Rank among cryptocurrencies | #104 |
| Rank counting claims | #671 |
| Market capitalisation | $30M |
| Price | $0.0425 |
| Circulating supply | 709,984,439 LUNA |
| Maximum supply | no fixed cap |
| Consensus family | Proof of Stake |
| Consensus mechanism | Tendermint (CometBFT) |
| Network purpose | Smart-contract platform |
| Ledger type | Single-asset ledger |
| Launch distribution | Premine |
Market figures from the 28 October 2026 build. Open the live view for every exchange's price, and charts.
B — 68 out of 100, provisional (from 18 of 20 criteria, 28 October 2026 build). With what is not yet measured anywhere from nothing to full marks, the score would be 61 to 72 (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, 11 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; 710 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 | ✗ | an authority can freeze funds: Validators halted the chain after the 2024 IBC exploit, and the v2.12 upgrade burned funds from the exploiter account and a multisig. |
| Divisibility: the smallest unit worth a cent or less | ✓ | 6 decimal places, the smallest unit worth $4.2e-8 |
| Portability: fees of a cent or less and capacity for real demand | ✓ | typical fee $0.00013; about 219 transactions a second (6 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 key can hold and send LUNA; the Cosmos SDK bank and auth modules carry 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) | ✗ | CometBFT mempool gossip with no Dandelion or built-in Tor. |
| Hidden amounts (confidential transactions, RingCT, shielded pools, Mimblewimble) | ✗ | Transfers are public. |
| Hidden sender and receiver (ring signatures or zero-knowledge proofs, one-time or stealth addresses) | ✗ | Accounts are public. |
| Scalability (fees, throughput, block time, block space, features) | 7.1 | average of 5 parts source |
| Fees ($0.001 or less 10, $1 or more 0) | 10 | typical fee $0.00013 |
| Throughput (2,478 a second, the busiest network's peak day, 10; 119, the median of the ten busiest, 5) | 6 | about 219 simple transactions a second |
| Block time (10 minutes 10, less either side) | 2.7 | a block every 5.75 seconds |
| Block space per 10 minutes (32 MB or more 10) | 10 | 1 MB limit, 104 MB per 10 minutes |
| Features (3 checks) | 6.7 | 2 of 3 passed |
| Payments safe to accept within seconds | ✗ | CometBFT single-block finality, but blocks average about 5.8 s. |
| Pruned nodes: a full node can validate and drop old history | ✓ | Cosmos SDK state pruning and CometBFT state sync let nodes run without full history. |
| Light clients verify payments from headers or proofs, without a trusted server | ✓ | CometBFT light client protocol verifies signed headers against the validator set, as used by IBC. |
| 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% | ✓ | 6.98% |
| Largest three under 75% | ✓ | 18.86% |
| More than one maintained client | ✗ | 0 |
| Node software is open source | ✓ | The terra-money/core repository was developed by Terraform Labs engineers; who maintains it after Terraform Labs' wind-down is not stated. |
| Real on-chain use: 1,000+ transactions a day | ✓ | about 7,321 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 | CosmWasm contracts (CW-20) deployable by any account, plus the Token Factory module. |
| Smart contracts: a general-purpose contract system | 2 | CosmWasm (wasm module) contracts on Terra 2.0 since the May 2022 relaunch, alongside Token Factory and Alliance modules. |
| Multisig and time locks | ✓ | Cosmos SDK threshold multisig accounts, plus CosmWasm contracts for time-locked spending. |
| Atomic swaps with other chains | ✓ | Hash- and time-locked contracts can be written in CosmWasm. |
| An exchange built into the protocol | ✗ | Terra 2.0 has no market or swap module; DEXes such as Astroport are contracts. |
| Cross-chain messaging the chain verifies itself | ✓ | IBC transfer and interchain-accounts modules in the app. |
| Non-fungible tokens | ✓ | CW-721 contracts run by its CosmWasm module. |
| Decentralisation | 6.3 | section average, 6 of 8 measured |
| Censorship resistant (Source) | 0 | An authority can halt the chain or freeze funds: Validators halted the chain after the 2024 IBC exploit, and the v2.12 upgrade burned funds from the exploiter account and a multisig. source |
| 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) | 6.7 | 99 reachable nodes source |
| Holder concentration (Source) | — | Not yet measured |
| Premine (allocated at launch) | 2.2 | 77.6% of today's supply allocated at launch to founders, a company, a foundation or investors. 1B LUNA at Terra 2.0 genesis (May 2022) allocated by the Terraform-proposed plan (30% community pool, 35% pre-attack LUNA holders, 10% pre-attack aUST, 10% post-attack LUNA, 15% post-attack UST), against current total supply 1,288,490,614 LUNA (Terra bank module, 2026-10-23). source |
| Fundraising | 10 | No sale of the coin source |
| Developer share (after launch) | 10 | No developer share: every new coin goes to the miners or validators who produce blocks. No cut. Terra 2.0 mints 7% a year (mint params fixed at 0.07) to stakers, and the distribution community_tax is 0; the 30% community-pool allocation was made at genesis (premine), not from issuance. source |
| Supply & Demand | 7.8 | group average |
| Supply & Demand (Source) | 7.6 | average of 6 measures |
| Exchanges (10 or more: 10) | 10 | 11 exchanges |
| Daily volume ($10K 0, $1B or more 10) | 4.4 | $856,110 traded in 24 hours; #518 by volume on the exchanges the site reads (scored on the median day of the last 30, $1,633,524) |
| Turnover (volume ÷ market cap, 5% a day: 10) | 9.9 | 4.9% of its market cap a day, median of the last 30 days |
| Order-book depth (bids and asks within 2% ÷ market cap, 1%: 10) | 9.6 | $231,944 within 2% of the price on 7 exchanges, 0.77% of its market cap, median of the last 2 days |
| Market cap ($1M 0, $10B or more 10) | 3.7 | $30M, 3.7 on a scale of 2.5 points per tenfold |
| Paper trading (futures, options and margin ÷ market cap, 0%: 10, 100%: 0) | 7.8 | futures, options and margin positions 4.6% of its market cap |
| Supply (smaller is better) | 8 | no fixed maximum; 710 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, 2024-07-31 | ✗ | Chain halted at block 11,430,400 for about 3.5 hours so validators could apply an emergency patch after an ~$5M ibc-hooks reentrancy exploit. |
| Age (years since genesis) (Source) | 6 | 6 full years since 2020-08-19, the first day with a recorded price (genesis not yet researched, so the age can only be understated). |
| Development (work, improvements, unfixed issues) | 7 | 2 positive, 0 negative, 1 not yet researched source |
| Positive | ||
| Steady work, 6 of 6 | ✓ | 18 commits in 7 of the last 12 months (github.com/phoenix-directive/core); phoenix-directive/core v2.22.0, released 2026-10-13 (this repo succeeded terra-money/core, whose last tag was v2.12.4 in Sep 2024). |
| Shipped a security fix in two years, +1 | ✓ | terrad v2.20 (upgrade height 22,055,000, ~Jul 2026) and v2.22 run CometBFT v0.38.21, which carries the Oct 2025 security fix GHSA-hrhf-2vcr-ghch. |
| Not yet researched | ||
| Shipped a new capability for users 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.
709,984,439 LUNA are in circulation, against no fixed cap — issuance has no defined end.
| Premine (allocated at launch) | 77.6% of today's supply |
|---|---|
| Developer share received since launch | 0% of today's supply |
| Developer share of new coins today | 0% |
| Nodes or validators | 99 |
| Fundraising | No sale and no investor round |
1B LUNA at Terra 2.0 genesis (May 2022) allocated by the Terraform-proposed plan (30% community pool, 35% pre-attack LUNA holders, 10% pre-attack aUST, 10% post-attack LUNA, 15% post-attack UST), against current total supply 1,288,490,614 LUNA (Terra bank module, 2026-10-23).
No sale of Terra 2.0 LUNA; the genesis was an airdrop to Terra Classic holders (whose LUNA history includes Terraform Labs private sales).
No cut. Terra 2.0 mints 7% a year (mint params fixed at 0.07) to stakers, and the distribution community_tax is 0; the 30% community-pool allocation was made at genesis (premine), not from issuance.
Sources: terra-rest.publicnode.com · terra-rest.publicnode.com · dappradar.com · gfinityesports.com · terra-rest.publicnode.com. Researched 2026-10-24, medium 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.
Terra is #104 among cryptocurrencies and #671 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 567 places between Terra'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 Terra →