Trade Leopard

Week ending 23 August 2026.

An archived brief, kept as it was published. The current week is on the main page, and the thresholds behind every score are on methodology.

That week

The listed set this week adds XDC, Internet Computer and Hyperliquid. Hyperliquid is the largest protocol by thirty-day revenue on the table, at $41 million, but it still has no supply score: CoinGecko's circulating figure stepped down 18% and then held, which the collector treats as a revision rather than a burn. XDC has no DefiLlama fee adapter, so cash flow is blank; circulating supply rose 23% over twelve months and about 2% of that float is still scheduled to unlock in the next year.

Among the names already on the list, Uniswap, Aave and Sky still earn more than they issue. Bitcoin, Hedera and XRP continue to collect little or no protocol revenue against issuance that does not stop. Internet Computer's thirty-day revenue is $87,000, with cycle burn still well below the rate that would offset minting.

Fourteen collector problems this week. Most are circulating-supply series that step rather than trend, Hyperliquid among them. The emissions dataset still has no schedule for Hyperliquid's Core Contributors (TBD) allocation, so the unlock tests stay unknown.

Project
98CAKEPancakeSwap924/4eligible$5.1MExcellentself-fundingExcellent80%Excellent
43AAVEAave81-63/41 fail$4.1MGood1.70×Excellent96%Excellent
54SKYSky77-34/4eligible$13.3MExcellent1.09×Excellent100%Good
36UNIUniswap74-14/4eligible$7.1MExcellent0.79×Good62%Fair
8TRXTRON70-114/4eligible$25.7MGood4.64×ExcellentGood
61ICPInternet Computer56+124/4eligible$87KFair0.02×WeakGood
15LINKChainlink554/4eligible$4.5MFair0.07×Fair75%Fair
84RENDERRender54-94/4eligible$101KWeak1.22×Excellent81%Good
4BNBBNB53-54/4eligible$1.6MWeakself-fundingGood67%Good
86JUPJupiter53-84/4eligible$4.5MExcellent0.97×Good33%Poor
2ETHEthereum53-34/4eligible$2.3MWeakself-fundingGoodExcellent
30AVAXAvalanche48+134/4eligible$95KFair0.02×Weak60%Fair
7SOLSolana46+114/4eligible$1.7MWeak0.005×PoorFair
37NEARNEAR Protocol44+144/4eligible$30KWeak0.003×PoorGood
23GRAMGram (prev. Toncoin)44+164/4eligible$43KWeak0.002×PoorGood
90ARBArbitrum41+23/4!unknown$320KFair0.03×Weak67%Weak
1BTCBitcoin40+142/41 fail$0Poor0.000×Poor96%Excellent
93FILFilecoin39-24/4eligible$124KFair0.01×WeakWeak
68POLPOL (ex-MATIC)39-83/4unknown$1.9MGood0.13×FairPoor
77ALGOAlgorand39+164/4eligible$435Poor0.000×Poor90%Good
18XMRMonero36+132/41 fail$0Poor0.000×PoorGood
10DOGEDogecoin33+122/41 fail$0Poor0.000×PoorGood
17ADACardano32+103/4unknown$6KPoor0.000×Poor83%Good
27HBARHedera30+102/41 fail$0Poor0.000×Poor88%Good
28SUISui23+94/4eligible$27KWeak0.001×Poor41%Weak
5XRPXRP23+93/4unknown$9KPoor0.000×Poor63%Weak
53ENAEthena21+53/4!unknown$29KWeak0.001×Poor66%Weak
56DOTPolkadot20+72/41 fail$0Poor0.000×Poor81%Fair
19XLMStellar18+53/4unknown$32KPoor0.001×PoorWeak
78ATOMCosmos Hub6+22/41 fail$0Poor0.000×PoorPoor

Click a row for the numbers behind it, a column heading to sort by that column, or the i beside a heading for what it measures. Revenue is what the protocol collected over the last 30 days, before the cost of running it — open a row for the figure net of new issuance.

Not financial advice. These are ratings of measurable properties, not recommendations, and this page is a record of what those measures said on one date.