Mid Cap Madness

Weekly mid-cap conviction screen. 31 picks in the $40M–$100M market-cap band, every one with FDV under $100M — and every ticker linked straight to its CoinGecko page for one-click verification.

Mcap $40M–$100M FDV < $100M FDV/Mcap ≤ 2.5× Active devs Every pick CoinGecko-linked Not financial advice

Sister screen Low Cap Madness — the micro-cap edition: 25 conviction picks with mcap < $5M or FDV < $21M, same verified-data methodology. →

Headline Five

The top five of this week's 31-pick mid-cap screen. Tickers link to CoinGecko (new tab).

All 31 Ranked

Every pick that cleared the mid-cap screen, ranked by conviction. Click a ticker to open its CoinGecko page (new tab); click the row for dev evidence, dated catalyst, thesis and top risk. Sort by mcap, FDV or 24h volume; filter by chain or flag.

Chain

Flag

# Project (links to CoinGecko) Chain(s) Mcap FDV 24h Vol Key catalyst

Vetted Candidates — 2026-08-03

New candidates discovered this week, scored against the 6-dimension rubric. Admitted picks meet the ≥40 bar; rejected candidates fell below.

✅ Admitted (4)

★ 72 /100

EUL↗ Euler Finance (lending) Ethereum + Arbitrum + Base + BSC

Mcap $40.6M FDV $40.6M Vol $35.2M

Tok:22/25 Val:14/20 Liq:12/15 Dev:10/20 Sec:10/10 Cat:4/10

No public dev

Thesis

Fully-diluted lending protocol rebuilt after 2023 hack with modular vault architecture (Euler Vault Kit + EVC). Zero unlock overhang, $35M daily volume.

Top risk

V2 TVL still below pre-hack levels; no public GitHub; no near-term dated catalyst.

Dev: No public GitHub found; V2 launched Sep 2024 — evidence via product/docs Catalyst: V2 modular lending live since Sep 2024; cross-chain expansion in progress

★ 54 /100

SUSHI↗ SushiSwap (multi-chain DEX) Ethereum + Base + BSC + Arbitrum

Mcap $45.4M FDV $45.4M Vol $5.5M

Tok:18/25 Val:15/20 Liq:7/15 Dev:6/20 Sec:4/10 Cat:4/10

Thesis

Multi-chain DEX with real fee revenue shared to xSUSHI stakers. Fully circulating, 5+ chains including Solana.

Top risk

Low vol vs mcap; GitHub inaccessible; competitive DEX space; governance drama history.

Dev: No public GitHub found; Sushi ships via product updates on 30+ chains Catalyst: V4/concentrated liquidity; cross-chain expansion ongoing

★ 52 /100

ZRX↗ 0x Protocol (DEX infra) Ethereum

Mcap $68.6M FDV $80.9M Vol $7.2M

Tok:25/25 Val:10/20 Liq:8/15 Dev:3/20 Sec:4/10 Cat:2/10

Thin DEX

Thesis

Legacy DEX infrastructure with fully diluted supply, staking yield (ZRX → ETH fees), and zero unlock risk.

Top risk

Archived GitHub; no dated catalyst; competitive aggregation space; indirect value accrual.

Dev: 0xProject/0x-monorepo archived (last push Apr 2021); 0x Labs active privately Catalyst: ZRX staking live; competitive landscape (UniswapX, CoW Protocol)

★ 41 /100

GALA↗ Gala Games (gaming ecosystem) Ethereum + Solana

Mcap $88.9M FDV $88.9M Vol $16.6M

Tok:15/25 Val:8/20 Liq:11/15 Dev:5/20 Sec:2/10 Cat:0/10

No public dev

Thesis

Legacy gaming ecosystem with real products, GalaChain L1, and Music/Film divisions. $89M mcap at top of band.

Top risk

No verifiable GitHub; centralized chain; GameFi narrative weak; near band ceiling.

Dev: No public GitHub; GalaChain is closed-source; products shipped (games, music, film) Catalyst: Burn mechanisms proposed; Mobile SDK; Asian market expansion

❌ Rejected (4)

SKYAI — Score 28/100: Memecoin/AI hybrid with 90%+ ATH drawdown. No audit, no GitHub, no revenue, no functional product after $50M presale.
RECALL — Score 30/100: Testnet-phase token at $42M mcap. No security audit, no public GitHub, heavy investor unlock overhang looming.
ZETA — Score 31/100: Massive ongoing unlock schedule through 2026-2028. 8.6% supply unlock just occurred Aug 1. Continuous dilution from 5+ allocation categories.
BIO — Score 38/100: 35%+ supply still locked through 2030. Ongoing investor/team unlocks through 2026. No audit, no GitHub, no dated catalyst.

Notable Rejects

Screened and cut — the most instructive near-misses and traps from this week's sweep.

Methodology & Criteria

Same verified-data discipline as Low Cap Madness: every figure checked live via CoinGecko / DexScreener / GitHub on the snapshot date.

Screen criteria (all must hold)

Market cap $40M–$100M (verified live)
FDV < $100M
Chains: Ethereum, BSC, Base, Optimism, Arbitrum, Hyperliquid, Solana
Active devs (2026 evidence: commits, releases, shipping product)
Concrete, dated catalyst ≤ 3 months out
Tradeable liquidity (CEX-only names are kept but flagged)
Excluded: tokenized stocks/securities, and every name already in the Low Cap 25

Why the FDV rule matters

mcap ≥ $40M and FDV < $100M
⇒ FDV / mcap ≤ 100 / 40 = 2.5×
⇒ circulating ≥ mcap / FDV ≥ ~40% of supply

Pairing a market-cap floor with an FDV ceiling mechanically caps the FDV/mcap ratio at 2.5×. That guarantees at least ~40% of total supply is already circulating, so no pick in this list carries the brutal 90%+ unlock overhang typical of low-float mid-caps.

Sources & verification

All figures come from live checks run on 2026-08-03: CoinGecko (price / mcap / FDV / supply), DexScreener (DEX pools & volume) and GitHub (dev activity). Nothing is fabricated — where a pick has no public repo, that is stated in its dev-evidence line, not hidden.

Every ticker on this page links to its CoinGecko page so any number can be re-verified in one click.

Flag legend

CEX-only — no meaningful DEX pairs on the listed chain(s); liquidity is on centralized exchanges (e.g. ELF, HOT, AXL, ROSE, GPS, RIF)
Thin DEX — on-chain depth is unusually shallow vs market cap (e.g. BAT, ENJ, ZIG, RSC)
No public dev — no verifiable public GitHub; activity evidenced by product/audits/X instead (e.g. VELO, CROSS, XAUM)
Low vol — 24h volume is tiny against market cap (e.g. RAIL at $72K/day)
No dated catalyst — qualifier on dev strength, but no ≤3-month dated catalyst found (RSC, NUSD)

Weekly Re-Scan

Re-scanned every week, alongside Low Cap Madness

Each weekly sweep re-verifies mcap, FDV, volume and dev activity for all 31 picks, drops any that break the $40M–$100M band or the FDV ceiling, flags catalysts that have hit or slipped, searches the allowed chains for newly qualifying mid-caps, and posts a concise update to the group.

Not financial advice. Data snapshot 2026-08-03, all figures verified live via CoinGecko/DexScreener/GitHub. Mid-cap markets move fast — re-verify before any position. Flagged names (CEX-only liquidity, thin volume, unverifiable devs) carry elevated risk; the flags are shown, not smoothed over. Do your own research.