Ethereum posts third-best Q3 performance ever with 66% gain

Ethereum just wrapped up its third quarter with a roughly 66.55% gain, making it the network’s best Q3 since 2016 and the third strongest in its history. For context, the previous standout Q3 was 2020’s “DeFi summer,” which delivered a 59.5% return. The performance is even more striking when you compare it to Bitcoin, which managed a comparatively sleepy 6-10% gain over the same period. What drove the rally Three major catalysts converged to push Ethereum higher through July, August, and September. First, spot Ethereum ETFs became a vacuum for capital. Net inflows across these products surpassed $10 billion cumulatively, with nearly $4 billion pouring in during August alone. Second, public companies went on an Ethereum shopping spree. Corporate treasury purchases exceeded $15 billion in ETH during the quarter. Third, decentralized finance continued to build momentum beneath the surface. Total value locked across Ethereum-related chains, including its growing constellation of Layer-2 networks, climbed to approximately $88 billion by the end of Q3. Price action and the near-miss at all-time highs ETH spent portions of Q3 trading above $4,000 and at times approached the $5,000 level, ...