ShurIQ Interactive View · Issue 001 / BitMine at $10,000 ether · Research closed October 31, 2026 All views

View 03 · The steady state

Ethereum held first of thirteen chains in all 36 months to October 31, 2026, while ether fell 41.77 percent over the last twelve.

Where Ethereum stood against twelve other chains each month for three years, what moved and what did not, and what past market shocks did to that standing.

Monthly readings, November 30, 2023 to October 31, 2026 · ether closes from Yahoo Finance

1 of 13
Ethereum's rank on the Structural Scorecard in every one of the 36 months
0
Months in which Ethereum changed rank. Every other chain changed rank at least 7 times
64.2%
Ether's fall from $4,390 on August 31, 2025 to $1,570 on June 30, 2026
2 of 4
Dimensions that held through that fall: Settlement demand (92.78 to 100.00) and Ecosystem gravity (87.20 to 94.56)

Two of Ethereum's four scores did not move with the price, and the other two moved with money flows.

The four lines are Ethereum's monthly scores on the four scored dimensions, 0 to 100. The grey area behind them is ether's month-end price. Drag the month or press play to read any month.

Month ending October 31, 2026

Swipe the chart sideways to see all 36 months.

Settlement demand stayed between 92.78 and 100.00 and Ecosystem gravity between 87.20 and 94.56 while ether went from $2,053 on November 30, 2023 to $4,390 on August 31, 2025, $1,570 on June 30, 2026 and $2,240 on October 31, 2026. Capital access moved in steps, 0 to about 47 to about 97, with the sign of each month's fund flow.

The field re-ordered around a chain that did not move.

Each line is one chain's rank on the Structural Scorecard, month by month. Hover or tap a line to follow one chain.

Swipe the chart sideways to see all 36 months.

Ethereum was first in all 36 months. Three chains ended at least three places higher than they started, Solana, Bitcoin and Hyperliquid, and two ended at least three places lower, Tron and Arbitrum. OP Mainnet changed rank most often, 32 times.
Show the 36 months as a table
Month endingRankCompositeSettlement demandEcosystem gravityMonetary dynamicsCapital accessEther close

Method

Scores are from the Structural Scorecard, cut B: thirteen chains scored monthly on Settlement demand, Monetary dynamics, Capital access and Ecosystem gravity, each 0 to 100 against the cohort in the same month, back-cast from public series over the 36 months from November 1, 2023 to October 31, 2026. Rank is by composite score. Ether's price is the last daily close of each month from Yahoo Finance.

The steady-state test fitted three candidate rules to the monthly scores and asked whether the chains drift back toward one position. Each candidate scored below the 0.65 pass mark (best 0.538), under every holdout split. The test therefore does not describe a steady state; this page reads the scores and ranks directly. The lead on the shocks tab is the best candidate's reading, kept because the shock counts were built on it and labelled as nominal.

The shock tab lines up seven monthly series against the monthly change in that lead. The worst-tenth line marks the tenth of months with the largest adverse change. The rank correlation is Spearman's, over the months with data.

The steady-state test

What it is, and what it found here

1 · The idea

A ball in a bowl comes back to the bottom.

steady state a push moves it it rolls back

The test is named for Aleksandr Lyapunov, who showed in 1892 that a system is stable at a resting point when a measure of its distance from that point keeps shrinking after any small push. Picture a bowl: push the ball and it rolls back. Inside the bowl's rim, the basin, every push ends at the bottom. Outside it, the ball does not come back.

2 · Our use

Four scores are the ball's position. Thirty-six months are the pushes.

Settlement demand Ecosystem gravity Bitcoin Ethereum fitted bowl

Each chain's four monthly scores are a position. The test fits a bowl to all thirteen chains over 36 months and checks it on chains held out of the fit: after a push, does the measure shrink, and does a chain near the bottom stay there?

Here it did not. The best of three candidate bowls scored 0.538 against a pass mark of 0.65, and no split of the chains passed. One reason is that Capital access jumps between 0, about 47 and about 97 as fund flows change sign; a ball that teleports has no bowl.

3 · The direct reading

Ethereum's own position, month by month, next to the price.

SettlementGravity ether price RANK 1 OF 13

With no bowl to measure against, the question becomes the plain one: did Ethereum's standing hold while the field moved? It did. Rank 1 of 13 in all 36 months, Settlement demand between 92.78 and 100.00, Ecosystem gravity between 87.20 and 94.56, through a 64 percent fall in ether's price from its high.

The shocks tab still uses the best candidate's distance reading, called the lead there and marked nominal, because the shock counts were built on it.

In one sentence: the formal test could not find a resting point for this field, so the report measures resilience the direct way, as a position that held for three years while the price and the competition did not.