Performances
RD Popularity Index
RD Growth Index
| 1h | 24h | 7d | 30d | 60d | 90d |
|---|---|---|---|---|---|
| 0.77% | 0.49% | 8.96% | 3.02% | 7.13% | -- |
Comparison
Investment
Tokenomics
Unlock Progress
Top Holders
| Address | Token | Quantity | Percentage | Value |
|---|---|---|---|---|
| 0xd57d...69ee |   FUEL | 3,784,093,661.69 | 35.73% | $2.71M |
| 0xa4ca...3f67 | FUEL | 2,958,615,330.03 | 27.93% | $2.12M |
| 0x2ac7...b0d5 | FUEL | 497,547,130.27 | 4.7% | $357.36K |
Open Markets
| # | Exchange | Pair | Price | +2% depth | -2% depth | Volume (24h) | volume % |
|---|---|---|---|---|---|---|---|
| 1 | KKuCoinCEX | FUEL/USDT | $0.001832 | $29,174 | $39,118 | $66,122 | 17.93% |
| 2 | BBingXCEX | FUEL/USDT | $0.001833 | $24,419 | $7,967 | $32,102 | 8.70% |
| 3 | BBybitCEX | FUEL/USDT | $0.001835 | $15,075 | $10,521 | $27,615 | 7.49% |
| 4 | BBitgetCEX | FUEL/USDT | $0.001833 | $47,367 | $28,607 | $11,012 | 2.99% |
| 5 | FUEL/WETH | $0.001832 | $225 | $225 | $2,574 | 0.70% |
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About Fuel
Fuel is a modular execution layer for Ethereum that replaces the account model with a UTXO model, pairing FuelVM and the Sway language for parallel execution. Transactions express inputs and outputs as strict state transitions, so non-conflicting UTXOs verify at the same time and throughput does not depend on single-threaded ordering; settlement returns to Ethereum with fraud proofs and state-root checks for verifiability. It addresses the congestion general rollups hit at peak from state contention: parallelism makes costs more predictable for high-frequency, low-value activity such as market making, payments and games.
It ships an SDK, an indexer and a bridge, and developers can use the execution layer alone while leaving data availability and settlement to other modules. Clients are trading applications and infrastructure teams needing throughput. Both locked value and token market capitalisation are small, with market value below locked value, thin order books and price discovery resting on a few venues; bridged assets mainly enter through the official bridge, concentrating the exit path.
Fuel was founded in 2019. In 2020, Fuel V1 launched on Ethereum mainnet as the first optimistic rollup and was among the first to reach Stage 2 security status, laying the foundation for its evolution. The team then shifted focus to a modular execution layer, and in February 2024 unveiled the "Rollup OS" vision — an operating system purpose-built for Ethereum rollups, focusing on parallelization, state minimization, and interoperability.
In May 2024, Fuel launched its final testnet on Sepolia, attracting nearly 2 million users, 1M+ contracts, and 25M+ transactions within months, validating the architecture. In early Q4, the Fuel Ignition mainnet went live, powered by FuelVM and a UTXO-based asset model, supporting parallel execution, native account abstraction, and inheriting Ethereum-grade security. The FUEL token was introduced simultaneously, with the Genesis Drop allocating 10% of total supply to over 200,000 addresses; the community received 20% of the initial supply, underscoring decentralization commitments.
Subsequently, tools like Fuel Agent Kit for AI agents expanded the Rollup OS ecosystem. These milestones chart Fuel's long-term path from a pioneering rollup to a high-performance execution-layer operating system.
Unlocks and dilution: The 12-month post-TGE cliff expired in August-September, with an estimated 200-300 million FUEL from team and investor allocations entering circulation, about 14% of the then-circulating supply, the first major supply shock; there is no hard supply cap and roughly 1.7 billion tokens remain locked.
Fundamentals: On July 24 volume jumped 272.6% and price rose 7.5%, yet market cap was only about $6.07 million against $9.87 million of TVL, so the token trades below the value it secures; daily volume of roughly $1.6 million leaves order books extremely thin. A November 2025 proposal on fee-funded buybacks and burns has still not been implemented.
Through 2026 Fuel kept shipping against a collapsed valuation. A scheduled network migration ran on 13 April with brief congestion but no loss of funds; on 25 May the team ran Super Sprint, a 50,000 dollar onchain trading competition meant to demonstrate sub-50 millisecond execution, 1 basis point fees and zero gas; and on 20 July a mainnet infrastructure maintenance paused block production for five to ten minutes before resuming.
People and valuation tell the other half of the story. On 8 September Rishabh Keshan stepped up as co-founder alongside Nick Dodson and Voxelot to lead the next phase, while an April industry tally put FUEL 99.25 percent below its 1 billion dollar private valuation. In August independent validator BlockPro said it would shut its Fuel validator and public endpoints after a year without delegation or a sustainable revenue path, exposing thin ecosystem incentives.
Future strategy and roadmap: Fuel plans to compete for high-frequency DeFi and onchain order books by publishing real latency and fee data to attract market makers, and it needs a clearer delegation programme so infrastructure providers do not exit for lack of revenue.
Nick Dodson — Co-founder & CEO of Fuel Labs; founded decentralized crowdfunding platform WeiFund in 2015 and is an early Ethereum ecosystem participant.
John Adler — Co-founder; also co-founder of Celestia.
Arjun Kalsy — Chief Growth Officer; formerly led ecosystem growth at Polygon and Mantle.