Ethereum closed September with its most robust quarterly performance in over four years, reflecting the explosive benefits it last saw when prices first violated the $4,000 threshold in early 2021.
According to Coinglass data, ETH lost ground in a 5% pullback in September after collecting 48.7% in July and 18.8% in August.
Despite that decline, the token rose 66.6% in the quarter, reaching its all-time high in August, reaching a steady accumulation and new retail activity by the corporate Treasury.
That momentum spurted in October. Encrypted data shows that Ethereum rose another 4% this week to touch the multi-week peak of $4,300, supported by a wider rally that lifted Bitcoin and XRP.
What prompted Ethereum price rise in the third quarter?
The most important factor in Ethereum’s gatherings during the reporting period was the crowd of institutional investors on digital assets.
This is evidenced by a strong influx of nine US-based ETH ETF products from July to August, which brought together roughly $10 billion in fresh capitals. During this period, BlackRock’s ETHA vehicles exceeded $10 billion in assets and management thresholds, becoming the third ETF to reach a milestone in a year.
At the same time, the corporate Treasury Ministry has rapidly expanded its ETH exposure. During the quarter, companies’ ETH holdings rose from around $2 billion to over $23 billion, and digital assets became the industry’s fastest-growing Treasury code.
Given these aggressive purchases from these institutional investors, Bitwise’s Matt Hougan predicted in July:
“ETPS and ETH Treasury companies can (can buy) $20 billion of ETH next year, or 5.33 million ETH at today’s prices.”
Institutional flow, on the other hand, was not the only factor in strong performance of ETH this quarter.
In the third quarter, Ethereum’s on-chain activity surged, reflecting its central role in the debt sector.
Cryptoquant analyst DarkFrost said transaction counts that have hovered between 900,000 and 1.2 million daily over the past four years have now hit highs of 16-1.7 million.
Its growth will closely track ETH price actions and reinforce the view that network activity directly supports assessments.
Token Terminal Data draws a similar image by pointing out that applications built on Ethereum, such as Stablecoins, Dexs, and Real World Assets, currently own user assets of around $355 billion. At the same time, ETH trades at about 1.44 times the total ecosystem locked value (TVL).
According to the company, the market capitalization of tokenized assets on Ethereum is consistently setting the floor for ETH valuation.
Therefore, as more assets from stubcoin to tokenized Treasury enter the chain, ETH market capitalization will rise in ties. This relationship suggests that Ethereum’s growth is not merely speculative, but based on the expansion of utility in the chain.
Ethereum Market Data
When reporting 4:46pm, on October 1, 2025 UTCEthereum ranks second in terms of market capitalization, and the price is above 5.51% Over the past 24 hours. Ethereum has a market capitalization $52.378 billion 24-hour trading volume $4.569 billion. More about Ethereum›
Overview of the Crypto Market
When reporting 4:46pm, on October 1, 2025 UTCCrypto market totals are evaluated by 4.03 trillion dollars There is a 24-hour volume $1889.2 billion. Bitcoin’s advantage is currently underway 58.19%. Crypto Market Details›