Ethereum Dominance Surges by Over 25% in Q3 as ETH/BTC Ratio Hits Record High
Ethereum's dominance has surged by over 25% in Q3, making it the strongest quarter on record. The ETH/BTC ratio has also increased by 25%, with Ethereum approaching a 0.03 resistance area.
Bitcoin's weakness is seen as a contributing factor to Ethereum's outperformance, with some analysts attributing the rotation into ETH and higher beta assets. Bitcoin's dominance grew by 1.5% on a quarterly basis, while Ethereum's dominance rose over 25%. This implies that investors are seeking higher returns, with recent ETF inflows supporting this trend.
One analyst expects Ethereum to outperform Bitcoin once the market flips risk-on driven by on-chain and technical factors. With ETH already leading Q3 with a 58%+ ROI, some question whether growing FOMO is setting the stage for Ethereum's most bullish Q3 in crypto history.