On March 24th, according to Coinglass data, Ethereum experienced its worst start in recent years in the first quarter of 2025, with negative returns for three consecutive months:

January: -1.28% (historical average return: +20.63%, median: +31.92%);

February: -31.95% (historical average return: +11.68%, median: +8.78%);

March: -10.16% (historical average return: +19.55%, median: +9.96%);

This is the first quarter since Ethereum has complete data records in 2017, where it has seen three consecutive months of negative returns. Comparing performance in the first quarter of previous years:

2024: two increases and one decrease (-0.13%, +46.28%, +9.33%);

2023: all positive returns for the quarter (+32.44%, +1.26%, +13.46%);

2022: two increases and one decrease (-26.89%, +8.78%, +12.2%);

2021: all positive returns for the quarter (+78.51%, +8.41%, +34.74%).