The encryption token market is severely fragmented, and high-quality projects are scarce.

Recently, the overall cryptocurrency market has declined, with many Token prices dropping 80%-90% from their historical highs. A data analysis company has conducted a comprehensive assessment of 2 million Tokens in the market based on 16 indicators, using AI algorithms to provide important references for measuring project credibility and market health.

The latest analysis data shows that the Token reputation scores exhibit a clear pyramid structure. The vast majority of Tokens are concentrated in the "average" and "poor" ranges, while high-scoring Tokens are extremely rare. This phenomenon not only reflects the high differentiation in the market but also reveals deep-seated differences in Token quality across different blockchain platforms.

Token Reputation Index Analysis

Overall data shows that Ethereum remains the primary Token issuance platform, accounting for 54.56% of the total statistics. Next is a certain Layer 2 network (21.88%) and a certain emerging public chain (16.32%). The other two well-known public chains account for 5.85% and 1.37%, respectively.

In terms of reputation scores, the vast majority of tokens are at "average" and "poor" levels. Taking Ethereum as an example, about 116,347 tokens are rated as average, and 573,739 are rated as poor. The number of tokens reaching excellent and good ratings on various blockchain platforms is extremely low. Ethereum has 7 tokens that achieved excellent scores and 310 that achieved good scores.

The total amount of tokens for a certain Layer 2 network and a certain emerging public chain ranks second and third respectively. Taking this Layer 2 network as an example, only 5 out of its 450,000 tokens are rated as "excellent", while the proportion of tokens in the "poor" and "very poor" ranges is as high as 96.7%. On this emerging public chain, the proportion of tokens in the "poor" range is 75.6% (254,482), and there are 67 tokens in the "average" range.

It is worth noting that a well-known public chain, although its total token supply is only 10.7% of Ethereum (120,587 tokens), its "average" range (4,865 tokens) accounts for 4.03%, which is significantly higher than Ethereum's 0.34% (116,347 tokens).

Common issues of low-rated Tokens

By comparing the characteristics of tokens in different rating ranges, it can be found that low-scoring tokens generally have the following issues:

1. Insufficient liquidity and low market participation: The liquidity pool size and number of participants for low-rated Tokens are generally low, leading to severe price fluctuations and weakening market confidence.

2. The concentration of coin holders is too high: The top ten holders of low-scoring tokens often account for a far greater proportion than those of high-scoring tokens, making it easy to trigger market manipulation risks.

3. Trading activity and profitability are insufficient: Low-scoring tokens are significantly lagging in trading volume and the ratio of profitable traders, making it difficult to attract long-term investors.

Comparison of Blockchain Platform Ecosystem Strategies

The correlation between the number of tokens and reputation scores reflects the differences in ecological strategies among various blockchain platforms. Ethereum, as one of the most mature blockchains, has both advantages and challenges. It boasts a complete set of development tools, a large user base, and a rich DeFi infrastructure, but high Gas fees and network congestion issues have also driven projects to migrate to other low-cost chains.

Emerging blockchain platforms are rapidly expanding their ecosystems. The total amount of tokens for a certain emerging public chain is nearing three times that of a well-known public chain, yet many projects are still in the early stages. Other public chains attract specific projects through technological differentiation, but the user base still needs to be improved.

conclusion

With the development of the encryption market, the number of tokens has shown exponential growth, but there is a clear differentiation in quality. In the future, as regulation tightens and investors become more specialized, the token reputation index may become an important tool for selecting quality assets. Only projects that achieve balanced development across multiple dimensions such as liquidity, holder distribution, and trading sustainability are likely to stand out in the next round of market reshuffling and become leading projects in the encryption field.