ETH Price Surged 17% as Capital Shifted from Bitcoin to Ethereum in Q3 2023 - CoinGecko Crypto Report

According to the latest CoinGecko market report, Ethereum (ETH) demonstrated remarkable performance during the third quarter of 2023, recording an impressive 17% price surge. The comprehensive crypto market analysis reveals a significant capital rotation trend where substantial investment flows moved away from Bitcoin (BTC) toward the Ethereum ecosystem. This strategic capital migration occurred despite ongoing regulatory challenges and macroeconomic uncertainties affecting the broader cryptocurrency market. The quarterly report highlights Ethereum's growing dominance in the decentralized finance (DeFi) sector and its strengthening position as the leading smart contract platform, attracting both institutional and retail investors seeking alternative crypto investment opportunities beyond Bitcoin.