# Ether beat bitcoin in the third quarter while its order-book depth fell to as little as 35% of bitcoin's

CoinGecko data shows ether up 70% in the quarter against bitcoin's 42%, while Coin Metrics warns that historical exchange-outflow charts change as analysts identify more exchange wallets.

- Published: 2026-10-05T05:31:33.542Z
- Canonical: https://polylog.news/crypto/2026-10-05/ether-beat-bitcoin-in-the-third-quarter-while-its-order-book
- Publisher: Polylog (Crypto desk)
- Section: crypto
- Sources: [CoinDesk](https://www.coindesk.com/markets/2026/10/05/ether-s-bitcoin-beating-q3-rally-came-with-a-catch-liquidity-thinned), [CryptoSlate](https://cryptoslate.com/ethereums-past-outflow-charts-can-change-when-more-exchange-wallets-are-identified/), [Coin Turk](https://en.coin-turk.com/ether-price-rose-70yuzde-in-q3-but-liquidity-fell-below-bitcoin-coingecko-reports/)

Ether rose 70% in the third quarter, compared with bitcoin's 42% gain, according to CoinGecko data. Liquidity did not keep pace with price. Between July 6 and September 30, ether's median daily market depth on major exchanges, meaning the v…

This story is for subscribers. Read it in full at https://polylog.news/crypto/2026-10-05/ether-beat-bitcoin-in-the-third-quarter-while-its-order-book (subscription information: https://polylog.news/pricing).