Hedera (HBAR)
Hedera ranks #20 of 484 cryptocurrencies. On a list that also counts tokens, memecoins, wrapped coins, staked derivatives and stablecoins it appears at #32: 12 of the 31 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 20 non-native assets CoinSpectrum lists above it by market cap, about 80% are claims on other assets and 20% are tokens.
| CoinSpectrum Grade | A · 66/100 · provisional |
|---|---|
| Rank among cryptocurrencies | #20 |
| Rank counting claims | #32 |
| Market capitalisation | $2.9B |
| Price | $0.0658 |
| Circulating supply | 44,327,144,956 HBAR |
| Maximum supply | 50,000,000,000 HBAR |
| Consensus family | Proof of Stake |
| Consensus mechanism | Hashgraph (gossip, aBFT) |
| Network purpose | Settlement ledger |
| Ledger type | Multi-asset ledger |
| Launch distribution | Presale |
| Regulatory class | Commodity |
Market figures from the 10 November 2026 build. Open the live view for every exchange's price, and charts.
CoinSpectrum Grade (Source)
A — 66 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 63 to 69 (A to A).
| Section and criteria | Score | Basis |
|---|---|---|
| Consensus | 9.1 | average of 2 criteria |
| By leader (its largest chain's market cap) (Source) | 9.1 | Proof of stake: 9.1 of 10 on the ladder of consensus families ranked by their largest chain's market cap |
| By family (all its chains' market cap) (Source) | 9.1 | Proof of stake: 9.1 of 10 on the ladder of families ranked by the combined market cap of their chains |
| Supply | 6.6 | the supply scale times 0.9, and a point for a fixed cap that holds |
| Supply (21 million scores 10) | 6.2 | fixed maximum supply of 50 billion |
| Distribution | 5.9 | average of 3 parts |
| Holder concentration (Source) | – | Not yet measured |
| Active addresses | – | Not yet measured |
| Premine (allocated at launch) | 0 | 100% of today's supply allocated at launch to founders, a company, a foundation or investors. The entire fixed 50B HBAR supply was created at mainnet launch (Aug-Sep 2018) and is held/released by Hedera Hashgraph LLC/Hedera Council; no further issuance (current total 50B). source |
| Fundraising (share sold) (Source) | 7.7 | Sold by its issuer or insiders: 22.8% of supply sold. Hedera's treasury report (6 Oct 2026) books all HBAR sold under regulated sales contracts as 'Purchase Agreements'. Released through Q3 2026: SAFT fundraising ~8.695B, SAFT exchange-offer bonus ~0.707B, later TPA sales ~2.018B = ~11.419B HBAR, / 50B fixed supply = 22.8%. The planned allocation for the category is 12.698B (25.4%), so the figure can rise slightly as remaining contracted HBAR is released. About $124M raised in 2018 via SAFT rounds (first SAFT series $4.7M from 40 purchasers; reported ~$100M private SAFT round) plus an Aug 2018 crowdsale at $0.12 restricted to accredited investors; sources disagree on the private/public split. source |
| Developer share (after launch) | 10 | No developer share: every new coin goes to the miners or validators who produce blocks. No issuance: the fixed 50B HBAR supply was created at launch, and staking rewards are paid out of the pre-minted treasury, so there is no new issuance to cut. source |
| Decentralisation | 1.8 | average of 4 parts |
| Governance (Source) | 0 | An authority can halt the chain or freeze funds: Council-controlled system keys can submit network freeze transactions, and on 2023-03-09 Hedera switched off all mainnet proxies to stop user transactions during an exploit. source |
| No central team (Source) | 0 | A central team directs it: The consensus node moved to the Hiero project (LF Decentralized Trust, Apache 2.0) in 2024, but Hashgraph employs nearly all its developers and the Hedera Council approves every network upgrade. source |
| Who can mint (Source) | 2 | Gated by registration: producers admitted by name, licence or company registration: an allow list, federation, council or proof of authority |
| Nodes (Source) | 5 | 31 reachable nodes source |
| Security | 8.5 | 6.8 of 8 points source |
| Pool diversity (Largest pool 50% 0 to 20% 10, largest three 90% 0 to 50% 10; 2 points) | 10 | largest 3.8%, largest three 11.3% |
| Network activity (Transactions a day, 250 0, 500,000 or more 10; 2 points) | 10 | about 930,000 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 | 7.6 | average of 5 parts source |
| Fees ($0.001 or less 10, $1 or more 0) | 10 | typical fee $0.0001 |
| Throughput (2,478 a second, the busiest network's peak day, 10; 121, the median of the ten busiest, 5) | 10 | about 10,000 simple transactions a second |
| Block time (10 minutes 10, less either side) | 1.1 | a block every 2 seconds |
| 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 | 129 MB limit (converted from its gas, compute, mass or count limit), 38700 MB per 10 minutes |
| Features (3 checks) | 6.7 | 2 of 3 passed |
| Fast payments (Safe to accept within seconds · Whitepaper abstract, §1, §2 and §11) | ✓ | Hashgraph aBFT consensus gives deterministic finality in about 3-5 seconds. |
| Pruned nodes (Old history dropped, every rule checked · Whitepaper §7) | ✓ | Consensus nodes keep current state only and stream records to mirror nodes, which hold history. |
| Light clients (Payments verified from headers · Whitepaper §8) | ✗ | No light-client protocol on mainnet; clients trust mirror nodes for history and receipts. |
| 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 an account (or auto-create one by sending to a key alias) for the network fee; the ledger 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 | Transactions go to a chosen consensus node directly; no origin hiding. |
| Programmability | 8.9 | 8 of 9 points source |
| Token issuance (At protocol level) | 2 | Hedera Token Service, native to the network and open to any account for a fee, plus ERC-20 contracts on its EVM-compatible Smart Contract Service. |
| Smart contracts (General-purpose) | 2 | Hedera Smart Contract Service runs EVM contracts deployable by any account. |
| Multisig and time locks (Without a third party) | ✓ | Native threshold keys and key lists (m-of-n) on accounts, and scheduled transactions with wait_for_expiry (HIP-423) that execute at a set time. |
| Atomic swaps (With other chains) | ✓ | EVM HTLC contracts (hash lock plus timelock refund) on the Smart Contract Service. |
| Native DEX (Trades the coin itself, not a claim) | ✓ | Traded as itself, not as a wrapped token or a claim: its own chain's DEXes (Hedera, DefiLlama). |
| Cross-chain messaging (Verified by the chain itself) | ✗ | No protocol messaging to other chains; bridges are third-party. |
| NFTs (Carried by the chain's rules) | ✓ | Native non-fungible tokens in the Hedera Token Service, created without contracts. |
| Demand | 7.1 | average of 7 measures |
| Exchanges (10 or more: 10) | 10 | 36 exchanges |
| Daily volume ($10K 0, $1B or more 10) | 7.2 | $29,455,339 traded in 24 hours; #51 by volume on the exchanges the site reads (scored on the median day of the last 30, $42,050,899) |
| Turnover (volume ÷ market cap, 5% a day: 10) | 6.8 | 1.2% of its market cap a day, median of the last 30 days |
| Order-book depth (±2% of the price ÷ market cap, 1%: 10) | 8 | $7,151,385 within 2% of the price on 9 exchanges, 0.25% of its market cap, median of the last 15 days |
| Market cap ($1M 0, $10B or more 10) | 8.7 | $2.9B, 8.7 on a scale of 2.5 points per tenfold |
| Paper trading (futures, options and margin ÷ market cap, 0%: 10, 100%: 0) | 8 | futures, options and margin positions 4.2% 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 | 7.3 | average of 3 criteria |
| Age (years since genesis) (Source) | 7 | 7 full years since 2019-09-17, the first day with a recorded price (genesis not yet researched, so the age can only be understated). |
| Development (work, fixes, vulnerabilities) | 6 | 1 positive, 0 negative, 3 not yet researched source |
| Positive | ||
| Steady work, 6 of 6 | ✓ | 7,139 commits in 12 of the last 12 months (github.com/hiero-ledger/hiero-consensus-node); hiero-consensus-node builds and release candidates through 2026-10-24 (continuous mainnet upgrades). |
| Not yet researched | ||
| Shipped a security fix in two years | – | |
| Shipped a scaling upgrade in two years | – | |
| Shipped a new capability for users in two years | – | |
| Conduct (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, 2023-03-09 | ✗ | After a Smart Contract Service exploit drained HTS tokens from DEX liquidity pools, Hedera turned off all mainnet network proxies (20:14 UTC), blocking user transactions until a Council-approved patch; resolved 2023-03-11 02:08 UTC. status.hedera.com |
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 Stake coins
Ethereum ETHA+
BNB BNBA
Solana SOLA+
Sui SUIA
Gram (prev. Toncoin) GRAMA
Cronos CROA
Polkadot DOTAAll Proof of Stake chains →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
44,327,144,956 of a maximum 50,000,000,000 HBAR are in circulation — 88.7% of the total that will ever exist.
Launch and allocation
| Premine (allocated at launch) | 100% of today's supply |
|---|---|
| Sold by the issuer or insiders | 22.8% of today's supply |
| Developer share received since launch | 0% of today's supply |
| Developer share of new coins today | 0% |
| Nodes or validators | 31 |
| Fundraising | Private or venture funding |
The entire fixed 50B HBAR supply was created at mainnet launch (Aug-Sep 2018) and is held/released by Hedera Hashgraph LLC/Hedera Council; no further issuance (current total 50B).
About $124M raised in 2018 via SAFT rounds (first SAFT series $4.7M from 40 purchasers; reported ~$100M private SAFT round) plus an Aug 2018 crowdsale at $0.12 restricted to accredited investors; sources disagree on the private/public split.
Hedera's treasury report (6 Oct 2026) books all HBAR sold under regulated sales contracts as 'Purchase Agreements'. Released through Q3 2026: SAFT fundraising ~8.695B, SAFT exchange-offer bonus ~0.707B, later TPA sales ~2.018B = ~11.419B HBAR, / 50B fixed supply = 22.8%. The planned allocation for the category is 12.698B (25.4%), so the figure can rise slightly as remaining contracted HBAR is released.
No issuance: the fixed 50B HBAR supply was created at launch, and staking rewards are paid out of the pre-minted treasury, so there is no new issuance to cut.
Sources: hederacouncil.org · hedera.com · docs.hedera.com · hedera.com · hedera.com · theblock.co. Researched 2026-10-24, high confidence.
What a regulator has said
Named a digital commodity in the joint SEC-CFTC interpretation (Mar 17, 2026).
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 Hedera
Hedera is #20 among cryptocurrencies and #32 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 12 places between Hedera'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 Hedera →