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ETH rose 70% in the third quarter, outperforming BTC’s 42% gain over the same period, but its market liquidity declined, according to a CoinGecko report.
From July 6 to Sept. 30, the median daily Market Depth for ETH, a measure of liquidity, stood at just 35% to 45% of BTC’s level. That marked a sharp drop from the same period last year, when the ratio remained at no less than 60%.