Arweave (AR)
Arweave ranks #48 of 484 cryptocurrencies. On a list that also counts tokens, memecoins, wrapped coins, staked derivatives and stablecoins it appears at #155: 107 of the 154 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 152 non-native assets CoinSpectrum lists above it by market cap, about 56% are claims on other assets, 37% are tokens, 7% are memecoins and 1% are NFT collections.
| CoinSpectrum Grade | B · 61/100 · provisional, B to A |
|---|---|
| Rank among cryptocurrencies | #48 |
| Rank counting claims | #155 |
| Market capitalisation | $209M |
| Price | $3.18 |
| Circulating supply | 65,652,466 AR |
| Maximum supply | 66,000,000 AR |
| Consensus family | Proof of Space / Storage |
| Consensus mechanism | SPoRA (proof of access) |
| Network purpose | Decentralized storage |
| Ledger type | Single-asset ledger |
Market figures from the 10 November 2026 build. Open the live view for every exchange's price, and charts.
CoinSpectrum Grade (Source)
B — 61 out of 100, provisional (from 10 of 10 sections, 10 November 2026 build). With what is not yet measured anywhere from nothing to full marks, the score would be 55 to 64 (B to A).
| Section and criteria | Score | Basis |
|---|---|---|
| Consensus | 5.5 | average of 2 criteria |
| By leader (its largest chain's market cap) (Source) | 5.5 | Proof of space: 5.5 of 10 on the ladder of consensus families ranked by their largest chain's market cap |
| By family (all its chains' market cap) (Source) | 5.5 | Proof of space: 5.5 of 10 on the ladder of families ranked by the combined market cap of their chains |
| Supply | 9.6 | the supply scale times 0.9, and a point for a fixed cap that holds |
| Supply (21 million scores 10) | 9.5 | fixed maximum supply of 66 million |
| Distribution | 6.7 | average of 3 parts |
| Holder concentration (Source) | – | Not yet measured |
| Active addresses | – | Not yet measured |
| Premine (allocated at launch) | 1.6 | 83.8% of today's supply allocated at launch to founders, a company, a foundation or investors. 55M AR were minted in the genesis block (June 2018), with the other 11M reserved for mining rewards, against a current supply of about 65.65M AR (CoinGecko, as supplied). source |
| Fundraising (share sold) (Source) | 8.4 | Sold by its issuer or insiders: 15.9% of supply sold. Floor: presale Aug 2017 (10.8%) plus public sales May and June 2018 (7.1% and 1.1%) = 19% of the 55M genesis = ~10.45M AR; 10.45M / 65,652,466 AR (CoinGecko, 2026-10-24) = 15.9%. The Nov 2019 ($5M) and Mar 2020 ($8.3M, a16z/USV/Coinbase Ventures) rounds were paid in AR but the token counts are undisclosed, so the true figure is higher. Token presale in Aug 2017 (10.8% of initial supply), public sales in May and June 2018 (7.1% and 1.1%), and venture rounds: a16z, Union Square Ventures and Multicoin (Nov 2019), then $8.3M from a16z, USV and Coinbase Ventures (Mar 2020). source |
| Developer share (after launch) | 10 | No developer share: every new coin goes to the miners or validators who produce blocks. Mining rewards (the 11M AR inflation reserve plus the storage endowment) go to the miners who produce blocks; there is no developer or foundation share. The 55M AR genesis allocation is premine. source |
| Decentralisation | 6.7 | average of 3 parts |
| Governance (Source) | 10 | No authority can halt the chain or freeze funds: No party can freeze AR; no halts on record. source |
| No central team (Source) | 0 | A central team directs it: The Arweave core team (Forward Research / Digital History Association) maintains the only node, ArweaveTeam/arweave (GPL-2.0). source |
| Who can mint (Source) | 10 | Open to anyone with disk space: anyone can produce blocks by proof of space, no permission needed |
| Nodes (Source) | – | Not yet counted |
| Security | 7.2 | 5.7 of 8 points source |
| Pool diversity (Largest pool 50% 0 to 20% 10, largest three 90% 0 to 50% 10; 2 points) | 10 | largest 4.6%, largest three 10.4% |
| Network activity (Transactions a day, 250 0, 500,000 or more 10; 2 points) | 4.7 | about 8,760 transactions a day |
| Hashrate (Own work 5, its power 1 kW 0 to 10 GW 5; 1 point) | 1 | not mined: another consensus, 1 |
| Clients (Separate code and teams 10, separate code or teams 9, a fork by the same team or a stale second 8; one client: a new version within 12 months 7, 24 months 6, none in 24 months 5, none in 48 months 3; a second in development +0.5, a second seen running +1, 8 at most with one client; chain ended 0; 1 point) | 7 | one client, latest version Oct 2026 |
| Open source (Node software) | ✓ | |
| No 51% attack (Nor a deep reorganisation, five years) | ✓ | |
| Scalability | 5.6 | average of 5 parts source |
| Fees ($0.001 or less 10, $1 or more 0) | 10 | typical fee $0.00016 |
| Throughput (2,478 a second, the busiest network's peak day, 10; 121, the median of the ten busiest, 5) | 0.5 | about 7.8 simple transactions a second |
| Block time (10 minutes 10, less either side) | 7.6 | a block every 2.1 minutes |
| Block space per 10 minutes (24 MB or more 10: the ten busiest networks' median demand, 16.4 MB, and half again for growth) | 10 | 10.5 MB limit, 49.2 MB per 10 minutes |
| Features (3 checks) | 0 | 0 of 2 passed, 1 not yet researched |
| Fast payments (Safe to accept within seconds · Whitepaper abstract, §1, §2 and §11) | ✗ | About two-minute blocks with probabilistic confirmation. |
| Pruned nodes (Old history dropped, every rule checked · Whitepaper §7) | – | Nodes choose which weave partitions to store, but a documented validate-and-discard mode was not found. |
| Light clients (Payments verified from headers · Whitepaper §8) | ✗ | No light-client protocol; users trust gateways. |
| Privacy | 3.5 | 3.5 of 10: whitepaper privacy 3.5 of 7, extra features 0 of 3, 1 not yet researched source |
| Protocol level privacy (Keys not tied to an identity · Whitepaper §10) | 10 | Anyone can create keys and receive and send coins; the protocol carries no identity check. |
| UTXO ledger (Separate outputs, change to a new address · Whitepaper §2, §9) | 0 | An account ledger: one running balance for each address, so the remainder stays at the sending address and its payments share one public history. |
| HD addresses (A new address for each payment, unlinked · Whitepaper §10) | – | |
| Hidden amounts (Amounts confidential) | 0 | No confidential transactions. |
| Hidden parties (Sender and receiver hidden) | 0 | No sender or receiver hiding. |
| Network privacy (Origin hidden by default) | 0 | Arweave nodes accept and gossip transactions directly. |
| Programmability | 1.1 | 1 of 9 points source |
| Token issuance (Through a metaprotocol) | 1 | SmartWeave PSTs, AO tokens: read by indexers, not validated by the chain's nodes |
| Smart contracts | 0 | Transactions carry only owner, target, quantity, data and tags; SmartWeave and AO are computed off the base layer by readers and compute units, not by miners. |
| Multisig and time locks (Without a third party) | ✗ | Single-key RSA or ECDSA signatures only; no multisig or time-lock fields. |
| Atomic swaps (With other chains) | ✗ | No hash-lock or time-lock conditions to express a swap. |
| Native DEX (Trades the coin itself, not a claim) | ✗ | No DEX found trading the coin itself: none on its own chain (DefiLlama), and not on THORChain, Maya, Chainflip, Komodo DeFi, BasicSwap, Bisq or Haveno (checked 2026-11-04). |
| Cross-chain messaging (Verified by the chain itself) | ✗ | No protocol messaging to other chains. |
| NFTs (Carried by the chain's rules) | ✗ | Atomic assets are SmartWeave/AO state read by off-chain evaluators, not consensus. |
| Demand | 6.6 | average of 7 measures |
| Exchanges (10 or more: 10) | 10 | 30 exchanges |
| Daily volume ($10K 0, $1B or more 10) | 5.5 | $4,551,244 traded in 24 hours; #197 by volume on the exchanges the site reads (scored on the median day of the last 30, $5,657,475) |
| Turnover (volume ÷ market cap, 5% a day: 10) | 8.3 | 2.4% of its market cap a day, median of the last 30 days |
| Order-book depth (±2% of the price ÷ market cap, 1%: 10) | 8.5 | $743,991 within 2% of the price on 8 exchanges, 0.36% of its market cap, median of the last 15 days |
| Market cap ($1M 0, $10B or more 10) | 5.8 | $209M, 5.8 on a scale of 2.5 points per tenfold |
| Paper trading (futures, options and margin ÷ market cap, 0%: 10, 100%: 0) | 7.2 | futures, options and margin positions 8.1% of its market cap |
| Wallet support (wallets that hold it, 10 or more: 10) | 1 | its own node and wallet, counted as 1: no wallet in the site's directory lists it yet |
| Record | 8 | average of 3 criteria |
| Age (years since genesis) (Source) | 6 | 6 full years since 2020-05-27, the first day with a recorded price (genesis not yet researched, so the age can only be understated). |
| Development (work, fixes, vulnerabilities) | 8 | 3 positive, 0 negative source |
| Positive | ||
| Steady work, 6 of 6 | ✓ | 1,378 commits in 12 of the last 12 months (github.com/ArweaveTeam/arweave); ArweaveTeam/arweave N.2.9.7, 2026-10-21; 14 stable releases in 24 months. |
| Shipped a security fix in two years, +1 | ✓ | N.2.9.5.1, 2 Apr 2026: fixed input-validation issues that could crash nodes. |
| Shipped a new capability for users in two years, +1 | ✓ | 2.9 hard fork, 3 Feb 2025 (block 1,602,350): ECDSA signing keys supported. |
| Conduct (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 | ✓ | |
Ten sections, weighted equally, each 0 to 10: consensus (the two ladders), supply (the supply scale and a fixed cap that holds), distribution (premine, fundraising, developer share, holders), decentralisation (governance, no central team, who can mint, nodes), security, scalability, privacy, programmability (what the scripting layer can do beyond the whitepaper's payment system), demand, and record (age, development, conduct). They are built from the criteria in the second table: privacy, scalability, security and decentralisation are the Cryptocurrency Standards among them, as follows: privacy (the whitepaper's three checks a base of 7 of 10, three extra features up to 3 more), scalability (four measures and three features), security (pool diversity, network activity, hashrate, clients and two checks) and decentralisation (governance, no central team, who can mint, nodes, holders, premine, fundraising and developer share); programmability (token issuance, smart contracts and five checks) follows them, and supply and demand are two: the supply, scored against 21 million, and demand, the average of seven measures of the market and the wallets. Provisional: parts 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.
Proof of Space / Storage coins
Filecoin 
Chia 
Fruits 
Spacemesh Proof of Work coins
Bitcoin BTCA+
Zcash ZECA+
Dogecoin DOGEA+
Monero XMRA+
Bitcoin Cash BCHA++
Litecoin LTCA+
Ethereum Classic ETCAAll Proof of Work chains →Supply
65,652,466 of a maximum 66,000,000 AR are in circulation — 99.5% of the total that will ever exist.
Launch and allocation
| Premine (allocated at launch) | 83.8% of today's supply |
|---|---|
| Sold by the issuer or insiders | 15.9% 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 |
55M AR were minted in the genesis block (June 2018), with the other 11M reserved for mining rewards, against a current supply of about 65.65M AR (CoinGecko, as supplied).
Token presale in Aug 2017 (10.8% of initial supply), public sales in May and June 2018 (7.1% and 1.1%), and venture rounds: a16z, Union Square Ventures and Multicoin (Nov 2019), then $8.3M from a16z, USV and Coinbase Ventures (Mar 2020).
Floor: presale Aug 2017 (10.8%) plus public sales May and June 2018 (7.1% and 1.1%) = 19% of the 55M genesis = ~10.45M AR; 10.45M / 65,652,466 AR (CoinGecko, 2026-10-24) = 15.9%. The Nov 2019 ($5M) and Mar 2020 ($8.3M, a16z/USV/Coinbase Ventures) rounds were paid in AR but the token counts are undisclosed, so the true figure is higher.
Mining rewards (the 11M AR inflation reserve plus the storage endowment) go to the miners who produce blocks; there is no developer or foundation share. The 55M AR genesis allocation is premine.
Sources: coinmarketcap.com · crypto.com · coingecko.com · arweave.org · github.com · arweave.medium.com. Researched 2026-10-24, low confidence.
What a regulator has said
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.
How CoinSpectrum ranks Arweave
Arweave is #48 among cryptocurrencies and #155 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 107 places between Arweave'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).