Ethereum Was the Best Major of the Last Quarter at 57% and Still Sits 46% Below Its High. Is $3,000 the Next Stop?
Ethereum crushed every major crypto last quarter, but a single price level stands between it and a milestone that would erase its 2026 losses. Whether the upcoming Glamsterdam network test pushes it there or sends it sliding could decide when…
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In the third quarter of 2026, Ethereum (CRYPTO: ETH) outperformed other major cryptocurrencies, climbing approximately 57%. It now needs to rise about 11% to reach $3,000. However, as of September 30, Ethereum was still 46% below its record high of $4,946 set on August 24, 2025.
Trading at $2,706 on October 1, Ethereum has fluctuated between $2,564 and $2,807 since September 20. The big question now is—can Ethereum reach $3,000 in the near future, or is the momentum from this past quarter fading?
Ethereum Outperformed Solana, XRP and Bitcoin in the Third Quarter
Over the last 90 days leading to September 30, Ethereum’s impressive 57% rise surpassed Solana (CRYPTO:SOL) at 48%, XRP (CRYPTO:XRP) at 37%, and Bitcoin (CRYPTO:BTC) at 36%. This performance occurred even as Bitcoin aimed for its first winning quarter in a year. A $1,000 investment in Ethereum at the beginning of July would be worth about $1,573 by the end of September, compared to approximately $1,359 in Bitcoin.
One of the biggest price jumps occurred on August 19, when Ethereum opened at $1,917 and closed at $2,252, a one-day gain of roughly 17%. This surge also reflected the highest trading volume for the quarter. The sharp rise in buyers shows Ethereum led this rotation, and rotation leaders often maintain momentum until buyers shift their focus elsewhere.
Ethereum Needs About 11% to Reach $3,000, Close to Where It Started 2026
Ethereum began 2026 near $2,970 and is still down about 9% for the year. Reaching $3,000 would not only mark a return to January prices, but it would also make this year positive for the coin.
However, for Ethereum to hit that pivotal $3,000 mark, it first needs to surpass $2,807, the high from September 21—about 4% above the current price. On the downside, the September 20 low of $2,564 is about 5% below the current trading level.
Ethereum’s large market capitalization complicates its price movements. With around 122 million ETH in circulation, a jump from $2,706 to $3,000 would add about $36 billion to its market value—significantly larger than a similar percentage increase for smaller cryptocurrencies. Additionally, Ethereum-related ETFs saw an influx of $824 million one week, but experienced outflows in early September.
Glamsterdam’s October 6 Test Could Lift Ethereum, but Treasuries Pay 5.17%
![A golden physical Ethereum cryptocurrency coin is centered in the foreground, with its reflective surface. The coin features the Ethereum logo, '[ETH]', and text like 'DECENTRALIZED PLATFORM THAT RUNS SMART CONTRACTS'. In the blurred background, a stack of gold and silver coins is visible. The primary background is a vivid blue, showing a out-of-focus financial chart with green and red candlestick patterns and a light blue upward trend line.](https://247wallst.com/wp-content/uploads/2026/05/shutterstock-2131301131-huge-licensed-scaled.jpg)
On October 6, Ethereum’s upcoming network upgrade, Glamsterdam, is set to be tested on Sepolia, a test network where developers work through upgrades with tokens that hold no real value. However, there is currently no established mainnet date for this upgrade, meaning buyers have a rehearsal date but no clear launch timeline.
Investors also need to consider competition from traditional bonds, as the 10-year Treasury yield was at 5.17% on September 25. In this scenario, $10,000 in Treasuries would yield about $517 annually, whereas Ethereum holders can earn only through price appreciation unless they stake their coins.
Can Ethereum Reach $3,000 as Its Next Stop?
$3,000 seems to be the most likely next target for Ethereum, given that it led the majors last quarter, and reaching that price would simply mean returning to its January level. However, Ethereum must first close above $2,807, the September 21 high.
The potential challenge is that the upcoming Glamsterdam test could shape market sentiment. If Ethereum closes above $2,807 following the October 6 test, reaching $3,000 could be within grasp before year-end. Conversely, if it drops below $2,564 first, the journey to $3,000 could push into 2027.
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Sam Daodu is a crypto analyst who's spent nearly a decade making blockchain understandable—no easy task when most whitepapers read like fever dreams. He writes for 24/7 Wall St., covering Bitcoin, altcoins, and crypto market analysis for investors. Before crypto, he was a tech writer (back when explaining "the cloud" was peak innovation). Since 2018, he's written for CoinTelegraph, Yahoo Finance, The Block, Cryptonews, Zypto, Rain, and more—basically anywhere people want crypto news without the headache. Sam runs MacLabs Marketing, a content agency for crypto brands tired of sounding like AI wrote their website. He also publishes free crypto education on his site for Web3 enthusiasts who think "gas fees" is a typo. When he's not writing or staring at charts, Sam's either: - Watching anime (currently convinced One Piece has better tokenomics than most altcoins) - At the gym sculpting himself into a Greek god - Listening to the music your mum warned you only bad boys listen to Connect: LinkedIn | Email | MacLabs Marketing
