Ethereum surpassed Bitcoin in terms of growth in the third quarter of 2025

Ethereum ETH $4,040.33 Bridged Ether (StarkGate) 3.49% Market capitalization $98.08 million VOL. 24 hours $1.83 billion became the main leader of the crypto market recovery in the third quarter of 2025, outpacing bitcoin amid growing investor interest in altcoins, DeFi protocols, and tokenized real assets. This is stated in a new report by the analytical platform CoinGecko. The total capitalization of the crypto market grew by more than half a trillion dollars over the quarter, which was the second consecutive period of significant growth after last year’s correction.

In early summer, bitcoin BTC $107,602.00 Mezo Wrapped BTC 3.33% Market capitalization $36.49 million VOL. 24 hours $2.13 billion maintained its leadership due to demand for spot ETFs and retail investor activity. However, in September, the market’s focus shifted: institutional players and corporate treasuries began to build up positions in Ethereum, which reached a new all-time high before experiencing a short-term pullback. This reallocation of capital indicates structural changes in the crypto economy — investors are increasingly favoring assets that provide functional utility and real income.

The DeFi sector has shown a significant recovery. After two quarters of decline, trading volumes on centralized and decentralized exchanges have risen sharply, and the total blocked assets (TVL) on DeFi platforms have risen to year highs. At the same time, meme tokens and new stable coins such as USDe regained popularity, and several previously little-known projects entered the top thirty by market capitalization.

One of the key trends in the third quarter was the tokenization of real assets, from stocks and bonds to financial products backed by income from the traditional market. The Ondo Finance and Backed Finance protocols received a significant inflow of capital, demonstrating the growing interest in decentralized financial instruments that combine blockchain and the traditional economy. Most of these systems are powered by Ethereum, which has further strengthened its position.

In parallel to Ethereum’s growth, bitcoin has lost market share and its dominance has declined, a sign that investors are actively diversifying their portfolios. At the same time, the crypto market has begun to demonstrate increasing independence from traditional indices, including the S&P 500. Nevertheless, bitcoin miners have maintained profitability: the hashrate has reached an all-time high, and exchange-traded funds focused on mining have shown stable results.

CoinGecko analysts note that the third quarter was a period of transformation for the cryptocurrency market, a stage when innovation, diversification, and technological maturation are redefining the role of Ethereum as the central driver of the next wave of digital asset development.