Pearl (PEARL)
Pearl ranks #36 of 484 cryptocurrencies. On a list that also counts tokens, memecoins, wrapped coins, staked derivatives and stablecoins it appears at #99: 63 of the 98 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 84 non-native assets CoinSpectrum lists above it by market cap, about 55% are claims on other assets, 39% are tokens, 5% are memecoins and 1% are NFT collections.
| CoinSpectrum Grade | A · 71/100 · provisional, B to A+ |
|---|---|
| Rank among cryptocurrencies | #36 |
| Rank counting claims | #99 |
| Market capitalisation | $536M |
| Price | $1.43 |
| Circulating supply | 374,789,730 PEARL |
| Maximum supply | 2,100,000,000 PEARL |
| Consensus family | Proof of Work |
| Consensus mechanism | Proof-of-Useful-Work (AI GPU matrix-mult) |
| Own hashrate | 86 EH/s |
| Ledger type | Single-asset ledger |
| Launch distribution | No premine |
Market figures from the 10 November 2026 build. Open the live view for every exchange's price, and charts.
CoinSpectrum Grade (Source)
A — 71 out of 100, provisional (from 9 of 10 sections, 10 November 2026 build). With what is not yet measured anywhere from nothing to full marks, the score would be 54 to 76 (B to A+).
| Section and criteria | Score | Basis |
|---|---|---|
| Consensus | 10 | average of 2 criteria |
| By leader (its largest chain's market cap) (Source) | 10 | Proof of work: 10 of 10 on the ladder of consensus families ranked by their largest chain's market cap |
| By family (all its chains' market cap) (Source) | 10 | Proof of work: 10 of 10 on the ladder of families ranked by the combined market cap of their chains |
| Supply | 8.2 | the supply scale times 0.9, and a point for a fixed cap that holds |
| Supply (21 million scores 10) | 8 | fixed maximum supply of 2.1 billion |
| Distribution | 10 | average of 3 parts |
| Holder concentration (Source) | – | Not yet measured |
| Active addresses | – | Not yet measured |
| Premine (allocated at launch) | 10 | 0% of today's supply allocated at launch to founders, a company, a foundation or investors. No genesis allocation reported: the project describes the 27 Apr 2026 launch as having no pre-mine or investor allocation, and every PRL (about 332M mined by 2 Oct 2026, cap 2.1B) enters circulation through block rewards. source |
| Fundraising (share sold) (Source) | 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. No protocol cut found: the project and independent write-ups describe mining as the only source of PRL, with nothing allocated to founders or investors in the reward code. The 20% fee on the official Pearl pool is a pool operator's charge, not a protocol share, and team mining at the low launch difficulty is undisclosed. source |
| Decentralisation | 6.7 | average of 3 parts |
| Governance (Source) | 10 | No authority can halt the chain or freeze funds: Bitcoin-style UTXO chain with no freeze or admin key. source |
| No central team (Source) | 0 | A central team directs it: Pearl Research Labs maintains pearld (a btcd-derived full node, ISC licence) in its monorepo. source |
| Who can mint (Source) | 10 | Open to anyone with hardware: anyone can produce blocks by mining, no permission needed |
| Nodes (Source) | – | Not yet counted |
| Security | 6.3 | 5 of 8 points source |
| Pool diversity (Largest pool 50% 0 to 20% 10, largest three 90% 0 to 50% 10; 2 points) | 2.9 | largest 44.7%, largest three 74.1% |
| Network activity (Transactions a day, 250 0, 500,000 or more 10; 2 points) | 4.3 | about 6,493 transactions a day |
| Hashrate (Own work 5, its power 1 kW 0 to 10 GW 5; 1 point) | 8.7 | own work 5; about 136 MW, 3.7 of 5; the largest on its algorithm |
| 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 | — | too few measures yet source |
| Fees ($0.001 or less 10, $1 or more 0) | – | not yet measured |
| Throughput (2,478 a second, the busiest network's peak day, 10; 121, the median of the ten busiest, 5) | – | not yet measured |
| Block time (10 minutes 10, less either side) | 8 | a block every 2.7 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) | – | not yet measured |
| Features (3 checks) | 6.7 | 2 of 3 passed |
| Fast payments (Safe to accept within seconds · Whitepaper abstract, §1, §2 and §11) | ✗ | Bitcoin-style proof-of-work blocks about every 2.5-3 minutes; no zero-confirmation protection. |
| Pruned nodes (Old history dropped, every rule checked · Whitepaper §7) | ✓ | pearld inherits btcd --prune, which deletes validated blocks above a size target. |
| Light clients (Payments verified from headers · Whitepaper §8) | ✓ | Pearl monorepo ships an SPV light client using compact block filters (neutrino), mainnet since 27 Apr 2026. |
| Privacy | 7 | 7 of 10: whitepaper privacy 7 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 generate keys and receive and send coins; the consensus rules carry no identity check. |
| UTXO ledger (Separate outputs, change to a new address · Whitepaper §2, §9) | 10 | Coins are separate unspent outputs: a payment spends whole outputs and sends the change to a new address, so the coins in one wallet need not share a history. |
| HD addresses (A new address for each payment, unlinked · Whitepaper §10) | – | |
| Hidden amounts (Amounts confidential) | 0 | Bitcoin-style transparent transactions. |
| Hidden parties (Sender and receiver hidden) | 0 | No sender or receiver hiding. |
| Network privacy (Origin hidden by default) | 0 | pearld (btcd fork) relays transactions directly; Tor onion support is optional configuration. |
| Programmability | 3.3 | 3 of 9 points source |
| Token issuance | 0 | No token issuance on the chain itself |
| Smart contracts (Scripting for spending conditions) | 1 | btcd-derived Script (with Taproot, and OP_CAT enabled) limited to spending conditions; no contract applications on the base layer. |
| Multisig and time locks (Without a third party) | ✓ | OP_CHECKMULTISIG / OP_CHECKSIGADD plus OP_CHECKLOCKTIMEVERIFY and OP_CHECKSEQUENCEVERIFY in pearld's txscript. |
| Atomic swaps (With other chains) | ✓ | Hash opcodes with CLTV/CSV express HTLCs, as in BIP 199. |
| 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) | ✗ | No token type in the protocol. |
| Demand | 4.7 | average of 7 measures |
| Exchanges (10 or more: 10) | 7 | 7 exchanges |
| Daily volume ($10K 0, $1B or more 10) | 4.1 | $3,209,209 traded in 24 hours; #623 by volume on the exchanges the site reads (scored on the median day of the last 15, $1,067,863) |
| Turnover (volume ÷ market cap, 5% a day: 10) | 2.2 | 0.17% of its market cap a day, median of the last 16 days |
| Order-book depth (±2% of the price ÷ market cap, 1%: 10) | 1.6 | $16,251 within 2% of the price on 1 exchange, 0.00% of its market cap, median of the last 15 days |
| Market cap ($1M 0, $10B or more 10) | 6.8 | $536M, 6.8 on a scale of 2.5 points per tenfold |
| Paper trading (futures, options and margin ÷ market cap, 0%: 10, 100%: 0) | 10 | no futures, options or margin on the exchanges read |
| 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) | — | Genesis date not yet researched |
| Development (work, fixes, vulnerabilities) | 6 | 1 positive, 0 negative, 4 not yet researched source |
| Positive | ||
| Steady work, 6 of 6 | ✓ | 392 commits in 8 of the last 12 months (github.com/pearl-research-labs/pearl); pearl v1.5.3, 21 Oct 2026 (mainnet since 27 Apr 2026; frequent releases). |
| Not yet researched | ||
| Shipped a security fix in two years | – | |
| Shipped a privacy improvement in two years | – | |
| Shipped a scaling upgrade in two years | – | |
| Shipped a new capability for users in two years | – | |
| 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 Work coins
Bitcoin BTCA+
Zcash ZECA+
Dogecoin DOGEA+
Kaspa KASA+
Dash DASHA+
Bitcoin SV BSVA+
eCash XECA+All Proof of Work chains →Proof of Stake coins
Ethereum ETHA+
BNB BNBA
Solana SOLA+
TRON TRXA
Hyperliquid HYPEB
Cardano ADAA
NEAR Protocol NEARAAll Proof of Stake chains →Supply
374,789,730 of a maximum 2,100,000,000 PEARL are in circulation — 17.8% of the total that will ever exist.
Launch and allocation
| Premine (allocated at launch) | 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 |
No genesis allocation reported: the project describes the 27 Apr 2026 launch as having no pre-mine or investor allocation, and every PRL (about 332M mined by 2 Oct 2026, cap 2.1B) enters circulation through block rewards.
No token sale and no announced venture round for Pearl Research Labs; company funding and team PRL holdings are undisclosed.
No protocol cut found: the project and independent write-ups describe mining as the only source of PRL, with nothing allocated to founders or investors in the reward code. The 20% fee on the official Pearl pool is a pool operator's charge, not a protocol share, and team mining at the low launch difficulty is undisclosed.
Sources: datawallet.com · hashrateindex.com · parameter.io · github.com · pearlresearch.ai. Researched 2026-10-24, medium confidence.
The work behind it
Pearl is secured by 86 EH/s of its own work. Hashrate does not compare across algorithms — a SHA-256 hash and a Scrypt hash cost different amounts to produce.
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 Pearl
Pearl is #36 among cryptocurrencies and #99 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 63 places between Pearl'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).