# Infrastructure crypto coins — market cap, protocol fees and revenue

> Infrastructure vs Bitcoin — Relative Strength & Breadth

Bottom line: CargoX ranks first for research priority in Infrastructure crypto at 58.2/100, and its native activity proof is incomplete. The theme's 13-week excess versus Bitcoin is -1% on 0% breadth, which is what decides whether that lead is isolated or broad. 0 of the 9 assets here carry enough native evidence to move past a tape-led label.

## Agent research brief

- What matters now: Infrastructure is -1% versus Bitcoin over 13 weeks. Only 0% of covered assets are above trend; leadership is narrow.
- Best research lead: CargoX ranks first at 58.2/100 with 50% total evidence and 0% native evidence.
- The contradiction: The score leader is tape-led: price and liquidity are doing more work than verified network economics.
- What to do with it: Keep this as a research queue, not an entry list. The market gate reopens only when Bitcoin trend and sector breadth improve.

Data: price 2026-07-24; protocol unavailable; chain users/transactions unavailable; chain TVL 2026-07-24; market-cap snapshot 2026-07-04.

## 4-Factor Crypto Evidence Score

A within-theme research-priority score for the 9 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 58.2/100 on 50% evidence. It ranks research attention, not portfolio action.

1. CargoX (CXO): 58.2/100 — Illiquid · research only; 26.6 + 15.0 + 10.0 + 6.6 = 58.2; evidence 50%; native evidence 0%
   Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.
2. Succinct (PROVE): 50.4/100 — Tape-led · on-chain proof incomplete; 14.9 + 15.0 + 10.0 + 10.5 = 50.4; evidence 50%; native evidence 0%
   Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.
3. Dual (DUAL): 50/100 — Tape-led · on-chain proof incomplete; 17.5 + 15.0 + 10.0 + 7.5 = 50.0; evidence 0%; native evidence 0%
   Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.
4. TAC (TAC): 50/100 — Tape-led · on-chain proof incomplete; 17.5 + 15.0 + 10.0 + 7.5 = 50.0; evidence 0%; native evidence 0%
   Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.
5. Espresso (ESP): 48.7/100 — Illiquid · research only; 17.5 + 15.0 + 10.0 + 6.2 = 48.7; evidence 12%; native evidence 0%
   Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.
6. Manadia (UMXM): 47.2/100 — Tape-led · on-chain proof incomplete; 13.5 + 15.0 + 10.0 + 8.7 = 47.2; evidence 23%; native evidence 0%
   Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.
7. Seeker (SKR): 47.1/100 — Illiquid · research only; 17.5 + 15.0 + 10.0 + 4.6 = 47.1; evidence 12%; native evidence 0%
   Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.
8. DoubleZero (2Z): 40.2/100 — Illiquid · research only; 7.9 + 15.0 + 10.0 + 7.3 = 40.2; evidence 50%; native evidence 0%
   Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.
9. QuarkChain (QKC): 36.3/100 — Illiquid · research only; 4.6 + 15.0 + 10.0 + 6.7 = 36.3; evidence 50%; native evidence 0%
   Decision use: Treat this as a tape-led lead. Require native activity confirmation before upgrading research priority.

## Where is capital actually committed on-chain?

What the numbers say: TAC leads Infrastructure crypto on Quarter-end TVL at $1.7M. Coverage is 1 of the 9 assets in this theme, through the Q2 2026 calendar quarter. Where a project publishes nothing, the cell stays blank rather than being read as zero.

Investor read: Use this as a network-economics research lead, not token-holder earnings. Verify whether the measured activity accrues to the token before treating scale as value capture.

This conclusion weakens if: TVL rises while fees and users fall; that pattern can be incentive-funded mercenary liquidity.

- TAC (TAC): $1.7M

## Every asset

- CargoX (CXO) — 90d +5.5%; RS-BTC +23%; score 58.2; activity tape only
- Succinct (PROVE) — 90d -25%; RS-BTC -8.0%; score 50.4; activity tape only
- Dual (DUAL) — 90d —; RS-BTC —; score 50; activity tape only
- TAC (TAC) — 90d —; RS-BTC —; score 50; activity chain TVL
- Espresso (ESP) — 90d —; RS-BTC —; score 48.7; activity tape only
- Manadia (UMXM) — 90d —; RS-BTC —; score 47.2; activity tape only
- Seeker (SKR) — 90d —; RS-BTC —; score 47.1; activity tape only
- DoubleZero (2Z) — 90d -31%; RS-BTC -14%; score 40.2; activity tape only
- QuarkChain (QKC) — 90d -37%; RS-BTC -20%; score 36.3; activity tape only

## Limitations

- 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.

## FAQs

### What is Infrastructure crypto?

Infrastructure crypto refers to cryptocurrency projects grouped by what they actually do rather than by market fashion. This page tracks 9 such coins by market cap, price and Bitcoin-relative strength, with protocol fees and revenue where a project publishes them. Readings are as of 2026-07-24.

### 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 -55.8% versus Bitcoin over 52 weeks and -1% over 13 weeks on an equal-weight current-member index. 0/4 covered assets are above their 200-day averages as of 2026-07-24.

### Which Infrastructure asset has the strongest research score?

CargoX ranks first at 58.2/100: 26.6 + 15.0 + 10.0 + 6.6 = 58.2. It is labelled “Illiquid · research only” with 50% overall evidence and 0% native-economics evidence.

### 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 2026-07-24; protocol activity through the latest available protocol date; chain users and transactions through the latest available chain date; chain TVL through 2026-07-24; 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.

### Where is capital actually committed on-chain?

TAC leads Infrastructure crypto on Quarter-end TVL at $1.7M. Coverage is 1 of the 9 assets in this theme, through the Q2 2026 calendar quarter. Where a project publishes nothing, the cell stays blank rather than being read as zero. Investor read: Use this as a network-economics research lead, not token-holder earnings. Verify whether the measured activity accrues to the token before treating scale as value capture. This conclusion weakens if TVL rises while fees and users fall; that pattern can be incentive-funded mercenary liquidity.

### Which are the biggest Infrastructure crypto coins by market cap?

DoubleZero is the largest Infrastructure crypto coin by market capitalisation at $234M, ahead of TAC at $169.6M and Manadia at $101.2M. The 9 Infrastructure coins on this page carry $726.3M between them, with a market-cap figure on file for 9 of them. Market-cap metadata is dated 2026-07-04.