Ethereum (ETH)
$ 4,565 has showcased an impressive performance this quarter with over an 80% increase, marking it as the third strongest third-quarter performance in its history. According to data from CoinGlass, this major altcoin brilliantly surpassed Bitcoin, which only showed a 10% increase during the same period.
Record-Setting Third Quarter Data
The current quarter’s performance of ETH reveals a measurable divergence in the market. While Bitcoin (BTC) 
$ 118,458 experiences limited growth, ETH sees a double-digit rise, surpassing 80%. When placed side by side with Bitcoin in the market’s core, ETH emerges as the clear winner of the period based on the available data.
Ethereum’s previous best third-quarter performance was recorded in 2020 during what was dubbed the “DeFi Summer,” witnessing a 59.5% rise. During this phase, yield farming interests surged, and the total value locked (TVL) on the network increased by 380% compared to the previous quarter. This period in 2020 remains ingrained as a peak moment symbolizing intensified interest towards the Ethereum ecosystem.
Ethereum’s all-time best quarter was experienced at the start of 2017 with a staggering 518% rise, coinciding with the onset of the ICO frenzy and the significant capital accumulation through numerous ERC-20 token issuances. Both developers and institutional investors gravitated towards Ethereum. However, in today’s scenario, where ETH’s market cap stands at 539 billion dollars, a similar magnitude of a leap is deemed less likely.
The Weakest Third Quarter Recorded in 2018
Contrarily, Ethereum’s weakest third quarter occurred in 2018. This period was impacted by a widespread downturn across the cryptocurrency market, causing ETH to lose 49% of its value. The tremors from the ICO market intensified the decline. The lingering low adoption rate of decentralized applications (dApps) and ongoing scalability issues sustained the pressure. This juxtaposition in the third-quarter performances accentuates the historical context among quarters.
In summary, Ethereum marked a milestone with over an 80% boost this quarter. CoinGlass reports this outperformance over Bitcoin, which rose only 10%. Ethereum’s best and worst quarters demonstrate its market evolution.
