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Ether outperformed bitcoin in the third quarter, rising about 70% versus bitcoin's roughly 42% gain, but CoinGecko reports that ether's market liquidity thinned relative to bitcoin over the period. The median daily market depth for ether between July 6 and Sept. 30 was only 35%–45% of bitcoin's, a notable decline from at least 60% in the same period a year earlier.
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