Ethereum is Having its Best Q3 in All of History

Ethereum (ETH) price has grown significantly in the last few weeks, with the coin registering multiple highs in a short period. Also, its market capitalization crossed the $500 billion psychological mark after several years of having only Bitcoin at this level. Judging by this outlook, it is safe to say that Ethereum is having its best year ever, more specifically, its best Q3 yet.

Ethereum Overcomes Slow Market Status 

For the longest time, the ETH price struggled below $3,000, keeping its investors at a loss for quite a while. 

However, it kick-started a recovery recently, taking the broader crypto market by surprise. The second-largest cryptocurrency by market cap started its positive momentum by first breaking through $3000, and in no time, it had made a run for $4,000 level. 

By the time Ethereum eventually went past $4,000, which was the first time since December  2024, analysts were already talking about the price reaching $10,000 in the same market cycle. Currently, ETH is eyeing the $5,000 price level, supported by certain transaction activities in the ecosystem. 

ETH Records Massive Improvement in its Market 

At press time, the altcoin was trading at $4,533.64, corresponding with a 2.85% rally within the last 24 hours. Its market cap was at $546.49 billion. 

A significant percentage of Ethereum growth can be attributed to strong institutional demand, policy changes, as well as massive inflows into spot Exchange Traded Funds (ETFs). 

Even before now, investors believed that these factors could drive Ethereum to new record highs. BitMine Immersion Technologies recently added 317,000 ETH, valued at about $4.9 billion, to its holdings.

Spot ETH ETFs See Consecutive Inflows 

As of August 14, these Ethereum ETFs had recorded their eighth day of consecutive inflows, a winning streak that reflects the increasing confidence in the coin’s long-term potential. SoSoValue noted that Grayscale, BlackRock, and Fidelity pulled in a combined inflow of $639.6 million. 

BlackRock’s iShares Ethereum Trust ETF (ETHA) was leading the funds with approximately $520 million in inflows, followed by Grayscale and Fidelity, which saw only $61 million and $57 million in inflows, respectively. 

Invesco Galaxy only recorded about $2.3 million in inflows in its ETH ETF. With more institutional demand, Ethereum may achieve a new high very soon.