Ethereum’s Surprisingly Strong Quarter
Ethereum is quietly having its best quarter ever—which, honestly, feels a little unexpected. It’s not like ETH is some new, untested project. It’s been around since 2016, and by now, you’d think its growth might slow down. But according to CoinGlass, the numbers don’t lie: Ethereum is up more than 80% this quarter.
That’s a big deal, especially when you compare it to Bitcoin. BTC, the usual market leader, has only managed a 10% gain in the same period. It’s not exactly lagging, but it’s definitely being overshadowed. Fundstrat’s Tom Lee recently suggested Bitcoin might be having a “2017 moment,” but right now, Ethereum seems to be the one stealing the show.
Beating the “DeFi Summer” High
The last time Ethereum had a quarter this strong was back in 2020, during what crypto folks called the “DeFi summer.” Back then, ETH jumped nearly 60%, fueled by the sudden boom in decentralized finance. Yield farming was all the rage, and Ethereum’s total value locked (TVL) shot up by 380% in just three months.
This time, though, the surge feels different. There’s no single trend driving it—no explosive new sector like DeFi was back then. Maybe it’s just a mix of things: upgrades finally rolling out, institutional interest picking up, or even just traders rotating out of Bitcoin. Whatever the reason, it’s working.
The Other Side of the Coin
Of course, not every quarter has been kind to Ethereum. The worst one on record? 2018, when ETH dropped almost 50%. That was during the brutal crypto winter, right after the ICO bubble burst. Back then, Ethereum was struggling—dApps weren’t catching on, transaction fees were a mess, and scaling felt like a distant dream.
It’s a stark contrast to early 2017, when ETH skyrocketed by 518% in a single quarter. That was the peak of the ICO craze, with new tokens launching every day and developers flocking to the network. These days, a jump like that seems impossible—Ethereum’s market cap is over $500 billion now, so those wild early gains just aren’t in the cards anymore.
Still, an 80% climb in three months is nothing to shrug off. Whether it keeps going or cools off, it’s a reminder that Ethereum isn’t done surprising us yet.
