Is Ethereum (ETH) Halal or Haram?

How the rank is worked out

1. Public market data. Market cap, 24-hour trading volume, fully diluted value and distance from the all-time high come from CoinGecko and refresh every night. Trading pairs and category are re-checked about once a month.
2. A peer group. CoinGecko's own categories place each coin with its kind: L1 and L2 networks, application tokens, or memecoins. Stablecoins and tokenized real-world assets are left unranked, because what makes them sound — reserves and custody — does not show up in market data.
3. Five separate rankings. Ethereum is ranked against its group on each measure. That is the bar you see above.
4. One blend, ranked again. The five are combined using the weights shown, and that blend is ranked within the group once more to give the top-2% figure.
5. Missing data counts neither way. If CoinGecko has no figure for a measure, that measure is left out and the others are scaled up to fill its share. A gap in the data never raises or lowers the rank.

It is a fixed formula. No AI model or analyst touches it, so the same data always gives the same rank, and you can check every input above.

What it can and cannot tell you

It does tell you how established, how easy to trade and how free of unreleased supply Ethereum is, compared with its peers today. It is blunter than the labels suggest in a few places:

• It is relative. A high rank means better than the rest of the group, not good in absolute terms. If the whole group falls, the ranks barely move.
• It leans towards size. Market cap carries the most weight, and larger coins also tend to trade more and list on more pairs. Established assets score well; new, small projects score poorly whatever their merits.
• Liquidity is one day of volume. A single busy or quiet day moves it. Turnover above 30% of market cap is capped so churn is not rewarded, but reported volume can still include wash trading.
• Breadth stops at 100. CoinGecko returns at most 100 trading pairs per coin, so the largest assets all tie on this measure.
• Dilution only sees supply that has a cap. It compares fully diluted value to market cap. A coin with no maximum supply shows 1.00x even while new coins are issued every day, so it measures locked supply, not ongoing inflation.
• Drawdown depends on timing. It is today's distance from the all-time high. A coin that launched at a peak looks weak and one that never had a mania looks strong; it does not show how it held up through past crashes.
• It reads nothing about the project. Team, technology, revenue and who holds the supply are outside it. That is what the FA score covers.

How to use it well

• Shortlist after the Shariah check. The verdict tells you whether you may hold Ethereum. Among coins that pass, the rank helps you see which are the most established of their kind.
• Check that you could get out. Low liquidity or breadth bars mean thinner markets. Keep positions smaller and expect wider spreads when you sell.
• Look for supply still to come. A low dilution bar means a lot of the supply is not yet circulating. Read the unlock schedule before buying.
• Read it beside the FA score. When both are high, the signal is stronger. A high FA with a low Quant often means a young or thinly traded project; the reverse means a large, liquid coin whose fundamentals our research questioned.
• Compare like with like. Top 10% of memecoins and top 10% of networks are different claims. Compare ranks within a group, not across groups.
• Watch the direction. The rank refreshes nightly. A slide over several weeks is worth looking into; a one-day move usually is not.

Do not use it to time trades, forecast price or decide whether a coin is halal. A permissible coin can rank badly, and a badly ranked coin can still rise. Educational only, not financial advice.