Ethereum Has the Best Q3 Ever

Ethereum is currently having its best quarter ever, which may come as a surprise since this cryptocurrency has been around since 2016. According to data provided by cryptocurrency analytics firm CoinGlass, ETH has now increased by more than 80% in the current quarter.

This currency has significantly outperformed Bitcoin, which has only increased by 10% in the current quarter. According to Tom Lee of Fundstrat, he previously stated that Bitcoin is experiencing a "Bitcoin moment 2017." Surpassing the "DeFi Summer" Q3 had the best previous performance of cryptocurrency recorded in 2020. At that time, this cryptocurrency surged by 59.5%. This event takes place in the context known as "DeFi summer", when top altcoins benefit from the rapid growth of the decentralized finance sector. The productive farming activities have rekindled interest in Ethereum, with the network's TVL surging by 380% compared to the previous quarter. Worst Quarter of Ethereum The worst third quarter for cryptocurrency to date was recorded in 2018. At that time, cryptocurrency plummeted by 49% as the overall cryptocurrency market collapsed. During that period, ETH was particularly hard hit after the collapse of ICOs. This network also faces several other issues, such as an extremely low adoption rate for decentralized applications (dApp) as well as persistent scalability problems. Best of All Time Ethereum had its best quarter ever at the beginning of 2017 with a growth rate of 518%. This marked the beginning of the ICO craze as numerous projects started issuing their own ERC-20 tokens to raise funds. This cryptocurrency is attracting attention from both developers and institutions. Of course, such a spike in a quarter is very difficult to achieve as Ethereum's market capitalization is currently at 539 billion dollars.