Theta Network (THETA)
Theta Network ranks #56 of 484 cryptocurrencies. On a list that also counts tokens, memecoins, wrapped coins, staked derivatives and stablecoins it appears at #208: 152 of the 207 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 209 non-native assets CoinSpectrum lists above it by market cap, about 51% are claims on other assets, 42% are tokens, 6% are memecoins and under 1% are NFT collections.
| CoinSpectrum Grade | A · 67/100 · provisional, B to A |
|---|---|
| Rank among cryptocurrencies | #56 |
| Rank counting claims | #208 |
| Market capitalisation | $139M |
| Price | $0.1393 |
| Circulating supply | 1,000,000,000 THETA |
| Maximum supply | 1,000,000,000 THETA |
| Consensus family | Proof of Stake |
| Consensus mechanism | Multi-Level BFT (PoS) |
| Network purpose | DePIN |
| Ledger type | Multi-asset ledger |
| Launch distribution | Presale |
Market figures from the 10 November 2026 build. Open the live view for every exchange's price, and charts.
CoinSpectrum Grade (Source)
A — 67 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 61 to 71 (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 | 8.5 | the supply scale times 0.9, and a point for a fixed cap that holds |
| Supply (21 million scores 10) | 8.3 | fixed maximum supply of 1 billion |
| Distribution | 5.7 | 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. THETA has a fixed 1B supply, all allocated by Theta Labs at issuance (private sale 300M, partners 125M, network seeding 125M, team 74.9M, advisors 12.3M, plus Theta Labs holdings), and the current total supply is still 1B (CoinGecko, 2026-10-23). source |
| Fundraising (share sold) (Source) | 7 | Sold by its issuer or insiders: 30% of supply sold. Private token sale (Q4 2017 to Jan 2018) of 300M THETA at ~$0.067, raising ~$20M; no public sale. 300M / 1B fixed total supply (CoinGecko, 2026-10-23) = 30.0%. Private token sale (Q4 2017 to January 2018) of 300M THETA (30%) at $0.067, raising $20M; no public sale. Theta Labs also raised equity before and after (investors listed by ICO Drops include DHVC, Sierra Ventures, Samsung NEXT, Sony Innovation Fund and DCM). source |
| Developer share (after launch) | 10 | No developer share: every new coin goes to the miners or validators who produce blocks. No cut and no new issuance: THETA has a fixed 1B supply; staking rewards are paid in TFUEL, a separate token. source |
| Decentralisation | 4 | average of 3 parts |
| Governance (Source) | 10 | No authority can halt the chain or freeze funds: No protocol freeze power located; no halts on record. source |
| No central team (Source) | 0 | A central team directs it: Theta Labs maintains the only node, thetatoken/theta-protocol-ledger (GPL-3.0), and the roadmap. 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) | – | Not yet counted |
| 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) | 6.9 | largest 26.7%, largest three 65.9% |
| Network activity (Transactions a day, 250 0, 500,000 or more 10; 2 points) | 5.3 | about 13,659 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 May 2026 |
| Open source (Node software) | ✓ | |
| No 51% attack (Nor a deep reorganisation, five years) | ✓ | |
| Scalability | 6.3 | average of 5 parts source |
| Fees ($0.001 or less 10, $1 or more 0) | 10 | typical fee $0.0007 |
| Throughput (2,478 a second, the busiest network's peak day, 10; 121, the median of the ten busiest, 5) | 5.2 | about 134 simple transactions a second |
| Block time (10 minutes 10, less either side) | 3.1 | a block every 7.08 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 | 12.6 MB limit, 1070 MB per 10 minutes |
| Features (3 checks) | 3.3 | 1 of 3 passed |
| Fast payments (Safe to accept within seconds · Whitepaper abstract, §1, §2 and §11) | ✗ | Blocks arrive about every 7 s and the guardian layer finalises after that, so finality is above 5 s. |
| Pruned nodes (Old history dropped, every rule checked · Whitepaper §7) | ✓ | Theta ledger uses reference-counting history pruning (storage.statePruningEnabled). |
| Light clients (Payments verified from headers · Whitepaper §8) | ✗ | No light-client protocol for users; wallets trust RPC servers. |
| 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 | Theta nodes relay transactions directly. |
| Programmability | 8.8 | 7 of 8 points, 1 not yet researched source |
| Token issuance (At protocol level) | 2 | TNT-20 (ERC-20 compatible) contracts on the Theta EVM, open to any account since Mainnet 3.0 in 2021. |
| Smart contracts (General-purpose) | 2 | The Theta Virtual Machine, EVM-compatible (Constantinople plus Istanbul features), with Ethereum RPC support since v3.1.0 in July 2021. |
| Multisig and time locks (Without a third party) | ✓ | Multisig and timelock contracts on the EVM-compatible Theta VM. |
| Atomic swaps (With other chains) | ✓ | EVM HTLC contracts (hash lock plus timelock refund). |
| 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) | – | Metachain subchain code has a built-in interchain messaging channel to the main chain for TFuel and TNT tokens, but the docs do not say who verifies the transfers. |
| NFTs (Carried by the chain's rules) | ✓ | TNT-721 (ERC-721 compatible) contracts on the Theta VM. |
| Demand | 6.3 | average of 7 measures |
| Exchanges (10 or more: 10) | 10 | 32 exchanges |
| Daily volume ($10K 0, $1B or more 10) | 4.6 | $2,012,674 traded in 24 hours; #399 by volume on the exchanges the site reads (scored on the median day of the last 30, $2,064,634) |
| 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) | 8.2 | $389,039 within 2% of the price on 5 exchanges, 0.28% of its market cap, median of the last 15 days |
| Market cap ($1M 0, $10B or more 10) | 5.4 | $139M, 5.4 on a scale of 2.5 points per tenfold |
| Paper trading (futures, options and margin ÷ market cap, 0%: 10, 100%: 0) | 8.1 | futures, options and margin positions 3.7% 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) | 8 | 8 full years since 2018-01-16, 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 source |
| Positive | ||
| Steady work, 6 of 6 | ✓ | 12 commits in 7 of the last 12 months (github.com/thetatoken/theta-protocol-ledger); thetatoken/theta-protocol-ledger v4.1.3, 2026-05-07; 4 releases in 24 months (v4.1.0 to v4.1.3). |
| 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 Stake coins
Ethereum 
BNB 
Solana 
IOTA 
Sonic 
Vaulta 
NEO 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
1,000,000,000 of a maximum 1,000,000,000 THETA are in circulation — effectively all of them.
Launch and allocation
| Premine (allocated at launch) | 100% of today's supply |
|---|---|
| Sold by the issuer or insiders | 30% 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 |
THETA has a fixed 1B supply, all allocated by Theta Labs at issuance (private sale 300M, partners 125M, network seeding 125M, team 74.9M, advisors 12.3M, plus Theta Labs holdings), and the current total supply is still 1B (CoinGecko, 2026-10-23).
Private token sale (Q4 2017 to January 2018) of 300M THETA (30%) at $0.067, raising $20M; no public sale. Theta Labs also raised equity before and after (investors listed by ICO Drops include DHVC, Sierra Ventures, Samsung NEXT, Sony Innovation Fund and DCM).
Private token sale (Q4 2017 to Jan 2018) of 300M THETA at ~$0.067, raising ~$20M; no public sale. 300M / 1B fixed total supply (CoinGecko, 2026-10-23) = 30.0%.
No cut and no new issuance: THETA has a fixed 1B supply; staking rewards are paid in TFUEL, a separate token.
Sources: icodrops.com · coingecko.com · docs.thetatoken.org · etherscan.io. Researched 2026-10-24, high 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 Theta Network
Theta Network is #56 among cryptocurrencies and #208 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 152 places between Theta Network'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).