Is Infrastructure outperforming Bitcoin, and is leadership broad?
Bottom line
CargoX ranks first for research priority in Infrastructure crypto at 57/100, and its native activity proof is incomplete. The theme's 13-week excess versus Bitcoin is -8.5% on 0% breadth, which is what decides whether that lead is isolated or broad. 0 of the 6 assets here carry enough native evidence to move past a tape-led label.
These Infrastructure coins are part of the cryptocurrency universe this site tracks daily — 894 of the top 1,000 crypto currency assets by market cap, priced from exchange closes and matched to protocol fees and revenue where a protocol publishes them.
The theme itself · before any single company
How has Infrastructure moved against Bitcoin?
The line below covers up to 5 years and opens on the 5Y view; the buttons cut it shorter. Over the most recent two of them this theme is 77% behind Bitcoin. Quarterly protocol revenue is not reported often enough here to draw a lane underneath the price. It has been ahead of Bitcoin on a rolling three-month view for 10 weeks running.
BREAKING OUT · ahead 10w·Price down, no fundamental support5 of 7 coins ahead of Bitcoin by 5% or more over three months
RS ↑10w · 1/7 >200d (+0) · 5/7 lead (+0) · EPS —
Infrastructure, equal-weighted, based at 200Bitcoin, same base, same starttrailing 12-month protocol revenue risingfalling
Infrastructure, equal-weighted, based at 200Bitcoin, same base, same starttrailing 12-month protocol revenue risingfalling
Infrastructure, equal-weighted, based at 200Bitcoin, same base, same starttrailing 12-month protocol revenue risingfalling
Both lines start at 200 in the same week, so the distance between them is the whole story: the theme line is an equal-weighted index of its 7 coins. The bars underneath are trailing 12-month protocol revenue, one bar per reported quarter, each member rebased to 100 at the start and the theme taking the median — so a price line pulling away from flat bars is a re-rating, not earnings. A bar turns red when that figure is lower than the quarter before. Rules are fixed and applied identically everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while protocol revenue grew 20% or more. Hover any point to read both values and the gap. This is a description of what the numbers did, not advice.
RISK OFF market context
Infrastructure vs Bitcoin — Relative Strength & Breadth
Infrastructure crypto has underperformed Bitcoin by 54.8% over 52 weeks on an equal-weight index of current members. Over 13 weeks the figure is -8.5%. 0 of 4 covered assets are above their own 200-day average. CargoX leads Bitcoin-relative strength at +22.1%. Price readings are as of 2026-07-31.
-8.5%13w vs BTC
-55%52w vs BTC
0/4Above 200-DMA
CXORS leader · +22%
Assets
6
canonical functional membership
Activity-covered
0/6
enough native evidence
Top score
57.0/100
CargoX
Calendar quarters
20
complete; missing stays missing
Global asset selection · top 20 shown
00 · exact additive research priority
4-Factor Crypto Evidence Score
A within-theme research-priority score for the 6 assets in Infrastructure, out of 100. The four displayed point contributions add exactly to the total, and the market regime changes the action label, never the arithmetic. CargoX is highest at 57/100 on 50% evidence. It ranks research attention, not portfolio action.
CargoX leads the current research queue at 57/100 with 50% evidence.
0/6 assets have enough native activity evidence to move beyond a tape-led label.
3 of the 9 Infrastructure coins are not rated this week: 3 have no price within 7 days. They are listed in full below the ranking.
Missing native metrics are not scored as zero and are not silently reweighted. They pull only the affected factor toward neutral and lower its visible evidence percentage. An asset with nothing measurable at all is not scored at 50 either — it is listed as not rated.
1. CargoX · CXO
57.0/100 · Illiquid · research only · 50% evidence
Exact sum: 25.8 + 15.0 + 10.0 + 6.2 = 57.0
Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.
CargoX leads the Infrastructure tape on Bitcoin-relative strength at +22% over 90 days. 0 of 4 covered assets are above their own 200-day average. Price shows what happened; BTC-relative strength shows whether the asset beat crypto’s opportunity-cost benchmark. Both lines run through 2026-07-31.
Complete set · no silent drops
Which assets are in Infrastructure?
6 of the 9 coins assigned to Infrastructure are rated and ranked below, and the other 3 are listed under it with the reason each one is not rated — tape-only names that publish no protocol activity included. Each asset has exactly one canonical functional theme, chosen by a specific-to-general first match on its categories.
3 of the 9 Infrastructure coins are not rated this week: 3 have no price within 7 days. Each one stays on this page with its reason instead of being scored at the midpoint of a range nothing measured.
Coin
Market cap
Reason
Detail
TAC TAC
$169.6M
No price this week
No traded price in the 95 days to 2026-07-31.
Seeker SKR
$61.5M
No price this week
No traded price in the 95 days to 2026-07-31.
Dual DUAL
$36.7M
No price this week
No traded price in the 95 days to 2026-07-31.
Methodology · boundaries make the answer useful
What can make this comparison misleading?
This Infrastructure comparison names 5 ways its own evidence can mislead, all listed below. The largest is that crypto network activity is not company earnings: protocol revenue does not automatically accrue to token holders. Coverage is also uneven — 0 of 6 assets carry enough native evidence to rank on more than price.
Crypto network activity is not company earnings. Protocol revenue does not automatically accrue to token holders.
Market-cap values are a dated universe snapshot, not point-in-time historical supply data.
Current category labels are applied to historical prices; this creates survivorship and taxonomy hindsight.
Funding rates, open interest, liquidations, exchange flows, unlock schedules, historical circulating supply and developer activity are not held and are not inferred.
Equal weighting is used for sector history because true historical market-cap weights are unavailable.
Price and technicalsThrough 2026-07-31. Five-year weekly observations benchmarked to Bitcoin.
Protocol activityThrough unavailable. Fees, revenue, protocol TVL and DEX volume.
Chain activityUsers and transactions through unavailable; separately sourced chain TVL through 2026-07-25.
Market capSnapshot dated 2026-07-04; no historical supply series is implied.
Questions the page should answer directly
Crypto analysis FAQs
These 16 answers cover the questions this page can settle from data it holds — what the category is, how the score is built, what the coverage gaps are, and what would change the read. Every answer below is also present in the page’s FAQ schema and in its plain-text rendition. None of them is a recommendation.
What is Infrastructure crypto?
Infrastructure crypto refers to cryptocurrency projects grouped by what they actually do rather than by market fashion. This page tracks 6 such coins by market cap, price and Bitcoin-relative strength, with protocol fees and revenue where a project publishes them. Readings are as of 2026-07-31.
What is the total market cap of Infrastructure crypto coins?
The Infrastructure coins on this page are tracked against a universe of 894 of the top 1,000 crypto currency assets by market cap. Market-cap metadata is dated 2026-07-04, separately from the price series, and each coin's own figure is in the table on this page.
Are Infrastructure crypto coins outperforming Bitcoin?
Infrastructure has returned -54.8% versus Bitcoin over 52 weeks and -8.5% over 13 weeks on an equal-weight current-member index. 0/4 covered assets are above their 200-day averages as of 2026-07-31.
Which Infrastructure asset has the strongest research score?
CargoX ranks first at 57/100: 25.8 + 15.0 + 10.0 + 6.2 = 57.0. It is labelled “Illiquid · research only” with 50% overall evidence and 0% native-economics evidence.
Why are some Infrastructure coins not rated?
3 of the 9 coins are not rated this week: 3 have no price within 7 days. They stay listed with the reason beside each one rather than being scored at a neutral midpoint, because a missing reading is not a middling reading.
How is the Infrastructure 4-factor score calculated?
The exact sum is Market leadership /35 + Network and economic traction /30 + Value capture /20 + Liquidity and downside risk /15. Missing data pulls only the affected factor toward neutral and lowers evidence; it is never silently reweighted.
Why can a Infrastructure asset be labelled tape-led?
Tape-led means price and relative-strength evidence exists but less than half of the native traction and value-capture evidence is available. Such assets remain visible but rank below fully evidenced assets.
Does protocol revenue accrue to the token?
Not necessarily. Protocol fees and revenue measure network economics; token-holder value depends on the protocol’s burn, buyback, staking, distribution and governance rules. This page never assumes accrual merely because revenue exists.
Does crypto have a P/E or PEG ratio?
No comparable company-style P/E or PEG is used. Where coverage permits, the page shows network fee yield and protocol-revenue yield against a dated market-cap snapshot, with an explicit token-accrual caveat.
How much history is shown for Infrastructure?
The page shows five years of weekly price and relative-strength history and 20 complete calendar quarters of on-chain activity where available. Missing periods remain gaps.
Why do the crypto data dates differ?
Prices and technical metrics run through 2026-07-31; protocol activity through the latest available protocol date; chain users and transactions through the latest available chain date; chain TVL through 2026-07-25; market capitalisation is a separate snapshot dated 2026-07-04.
Are stablecoins and wrapped tokens included in Infrastructure?
No. Pegged, wrapped, liquid-staking receipt and tokenized-asset instruments are excluded because they do not have independent price discovery.
Can one token appear in multiple raw crypto categories?
Yes, but public MLA pages assign each asset to exactly one functional theme using a specific-to-general first-match taxonomy. Infrastructure therefore has one canonical membership list.
What would invalidate the current Infrastructure theme read?
The read weakens if the sector’s 13-week relative return versus Bitcoin falls below zero, fewer than one-third of covered assets remain above the 200-day average, and the leading asset’s native activity also contracts.
Does this page include funding rates, open interest or token unlocks?
No. Those datasets are not held in the current research store, so the page names them as unavailable rather than inferring them from price.
Which are the biggest Infrastructure crypto coins by market cap?
DoubleZero is the largest Infrastructure crypto coin by market capitalisation at $234M, ahead of Manadia at $101.2M and Espresso at $43.3M. The 6 Infrastructure coins on this page carry $458.6M between them, with a market-cap figure on file for 6 of them. Market-cap metadata is dated 2026-07-04.