Secret (SCRT)
Secret ranks #198 of 484 cryptocurrencies. On a list that also counts tokens, memecoins, wrapped coins, staked derivatives and stablecoins it appears at #1511: 1313 of the 1510 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 1775 non-native assets CoinSpectrum lists above it by market cap, about 61% are tokens, 32% are claims on other assets, 6% are memecoins and 1% are NFT collections.
| CoinSpectrum Grade | A · 66/100 · provisional, B to A |
|---|---|
| Rank among cryptocurrencies | #198 |
| Rank counting claims | #1511 |
| Market capitalisation | $2M |
| Price | $0.00332 |
| Circulating supply | 692,054,385 SCRT |
| Maximum supply | no fixed cap |
| Consensus family | Proof of Stake |
| Consensus mechanism | Tendermint (CometBFT) |
| Network purpose | Private payments |
| 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)
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 62 to 69 (B 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 | 7.7 | the supply scale times 0.9, and a point for a fixed cap that holds |
| Supply (21 million scores 10) | 8.5 | no fixed maximum; 692 million in circulation |
| Distribution | 6.9 | average of 3 parts |
| Holder concentration (Source) | – | Not yet measured |
| Active addresses | – | Not yet measured |
| Premine (allocated at launch) | 8.9 | 10.7% of today's supply allocated at launch to founders, a company, a foundation or investors. Genesis supply of ~150-160M SCRT from the swap of Enigma's 100%-premined ENG, including Enigma and team reserves of roughly 20% each and a 20M ecosystem pool: ≈10.7% of the ~1.443B total. source |
| Fundraising (share sold) (Source) | 9.5 | Sold by its issuer or insiders: 5% of supply sold. Enigma's 2017 ENG ICO raised ~$45M selling 75M ENG (SAFT presale plus a one-day crowd sale on 2017-09-11). The SEC settled over it in 2020. ENG converted 1:1 to SCRT in 2020-21. source |
| Developer share (after launch) | 2.3 | Developer share: about 77.3% of today's supply received so far; no share of new block rewards today. A one-off governance mint of 1.079B SCRT on 21 August 2026 (Proposal 365: foundation program, core development and other pools) is ≈74.8% of the ~1.443B total; earlier foundation and community taxes on inflation add ≈2.5%. Both are after launch, so they are developer share, not premine. source |
| Decentralisation | 4.9 | average of 4 parts |
| Governance (Source) | 10 | No authority can halt the chain or freeze funds: No party can freeze or claw back ordinary SCRT; governance controls an x/circuit breaker, used in Sep 2026 (proposal 370) only to pause new contract uploads and instantiations, and a governance-approved machine whitelist decides which SGX machines may run nodes. source |
| No central team (Source) | 0 | A central team directs it: SCRT Labs built and maintained secretd until it withdrew around 1 Sep 2026; the only maintained client is now the Secret³ Dev fork (Secret3dev/SecretNetwork), with stewardship by a new entity under the Secret Network Foundation. The code is open source (Apache-style licence in the repository). source |
| Who can mint (Source) | 5 | Gated by stake rank: only a capped set of the largest stakes produces blocks |
| Nodes (Source) | 4.7 | 25 active validators or block producers (source: Bonded) |
| Security | 6.6 | 5.2 of 8 points source |
| Pool diversity (Largest pool 50% 0 to 20% 10, largest three 90% 0 to 50% 10; 2 points) | 10 | largest 13.93%, largest three 26.82% |
| Network activity (Transactions a day, 250 0, 500,000 or more 10; 2 points) | 2.2 | about 1,300 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 5 parts source |
| Fees ($0.001 or less 10, $1 or more 0) | 10 | typical fee $0.000082 |
| Throughput (2,478 a second, the busiest network's peak day, 10; 121, the median of the ten busiest, 5) | 3.8 | about 60 simple transactions a second |
| Block time (10 minutes 10, less either side) | 2.7 | a block every 5.59 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 | 1.05 MB limit, 113 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) | ✗ | CometBFT gives single-block deterministic finality, but blocks average about 5.6 s, so acceptance takes longer than five seconds. |
| Pruned nodes (Old history dropped, every rule checked · Whitepaper §7) | ✓ | Cosmos SDK pruning plus CometBFT min-retain-blocks and state sync let a node keep current state and recent blocks only. |
| Light clients (Payments verified from headers · Whitepaper §8) | ✓ | CometBFT light client verifies headers against validator-set signatures (weak-subjectivity trust period), with IAVL Merkle proofs for state. |
| 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 | Accounts are created from user-generated keys in the Cosmos SDK auth and bank modules, with no identity check on holding or sending. |
| 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 | Encrypted amounts apply to SNIP-20 tokens such as sSCRT in secret contracts; native SCRT bank transfers are public. |
| Hidden parties (Sender and receiver hidden) | 0 | The signing account of every transaction is public; no ring signatures or stealth addresses. |
| Network privacy (Origin hidden by default) | 0 | CometBFT gossips transactions directly from the submitting node; no Dandelion-style relay or built-in Tor. |
| Programmability | 8.9 | 8 of 9 points source |
| Token issuance (At protocol level) | 2 | SNIP-20 tokens on Secret Contracts (CosmWasm with encrypted state), open to any account. |
| Smart contracts (General-purpose) | 2 | Secret Contracts (CosmWasm with encrypted state in SGX enclaves), open to any account. |
| Multisig and time locks (Without a third party) | ✓ | Cosmos SDK multisig accounts, and contracts that can check block time or height. |
| Atomic swaps (With other chains) | ✓ | Hash-locked, time-locked contracts can be written as Secret Contracts. |
| 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) | ✓ | IBC enabled, with channels to Osmosis, Cosmos Hub, Axelar, Noble and others in the Cosmos chain registry. |
| NFTs (Carried by the chain's rules) | ✓ | SNIP-721 NFT contracts on Secret Contracts. |
| Demand | 3.9 | average of 7 measures |
| Exchanges (10 or more: 10) | 2 | 2 exchanges |
| Daily volume ($10K 0, $1B or more 10) | 0.8 | $78,975 traded in 24 hours; #2219 by volume on the exchanges the site reads (scored on the median day of the last 30, $26,596) |
| Turnover (volume ÷ market cap, 5% a day: 10) | 4.8 | 0.52% of its market cap a day, median of the last 30 days |
| Order-book depth (±2% of the price ÷ market cap, 1%: 10) | 9.6 | $17,245 within 2% of the price on 2 exchanges, 0.75% of its market cap, median of the last 15 days |
| Market cap ($1M 0, $10B or more 10) | 0.9 | $2.3M, 0.9 on a scale of 2.5 points per tenfold |
| Paper trading (futures, options and margin ÷ market cap, 0%: 10, 100%: 0) | 8.2 | futures, options and margin positions 3.1% 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 2020-09-30, the first day with a recorded price (genesis not yet researched, so the age can only be understated). |
| Development (work, fixes, vulnerabilities) | 9 | 4 positive, 0 negative source |
| Positive | ||
| Steady work, 6 of 6 | ✓ | 230 commits in 12 of the last 12 months (github.com/Secret3dev/SecretNetwork); secretd v1.27.3 (github.com/Secret3dev/SecretNetwork, 2026-10-10), activated by proposal 381 at height 27,595,508; the community fork took over after SCRT Labs' last release v1.25.0 (scrtlabs/SecretNetwork, 2026-06-08). More than ten releases in 24 months. |
| Shipped a security fix in two years, +1 | ✓ | Secret v1.23.3, Jan 2026: emergency hotfix for a CometBFT vulnerability; v1.23.2, Dec 2025: wasmd and Cosmos SDK security patches. |
| Shipped a privacy improvement in two years, +1 | ✓ | Secret v1.21.6, Aug 2025: consensus seed rotation (new network encryption seed). |
| Shipped a new capability for users in two years, +1 | ✓ | Secret v1.21.6, Aug 2025: cron module (scheduled contract execution) and governance contract migration; cron enabled on mainnet in v1.24.1, Mar 2026. |
| 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, 2022-09-12 | ✗ | Consensus split at block 5,181,126 between validators on v1.3.0 and v1.3.1 (an optional release with a breaking change) left neither side with two-thirds; validators coordinated on Telegram to upgrade and restart the chain after several hours. republiccrypto.substack.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+
BitShares BTSA
Stealth XSTA
Mintlayer ML
Pkoin PKOINAll 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
692,054,385 SCRT are in circulation, against no fixed cap — issuance has no defined end.
Launch and allocation
| Premine (allocated at launch) | 10.7% of today's supply |
|---|---|
| Sold by the issuer or insiders | 5% of today's supply |
| Developer share received since launch | 77.3% of today's supply |
| Developer share of new coins today | 0% |
| Nodes or validators | 25 |
| Fundraising | Public sale |
Genesis supply of ~150-160M SCRT from the swap of Enigma's 100%-premined ENG, including Enigma and team reserves of roughly 20% each and a 20M ecosystem pool: ≈10.7% of the ~1.443B total.
Enigma's 2017 ENG ICO raised ~$45M selling 75M ENG (SAFT presale plus a one-day crowd sale on 2017-09-11). The SEC settled over it in 2020. ENG converted 1:1 to SCRT in 2020-21.
A one-off governance mint of 1.079B SCRT on 21 August 2026 (Proposal 365: foundation program, core development and other pools) is ≈74.8% of the ~1.443B total; earlier foundation and community taxes on inflation add ≈2.5%. Both are after launch, so they are developer share, not premine.
The August 2026 mint is a discretionary insider mint and dominates the result. soldPct is about 75M ENG-sale tokens / 1.443B; it is a ceiling for the SCRT-equivalent, since not all ENG was swapped. The exact genesis split is approximate.
Sources: secretnetwork-api.lavenderfive.com · forum.scrt.network · secret.valopers.com · ghost.scrt.network · cryptoslate.com · sec.gov. Researched 2026-10-26, 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 Secret
Secret is #198 among cryptocurrencies and #1511 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 1313 places between Secret'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).