Theta Network ranks #55 of 508 cryptocurrencies. On a list that also counts tokens, memecoins, wrapped coins, staked derivatives and stablecoins it appears at #191: 136 of the 190 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 190 non-native assets CoinSpectrum lists above it by market cap, about 51% are claims on other assets, 43% are tokens and 6% are memecoins.
| CoinSpectrum Grade | C · 63/100 · provisional |
|---|---|
| Rank among cryptocurrencies | #55 |
| Rank counting claims | #191 |
| Market capitalisation | $180M |
| Price | $0.1798 |
| Circulating supply | 1,000,000,000 THETA |
| Maximum supply | 1,000,000,000 THETA |
| Consensus family | Proof of Stake |
| Consensus mechanism | Multi-Level BFT (PoS) |
| Network purpose | DePIN |
| 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 — 63 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 55 to 67 (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 | 6.1 | group average, 4 of 6 measured |
| Properties (10 whitepaper checks) (Source) | 4 | 4 of 10 passed source |
| Anyone can mint (permissionless) | ✗ | Multi-Level BFT (PoS) |
| Limited supply | ✓ | fixed maximum of 1,000,000,000 |
| 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), and the roadmap. |
| Fees under one cent | ✓ | typical fee $0.0007 |
| Payments safe to accept within seconds | ✗ | Blocks arrive about every 7 s and the guardian layer finalises after that, so finality is 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), and the roadmap. |
| 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) | ✗ | Theta nodes relay transactions directly. |
| Light clients verify payments from headers or proofs, without a trusted server | ✗ | No light-client protocol for users; wallets trust RPC servers. |
| Scalability | ||
| Pruned nodes: a full node can validate and drop old history | ✓ | Theta ledger uses reference-counting history pruning (storage.statePruningEnabled). |
| Native payment channels or instant payments | ✓ | Resource-oriented micropayment pool built into the ledger (ReserveFundTx / ServicePaymentTx) for off-chain payments, mainnet 2019. |
| 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 | 3.3 | group average |
| Premine (allocated at launch) | 0 | 100% of today's supply allocated at launch to founders, a company, a foundation or investors. THETA has a fixed 1B supply, all allocated by Theta Labs at issuance (private sale 300M, partners 125M, network seeding 125M, team 74.9M, advisors 12.3M, plus Theta Labs holdings), and the current total supply is still 1B (CoinGecko, 2026-10-23). source |
| Fundraising | 0 | Sold by its issuer or insiders: 100% of supply was theirs to sell, 30% sold so far. Private token sale (Q4 2017 to Jan 2018) of 300M THETA at ~$0.067, raising ~$20M; no public sale. 300M / 1B fixed total supply (CoinGecko, 2026-10-23) = 30.0%. Private token sale (Q4 2017 to January 2018) of 300M THETA (30%) at $0.067, raising $20M; no public sale. Theta Labs also raised equity before and after (investors listed by ICO Drops include DHVC, Sierra Ventures, Samsung NEXT, Sony Innovation Fund and DCM). source |
| Developer share (after launch) | 10 | No developer share: every new coin goes to the miners or validators who produce blocks. No cut and no new issuance: THETA has a fixed 1B supply; staking rewards are paid in TFUEL, a separate token. source |
| Supply & Demand | 6.3 | group average |
| Supply & Demand (Source) | 6.1 | average of 6 measures |
| Exchanges (10 or more: 10) | 10 | 31 exchanges |
| Volume rank among the top 200 | 0 | $1,656,319 traded in 24 hours; #337 by volume on the exchanges the site reads (ranked on the median day of the last 30, $3,051,029) |
| Turnover (volume ÷ market cap, 5% a day: 10) | 6.9 | 1.3% of its market cap a day, median of the last 30 days |
| Order-book depth (bids and asks within 2% ÷ market cap, 1%: 10) | 7.9 | $407,968 within 2% of the price on 5 exchanges, 0.23% of its market cap, median of the last 2 days |
| Market cap ($1M 0, $10B or more 10) | 5.6 | $180M, 5.6 on a scale of 2.5 points per tenfold |
| Futures exposure (open interest ÷ market cap, less is better) | 6 | perpetual open interest 4.2% of its market cap |
| Supply (smaller is better) | 6.4 | fixed maximum supply of 1 billion |
| Record | 8.7 | 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) | 8 | 8 full years since 2018-01-16, 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 (v4.1.0 to v4.1.3). |
| Token issuance at protocol level, validated by its own nodes, +2 | ✓ | TNT-20 (ERC-20 compatible) contracts on the Theta EVM, 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.
1,000,000,000 of a maximum 1,000,000,000 THETA are in circulation — effectively all of them.
| Premine (allocated at launch) | 100% of today's supply |
|---|---|
| Sold by the issuer or insiders | 30% of today's supply |
| Developer share received since launch | 0% of today's supply |
| Developer share of new coins today | 0% |
| Fundraising | Private or venture funding |
THETA has a fixed 1B supply, all allocated by Theta Labs at issuance (private sale 300M, partners 125M, network seeding 125M, team 74.9M, advisors 12.3M, plus Theta Labs holdings), and the current total supply is still 1B (CoinGecko, 2026-10-23).
Private token sale (Q4 2017 to January 2018) of 300M THETA (30%) at $0.067, raising $20M; no public sale. Theta Labs also raised equity before and after (investors listed by ICO Drops include DHVC, Sierra Ventures, Samsung NEXT, Sony Innovation Fund and DCM).
Private token sale (Q4 2017 to Jan 2018) of 300M THETA at ~$0.067, raising ~$20M; no public sale. 300M / 1B fixed total supply (CoinGecko, 2026-10-23) = 30.0%.
No cut and no new issuance: THETA has a fixed 1B supply; staking rewards are paid in TFUEL, a separate token.
Sources: icodrops.com · coingecko.com · docs.thetatoken.org · etherscan.io. Researched 2026-10-24, 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.
Theta Network is #55 among cryptocurrencies and #191 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 136 places between Theta Network'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).