Ethereum is enjoying its strongest third quarter on record, rising 13% in the first 20 days of August and advancing from $1,386 in April to $4,783 last week, within sight of its 2021 peak
Ethereum is enjoying its strongest third quarter on record, rising 13% in the first 20 days of August and advancing from $1,386 in April to $4,783 last week, within sight of its 2021 peak. The token’s outperformance comes as broader risk appetite improves despite lingering macroeconomic headwinds such as sticky U.S. inflation.
Institutional interest appears to be accelerating: open interest in CME’s Ether futures climbed to an all-time high of roughly $8.3 billion on 20 August, and aggregate ETH futures volumes also set new records this week. The surge suggests that professional traders are increasing exposure to the second-largest cryptocurrency as volatility and liquidity in the asset deepen.
Ethereum’s strength has eroded Bitcoin’s market share, with BTC dominance slipping to 59% from 65% over the past two months, according to Bitfinex data. The rotation of capital into Ether and other higher-beta tokens underscores investors’ growing willingness to move down the risk curve in search of higher returns.
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