How crypto grades are calculated

Coins have no financial statements. With no revenue, operating profit or debt, the financial grade Jupick uses for stocks cannot be applied to coins as it is. So crypto grades are set on a fully separate set of axes. Instead of financials they look at market structure: size from market cap, liquidity from trading volume, and stability from how much the price has swung recently.

One thing needs to be clear first. A grade is not a forecast of future prices. A crypto grade is only a “current status sheet” summarizing market structure at this moment, and a high grade does not ensure future price gains or returns. A high stability score does not mean “a safe investment” either. It is only an observation that the price has swung less over the last few days or weeks. Jupick makes no suggestion to trade of any kind and gives no price forecasts. This document explains “how the grade is calculated”. It does not say “what to hold”.

The overall score mixes the three axis scores at different weights. Size counts most, with how actively a coin trades and how stable it has been recently also reflected. The weights are market cap 40%, liquidity 35% and stability 25%.

Each axis is first converted into its own score from 0 to 100. The numbers in the tables below are not written by hand but taken directly from the actual scoring formula. When the formula changes, these tables change with it.

Market cap · log scale. Size spreads out by orders of magnitude rather than absolute amounts, so it is measured on a log scale. ₩1 trillion is the reference point at 50 points, and the score rises by about 16.6 points each time market cap grows tenfold. Very large coins stop at 100 points.

Liquidity · turnover of volume to market cap. Using raw volume would always favor large coins, so it measures what percentage of market cap trades in a day. Coins of different sizes are compared fairly. A turnover of 6% or more counts as “very active” and gets full marks.

Stability · recent volatility. The smaller the average of the absolute 7-day and 30-day price changes, the higher the score. It looks at the size of the swing itself, whether up or down. An average change of 0% scores 100, and 40% or more scores 0. Coins without volatility data yet are set at a neutral 50 points, neither reward nor penalty.

Each axis also has a guide written for beginners: crypto market cap, liquidity and turnover and volatility and the stability score.

Multiplying the three axis scores by 40%, 35% and 25% and adding them gives an overall score from 0 to 100. The number shown on screen is rounded down, so rounding never makes a coin look one grade higher. The overall score becomes one of five letter grades by the cutoffs below.

Apart from the grade, the crypto page shows two reference metrics. The kimchi premium shows by what percentage the same coin trades above the overseas price on a Korean exchange (Upbit), and the stablecoin metric shows whether dollar-pegged coins are actually holding near one dollar. Both are current status figures not used in the grade. The ideas and how to read them are in the kimchi premium and stablecoin guides.

The grades of the major coins and these metrics can be seen directly on the Crypto grades page.

• A grade is not a trading signalAn S grade never means “get in” and a D grade never means “get out”. A grade only summarizes current market structure and is separate from future prices.
• Coins swing a lotThe stability score only summarizes the swings of the last few days or weeks and does not prevent tomorrow’s swings. A high stability score does not mean the principal is protected.
• Delays in public dataJupick uses public prices (CoinGecko, Upbit and others). If a source updates late or prices differ between exchanges, the scores are affected too.
• Only major coins are coveredJupick covers only major coins with the largest market caps. Coins not listed here are not scored, and their absence says nothing good or bad about them.