‘Ether Caught Fire’: ETH Surged as Capital Fled Bitcoin in Q3, CoinGecko Report Finds

A CoinGecko report revealed that Ethereum (ETH) surged and hit fresh highs in the third quarter as capital flowed out of Bitcoin (BTC) and into altcoins, DeFi protocols, and tokenized assets, signaling a major shift in investor focus. While the broader crypto market grew significantly, Bitcoin initially led but cooled off by September, allowing ETH to take momentum, driven by ETF demand, interest in tokenized real-world assets, and corporate treasury attention. This shift was characterized by increased trading volumes across exchanges, a resurgence in meme coins and DeFi, and a decline in Bitcoin's overall market share. Furthermore, Bitcoin's price movement decoupled from the S&P 500 for the first time in over a year, suggesting market fragmentation, even as the mining sector saw high hashrates.

(Source：CoinDesk)