The flagship Altcoin Ethereum (ETH) is currently earning its highest quarter to date. This may come as a surprise given that cryptocurrency has existed since 2016.
ETH is currently up over 80% in the current quarter, according to data provided by Cryptocurrency Analytics company Coinglass.
It’s far surpassed Bitcoin, and so far only added 10% this quarter.
As Reported by U.TodayFundstrat’s Tom Lee previously claimed that Bitcoin had a “Bitcoin 2017 moment.”
Better than “Defi Summer”
The previous best performance Q3 of cryptocurrency was recorded in 2020. At the time, cryptocurrency rose 59.5%.
This comes within the so-called “Defi Summer,” where the top altcoins have benefited from the rapid growth of the decentralized financial sector.
Agriculture has rekindled interest in Ethereum, with network totals locked (TVL) rising by a whopping 380% compared to the previous quarter.
Until the worst Q3 of Ethereum
The worst third quarter of cryptocurrency to date was recorded in 2018. At the time, cryptocurrencies were based on a staggering 49%, 49% amid the wider crypto market conflict.
At the time, ETH was particularly hit hard following the explosion of the first coin product (ICO) sector.
The network was suffering from several other issues, including very low adoption rates of distributed applications (DAPPS), and persistence scalability issues.
The best quarter ever
Ethereum scored its highest quarter ever in early 2017, up 518%. This marked the beginning of ICO Bonanza when numerous projects began issuing their own ERC-20 tokens to raise capital. Cryptocurrency had gained traction with developers and institutions.
Of course, such a massive quarterly surge is very unlikely given that Ethereum’s market capitalization is now at $539 billion.
