The "AI agent economy" minted billions in market cap. But market cap is a price × supply number — it's not money you can take out. So we asked the only question that matters: how much of each token's "value" is backed by real, sellable liquidity — and how much is paper? Paper % = the share of market cap that isn't backed by on-chain exit liquidity. Higher = harder to actually cash out near the quoted price.
| Token | Market cap | Real liquidity | Paper % | Verdict | |
|---|---|---|---|---|---|
| #1 | ELIZAOS ↗ elizaOS (ex-ai16z, post-migration) — agent framework ⚠ mint authority active · mutable metadata |
$2.4M | $12K ▼25% |
99.5% | ALMOST ALL PAPER |
| #2 | VIRTUAL ↗ Virtuals Protocol — the dominant agent launchpad ⚠ hidden owner · mintable |
$404.3M | $2.1M ▼54% |
99.5% ▲0.6pt |
ALMOST ALL PAPER |
| #3 | AIXBT ↗ aixbt — the #1 "useful" market-intel agent ✓ contract clean |
$18.3M | $801K ▼5% |
95.6% ▲0.1pt |
MOSTLY PAPER |
| #4 | FARTCOIN ↗ Fartcoin — AI-meme (Truth Terminal lineage), the liquidity king ✓ contract clean |
$121.4M | $6.7M ▼11% |
94.5% ▼0.4pt |
MOSTLY PAPER |
| #5 | ARC ↗ arc (Rig) — the Rust agent-framework token ✓ contract clean |
$59.8M | $4.3M ▲22% |
92.8% ▲1.7pt |
MOSTLY PAPER |
| #6 | ZEREBRO ↗ Zerebro — actively traded, still mostly paper ✓ contract clean |
$29.7M | $3.0M ▲2% |
90.0% ▲0.4pt |
THINLY BACKED |
| #7 | GOAT ↗ Goatseus Maximus — Truth Terminal, the origin story ✓ contract clean |
$14.0M | $1.4M ▼4% |
89.9% ▼0.1pt |
THINLY BACKED |
| #8 | GRIFFAIN ↗ Griffain — Solana AI-agent platform ✓ contract clean |
$13.8M | $1.8M ▼7% |
86.8% ▼0.1pt |
THINLY BACKED |
| #9 | VADER ↗ VADER — a Virtuals-launched agent (the long tail) ✓ contract clean |
$950K | $213K ▼11% |
77.6% ▼0.3pt |
THINLY BACKED |
| #10 | LUNA ↗ Luna — Virtuals flagship agent (the healthier end of the range) ✓ contract clean |
$3.8M | $1.3M ▼7% |
64.4% ▲0.8pt |
relatively backed |
Liquidity via DexScreener ("real liquidity" = deepest single pool's USD; paper% = 1 − liquidity ÷ market cap); contract-safety read via GoPlus Security (honeypot / mint / owner-control / tax, EVM + Solana). The ▲▼ chips show each metric's change vs ~7d ago, from our own snapshot history. Informational, not financial advice — liquidity + contract state change fast. Verified-canonical contracts only. Updated 2026-10-24 16:20 UTC.
Also free: PulseChain Safety Leaderboard · Fresh Rug Radar · check any token → · A starter set — the index expands as we verify more tokens.