Theta Fuel ranks #73 of 508 cryptocurrencies. On a list that also counts tokens, memecoins, wrapped coins, staked derivatives and stablecoins it appears at #378: 305 of the 377 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 387 non-native assets CoinSpectrum lists above it by market cap, about 53% are tokens, 40% are claims on other assets and 7% are memecoins.
| CoinSpectrum Grade | B · 69/100 · provisional |
|---|---|
| Rank among cryptocurrencies | #73 |
| Rank counting claims | #378 |
| Market capitalisation | $66M |
| Price | $0.00875 |
| Circulating supply | 7,511,962,344 TFUEL |
| Maximum supply | no fixed cap |
| Consensus family | Proof of Stake |
| Consensus mechanism | Multi-Level BFT (Theta chain) |
| Ledger type | Multi-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 — 69 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 61 to 73 (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 | 5.8 | group average, 4 of 6 measured |
| Properties (10 whitepaper checks) (Source) | 3 | 3 of 10 passed source |
| Anyone can mint (permissionless) | ✗ | Multi-Level BFT (Theta chain) |
| Limited supply | ✗ | no fixed maximum |
| No pre-issuance or developer mint | ✗ | |
| No developer tax | ✓ | |
| No authority that can halt the chain or freeze funds | ✓ | No protocol freeze power located; no halts on record. |
| No central team | ✗ | Theta Labs maintains the only node, thetatoken/theta-protocol-ledger (GPL-3.0). |
| Fees under one cent | ✓ | typical fee $0.0007 |
| Payments safe to accept within seconds | ✗ | Same chain as THETA: ~7 s blocks finalised by the guardian layer afterwards, so above 5 s. |
| UTXO ledger | ✗ | |
| Privacy built into the protocol | ✗ | |
| Scalability (fees, throughput, block time, block space) | 7.6 | average of 4 measures source |
| Fees ($0.001 or less 10, $1 or more 0) | 10 | typical fee $0.0007 |
| Throughput (1,000 transactions a second or more 10) | 7.1 | about 134 simple transactions a second |
| Block time (10 minutes 10, less either side) | 3.1 | a block every 7.08 seconds |
| Block space per 10 minutes (32 MB or more 10) | 10 | 12.6 MB limit, 1070 MB per 10 minutes |
| Security (9 checks) | 5 | 5 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% | ✓ | 26.7% |
| Largest three under 75% | ✓ | 65.9% |
| More than one maintained client | ✗ | 1 |
| Node software is open source | ✓ | Theta Labs maintains the only node, thetatoken/theta-protocol-ledger (GPL-3.0). |
| Real on-chain use: 1,000+ transactions a day | ✓ | about 13,659 a day |
| No 51% attack or deep reorganisation in five years | ✓ | |
| Decentralisation: who can mint (Source) | 7.6 | Proof of stake: 8.6 of 10 on the ladder of who produces blocks, less 1 point: block producers are admitted from a permissioned list (allow list, federation or council) |
| Decentralisation: nodes (Source) | — | Not yet counted |
| Decentralisation: holder concentration (Source) | — | Not yet measured |
| Capabilities (protocol features) | 3.3 | 2 of 6 passed source |
| Decentralisation | ||
| Network-level privacy: the node hides where a transaction came from (Dandelion++, Tor or I2P, on by default) | ✗ | Same Theta ledger; nodes relay transactions directly. |
| Light clients verify payments from headers or proofs, without a trusted server | ✗ | No light-client protocol for users. |
| Scalability | ||
| Pruned nodes: a full node can validate and drop old history | ✓ | Theta ledger reference-counting history pruning (storage.statePruningEnabled). |
| Native payment channels or instant payments | ✓ | Theta's resource-oriented micropayment pool (ReserveFundTx / ServicePaymentTx), paid in TFUEL. |
| Security | ||
| Hidden amounts (confidential transactions, RingCT, shielded pools, Mimblewimble) | ✗ | No confidential transactions. |
| Hidden sender and receiver (ring signatures or zero-knowledge proofs, one-time or stealth addresses) | ✗ | No sender or receiver hiding. |
| Issuance | 7.8 | group average |
| Premine (allocated at launch) | 3.3 | 66.9% of today's supply allocated at launch to founders, a company, a foundation or investors. 5B TFUEL were created at Theta mainnet genesis (Mar 2019) and airdropped 5:1 to THETA holders, against a current total supply of about 7.476B TFUEL (Finary, 2026). 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. New TFUEL (about 5% a year) is paid to staked validator and guardian nodes, plus Elite Edge Nodes, which stake TFUEL. No share goes to Theta Labs or a treasury. Gas fees and part of edge-network payments are burned. source |
| Supply & Demand | 5.4 | group average |
| Supply & Demand (Source) | 6.3 | average of 6 measures |
| Exchanges (10 or more: 10) | 10 | 12 exchanges |
| Volume rank among the top 200 | 0 | $284,317 traded in 24 hours; #878 by volume on the exchanges the site reads (ranked on the median day of the last 30, $526,076) |
| Turnover (volume ÷ market cap, 5% a day: 10) | 5.7 | 0.76% of its market cap a day, median of the last 30 days |
| Order-book depth (bids and asks within 2% ÷ market cap, 1%: 10) | 7.6 | $122,530 within 2% of the price on 4 exchanges, 0.19% of its market cap, median of the last 2 days |
| Market cap ($1M 0, $10B or more 10) | 4.5 | $66M, 4.5 on a scale of 2.5 points per tenfold |
| Futures exposure (open interest ÷ market cap, less is better) | 10 | no perpetual futures on the exchanges read |
| Supply (smaller is better) | 4.5 | no fixed maximum; 7.51 billion in circulation |
| 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) | 7 | 7 full years since 2019-03-19, the first day with a recorded price (genesis not yet researched, so the age can only be understated). |
| Development (work, improvements, unfixed issues) | 8 | 2 positive, 0 negative source |
| Positive | ||
| Steady work, 6 of 6 | ✓ | 14 commits in 8 of the last 12 months (github.com/thetatoken/theta-protocol-ledger); thetatoken/theta-protocol-ledger v4.1.3, 2026-05-07; 4 releases in 24 months. |
| Token issuance at protocol level, validated by its own nodes, +2 | ✓ | TNT-20 (ERC-20 compatible) contracts on the Theta EVM, where TFUEL pays gas, open to any account since Mainnet 3.0 in 2021. |
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.
7,511,962,344 TFUEL are in circulation, against no fixed cap — issuance has no defined end.
| Premine (allocated at launch) | 66.9% of today's supply |
|---|---|
| Sold by the issuer or insiders | 0% of today's supply |
| Developer share received since launch | 0% of today's supply |
| Developer share of new coins today | 0% |
| Fundraising | No sale and no investor round |
5B TFUEL were created at Theta mainnet genesis (Mar 2019) and airdropped 5:1 to THETA holders, against a current total supply of about 7.476B TFUEL (Finary, 2026).
TFUEL itself was never sold: it was distributed at genesis to THETA holders, 5 TFUEL per THETA. The 2017 private sale was of THETA.
TFUEL itself was never sold: the 5B genesis TFUEL (Mar 2019) was airdropped 5:1 to all THETA holders, and airdrops are excluded. The 2017 THETA private sale predates TFUEL's design. If the sale-derived share of that airdrop were counted (300M THETA x 5 = 1.5B / ~7.476B current supply), it would be 20.1%.
New TFUEL (about 5% a year) is paid to staked validator and guardian nodes, plus Elite Edge Nodes, which stake TFUEL. No share goes to Theta Labs or a treasury. Gas fees and part of edge-network payments are burned.
Sources: icodrops.com · finary.com · docs.thetatoken.org · blockchain.com · coin360.com · blockchaingamer.biz. 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.
Theta Fuel is #73 among cryptocurrencies and #378 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 305 places between Theta Fuel'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).