Ethereum prices have been on track for the strongest third quarter since the network was launched in 2015, driving forecasts that have so far earned 83% and could reach $7,500 at the end of the year.
summary
- Ethereum prices have been on track in the strongest third quarter since 2015, already up 83%, compared to a historic median of 8.19%.
- The institutional inflow is sparking momentum, with ETH funds dated $11 billion a year, with US SpotETFs exceeding $23 billion.
- Network upgrades like Pectra have reduced rollup costs and increased the pile ETH to 35m (29% of supply) and strengthened the basics.
- Analysts predict that Ethereum could rise from $6,000 to $7,500 if demand for ETFs is held, but key support is close to $4,350.
Ethereum prices are heading towards the third quarter, the highest since its inception
Ethereum (ETH) prices have been on track in the most profitable third quarter since the network was unveiled in 2015.
Coinglass data shows that ETH already provided more than 83% returns in the third quarter of 2025, well above the historic median of 8.19%, almost 10 times the long-term average of 9.3%.
Ethereum Quarterly Returns | Source: Coinglass
The other 3rd quarters have not reached this level. The closest came in 2020 when ether rose 59.5% and climbed 31.86% in 2021.
The rally began in July, with Ethereum rising 49% in a month, marking its best performance since July 2022.
That momentum briefly touched on $4,946 on August 25th, and was carried in November 2021 when it surpassed the best ever set. At the time of writing, ETH has fallen more than 8% from its peak, trading around $4,550.
ETH Price Chart | Source: crypto.news
Price action is particularly impressive considering the seasonal record for Ethereum. Of the last nine quarters, six have been closed in negative territory.
The third quarter of 2018 saw a 48.69% decline, and the third quarter of 2019 fell 37.43%, with the third quarter managing only a modest profit of 24.09% after a sharp loss earlier in the year. Against this background, 2025 has broken the pattern for many years.
History also shows that a strong third quarter often sets the stage for further profits.
In 2017, ETH has tripled over the next six months after rising about 27% in the third quarter. In 2021, the third rally of 31.86% was followed, increasing the token to around $4,900 by November from around $2,300 in late September.
Of the vast majority of Ethereum pricing activities, the current issue is:
Placement Behind Flows, ETFs and Ethereum Prices
Institutional influx was a critical feature of Ethereum’s price performance in the third quarter of 2025.
Coinshares data shows that the digital asset fund recorded an inflow of $3.75 billion in the week ended August 15th. Ethereum-Linked products accounted for $2.87 billion of that amount, or 77% of the total.
By mid-August, the year-to-date inflows into Ethereum funds had reached $11 billion, supporting managed assets across multiple providers.
The United States was a key driver of this momentum. The US-listed Spot Etherum ETF has attracted a net inflow of $7.1 billion this year, reaching $5.3 billion in the past month.
Ishares Ethereum Trust expanded its assets from under $2 billion in mid-April to $13 billion. Total US-registered ETH ETFs now hold more than $23 billion, creating a stable base of demand that is not present in previous cycles.
At the same time, call activity continues to outweigh demand, suggesting investors are focusing more on upward exposure than downside protection.
Along with these inflows, the fluidity has also improved. The bid spread for major exchanges is narrower than in early 2025, reflecting deeper engagement from both ETF and derivative traders.
Together, we record ETF influx, and show why increased futures exposure, centralized call option activity is the driving force behind Ethereum’s most powerful third quarter performance to date.
Ethereum price formation fundamentals and upgrades
Network upgrades have played a key role in supporting Ethereum prices this year.
Activated in May 2025, the Pectra upgrade introduced several Ethereum improvement proposals aimed at improving scalability, user experience, and validator efficiency.
Among the most notable is the EIP-7702, which has added features like Account-Abstraction, allowing wallets to operate more flexible without compromising security.
Meanwhile, the EIP-7251 has raised the maximum verification device cap to make it easier to integrate staking operations. The higher the blob target, the lower the transaction costs of the rollups by improving data availability in the Layer 2 network.
These changes already affect usage patterns. The average transaction costs for major rollups, including Arbitrum (ARB) and Optimism (OP), have been declining since May.
Cheaper data storage makes it more practical to scale applications with Ethereum rather than moving them into a competitive chain. According to L2Beat, this shift is reflected in the rise in total amounts protected by Layer 2.
Total value protected by Ethereum L2 | Source: L2Beat
Staking metrics highlight the same trend. Currently, more than 35 million ETH are staked, representing approximately 29% of the circulation supply.
Stakes eth chart | Source: BeaConcha.in
Since the merge in 2022, the staking ratio has steadily risen, indicating a growing confidence in Ethereum’s long-term yield model.
At the same time, publication is approaching neutral. The burn mechanism introduced in EIP-1559 continues to offset new issuances during periods of high activity, bringing net supply growth closer to zero.
Development has already shifted towards Fusaka, the next upgrade expected towards the end of 2025. Key proposals include Peerdas, a distributed data sampling system designed to further reduce the cost of rollups.
When delivered on schedule, these changes reduce developer costs and enhance Ethereum’s position as the base layer of distributed applications.
Ethereum price forecast and technical analysis
Ethereum prices have been consolidated after setting a new high. Market analyst Ted Pillows said Ether is currently testing a support level of $4,560. If this zone fails, the next key level is close to $4,350, and the buyer had previously intervened.
$eth is dumping and is currently testing support of $4,560.
If Ethereum wasn’t kept here, then $4,350 in support is next.
It doesn’t look that strong at this point. Let’s see what today brings. pic.twitter.com/ps0coyrsvr
– Ted (@tedpillows) August 25, 2025
At the same time, Standard chartered on August 13th, increasing ETH’s year-end target from $4,000 to $7,500.
Technical analysts point out that sustained movements beyond the $5,000 zone can open up ways to go from $5,500 to $6,000 in the short term, and higher predictions are possible if the inflow is held firmly.
The challenge is volatility. A massive daily ETF withdrawal or a broader macroeconomic shock could quickly reverse momentum.
For now, the path ahead rests on the key level. Recovering $5,000 above $4,560 will maintain a case of an unharmed transition of $6,000 to $7,500. However, if you fall below $4,350, you could cause a deeper, short-term fix.
Although Ethereum’s foundations and institutional demands appear to be stronger than in previous cycles, its prices remain volatile and are closely tied to macro terms, capital flows and timelines of upgrades. As always, trade wisely and invest no more than you can afford to lose.