Internet Computer (ICP)
Internet Computer ranks #24 of 484 cryptocurrencies. On a list that also counts tokens, memecoins, wrapped coins, staked derivatives and stablecoins it appears at #64: 40 of the 63 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 49 non-native assets CoinSpectrum lists above it by market cap, about 57% are claims on other assets, 35% are tokens and 8% are memecoins.
| CoinSpectrum Grade | A · 64/100 · provisional, B to A |
|---|---|
| Rank among cryptocurrencies | #24 |
| Rank counting claims | #64 |
| Market capitalisation | $1.3B |
| Price | $2.38 |
| Circulating supply | 558,355,843 ICP |
| Maximum supply | no fixed cap |
| Consensus family | Other |
| Consensus mechanism | Threshold Relay / chain-key |
| Active addresses a day | 3,791 October 2026 median, Coin Metrics |
| Network purpose | Distributed compute |
| Ledger type | Multi-asset ledger |
| Launch distribution | Presale |
| Regulatory class | Contested |
Market figures from the 10 November 2026 build. Open the live view for every exchange's price, and charts.
CoinSpectrum Grade (Source)
A — 64 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 60 to 67 (B to A).
| Section and criteria | Score | Basis |
|---|---|---|
| Consensus | 6.4 | average of 2 criteria |
| By leader (its largest chain's market cap) (Source) | 6.4 | Other: 6.4 of 10 on the ladder of consensus families ranked by their largest chain's market cap |
| By family (all its chains' market cap) (Source) | 6.4 | Other: 6.4 of 10 on the ladder of families ranked by the combined market cap of their chains |
| Supply | 7.7 | the supply scale times 0.9, and a point for a fixed cap that holds |
| Supply (21 million scores 10) | 8.6 | no fixed maximum; 558 million in circulation |
| Distribution | 5.7 | average of 4 parts |
| Holder concentration (Source) | – | Not yet measured |
| Active addresses | 4.3 | 3,791 addresses active a day, the median of October 2026's 31 days (Coin Metrics community data) source |
| Premine (allocated at launch) | 1.6 | 84.1% of today's supply allocated at launch to founders, a company, a foundation or investors. 469,213,710 ICP minted at genesis (May 2021) to seed/strategic/presale funders, DFINITY Foundation, team, early contributors, advisors and airdrop, against a current total supply of 558,146,004 ICP (ICP ledger API, 2026-10-23). source |
| Fundraising (share sold) (Source) | 6.9 | Sold by its issuer or insiders: 30.8% of supply sold. Genesis neurons (May 2021) for paying funders: 2017 seed 24.72%, 2018 strategic 7.00% and presale 4.96% = 36.68% of 469,213,710 ICP = 172.1M ICP. 172.1M / 558,146,004 ICP (ICP ledger, 2026-10-23) = 30.8%. 2017 seed round (~$3.9M from ~370 participants, receiving ~24.7% of genesis supply), followed by 2018 strategic and presale rounds with venture investors (reported a16z, Polychain); exact 2018 amounts not re-verified here. source |
| Developer share (after launch) | 10 | No developer share: every new coin goes to the miners or validators who produce blocks. New ICP is minted only as voting rewards to staked neurons and as node-provider rewards to the operators of the machines that run the network; neither is a dev, foundation or treasury cut, and no treasury is funded from issuance. source |
| Decentralisation | 2.8 | average of 4 parts |
| Governance (Source) | 0 | An authority can halt the chain or freeze funds: The NNS DAO controls every system canister including the ICP ledger and can halt or recover subnets by proposal, which it has done (subnet halts and recoveries in 2024). source |
| No central team (Source) | 0 | A central team directs it: The DFINITY Foundation develops the replica in dfinity/ic, mostly Apache 2.0 with some files under the non-OSI IC Community Source License, and writes nearly all NNS proposals for upgrades. 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) | 9.3 | 618 reachable nodes source |
| Security | 6.8 | 4.1 of 6 points, 2 not yet measured source |
| Pool diversity (Largest pool 50% 0 to 20% 10, largest three 90% 0 to 50% 10; 2 points) | – | |
| Network activity (Transactions a day, 250 0, 500,000 or more 10; 2 points) | 6.5 | about 35,000 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 | 6.6 | average of 4 parts source |
| Fees ($0.001 or less 10, $1 or more 0) | 10 | typical fee $0.00026 |
| Throughput (2,478 a second, the busiest network's peak day, 10; 121, the median of the ten busiest, 5) | 6.2 | about 250 simple transactions a second |
| Block time (10 minutes 10, less either side) | 0 | a block every 1 second |
| Block space per 10 minutes (24 MB or more 10: the ten busiest networks' median demand, 16.4 MB, and half again for growth) | – | not yet measured |
| Features (3 checks) | 10 | 3 of 3 passed |
| Fast payments (Safe to accept within seconds · Whitepaper abstract, §1, §2 and §11) | ✓ | Subnet consensus finalises blocks in about 1-2 seconds, and ICP ledger transfers are final once the block is finalised. |
| Pruned nodes (Old history dropped, every rule checked · Whitepaper §7) | ✓ | Replicas sync from certified checkpoints and replay only recent blocks instead of keeping full block history. |
| Light clients (Payments verified from headers · Whitepaper §8) | ✓ | Chain-key certification: responses carry a subnet threshold-BLS certificate verifiable against the single IC root public key, with no header download. |
| 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 | Any principal or account identifier can hold and send ICP; the ledger canister 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 in the ICP ledger. |
| Hidden parties (Sender and receiver hidden) | 0 | No sender or receiver hiding. |
| Network privacy (Origin hidden by default) | 0 | Messages reach subnets via boundary nodes directly; no origin hiding. |
| Programmability | 10 | 9 of 9 points source |
| Token issuance (At protocol level) | 2 | ICRC-1/ICRC-2 ledger canisters (smart contracts) that any developer can deploy for cycles. |
| Smart contracts (General-purpose) | 2 | Wasm canisters deployable by any developer for cycles, running DEXs and other applications. |
| Multisig and time locks (Without a third party) | ✓ | Through canisters: multi-approval custody (DFINITY's Orbit station) and canister timers that run code after a delay. |
| Atomic swaps (With other chains) | ✓ | Canisters can hold assets against a hash preimage with a timer-based refund, and can sign Bitcoin transactions via threshold signatures. |
| Native DEX (Trades the coin itself, not a claim) | ✓ | Traded as itself, not as a wrapped token or a claim: ICPSwap and KongSwap on its own chain. |
| Cross-chain messaging (Verified by the chain itself) | ✓ | Native Bitcoin integration: ICP nodes run a Bitcoin adapter, a Bitcoin canister on a system subnet keeps the UTXO set, and subnet threshold signatures authorise BTC transactions, without bridges. |
| NFTs (Carried by the chain's rules) | ✓ | ICRC-7, the base NFT standard for ICP canisters. |
| Demand | 6.9 | average of 7 measures |
| Exchanges (10 or more: 10) | 10 | 42 exchanges |
| Daily volume ($10K 0, $1B or more 10) | 6.5 | $11,740,591 traded in 24 hours; #87 by volume on the exchanges the site reads (scored on the median day of the last 30, $17,221,450) |
| Turnover (volume ÷ market cap, 5% a day: 10) | 6.6 | 1.1% of its market cap a day, median of the last 30 days |
| Order-book depth (±2% of the price ÷ market cap, 1%: 10) | 8.3 | $4,175,720 within 2% of the price on 9 exchanges, 0.31% of its market cap, median of the last 15 days |
| Market cap ($1M 0, $10B or more 10) | 7.8 | $1.3B, 7.8 on a scale of 2.5 points per tenfold |
| Paper trading (futures, options and margin ÷ market cap, 0%: 10, 100%: 0) | 7.9 | futures, options and margin positions 4.5% 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) | 5 | 5 full years since 2021-05-12, 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, 2 not yet researched source |
| Positive | ||
| Steady work, 6 of 6 | ✓ | 7,398 commits in 12 of the last 12 months (github.com/dfinity/ic); Weekly IC replica releases; latest release-2026-10-22_03-29-base. |
| Shipped a privacy improvement in two years, +1 | ✓ | vetKeys production key, Jun 2025: threshold key derivation for on-chain encryption. |
| Shipped a new capability for users in two years, +1 | ✓ | vetKeys production key (key_1), Jun 2025: canisters can derive encryption keys. |
| Not yet researched | ||
| Shipped a security fix in two years | – | |
| Shipped a scaling upgrade 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, 2024-12-26 | ✗ | Application subnet lhg73 stalled on 26 December 2024 and again on 27 December (after earlier lhg73 stalls in June and September 2024) and was recovered each time through NNS subnet-recovery proposals; other subnets kept running. ic-api.internetcomputer.org ic-api.internetcomputer.org forum.dfinity.org |
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.
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558,355,843 ICP are in circulation, against no fixed cap — issuance has no defined end.
Launch and allocation
| Premine (allocated at launch) | 84.1% of today's supply |
|---|---|
| Sold by the issuer or insiders | 30.8% of today's supply |
| Developer share received since launch | 0% of today's supply |
| Developer share of new coins today | 0% |
| Nodes or validators | 618 |
| Fundraising | Private or venture funding |
469,213,710 ICP minted at genesis (May 2021) to seed/strategic/presale funders, DFINITY Foundation, team, early contributors, advisors and airdrop, against a current total supply of 558,146,004 ICP (ICP ledger API, 2026-10-23).
2017 seed round (~$3.9M from ~370 participants, receiving ~24.7% of genesis supply), followed by 2018 strategic and presale rounds with venture investors (reported a16z, Polychain); exact 2018 amounts not re-verified here.
Genesis neurons (May 2021) for paying funders: 2017 seed 24.72%, 2018 strategic 7.00% and presale 4.96% = 36.68% of 469,213,710 ICP = 172.1M ICP. 172.1M / 558,146,004 ICP (ICP ledger, 2026-10-23) = 30.8%.
New ICP is minted only as voting rewards to staked neurons and as node-provider rewards to the operators of the machines that run the network; neither is a dev, foundation or treasury cut, and no treasury is funded from issuance.
Sources: kylelangham.substack.com · info.arkm.com · dashboard.internetcomputer.org · learn.internetcomputer.org · internetcomputer.org · ledger-api.internetcomputer.org. Researched 2026-10-24, medium confidence.
What a regulator has said
Alleged an unregistered security by the SEC (2023 complaint); not named a commodity in 2026 and not adjudicated — status unsettled.
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 Internet Computer
Internet Computer is #24 among cryptocurrencies and #64 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 40 places between Internet Computer'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 Internet Computer →