Tom Lee Called Ethereum September FOMO In August. ETH Is Up Over 50% Since

Ethereum is up about 58% in the third quarter, putting it on track to snap its first-ever three-quarter losing streak.

• Ethereum is on track to snap a record three-quarter losing streak after falling since the fourth quarter of 2025.
• Bitmain chairman Tom Lee expects crypto, particularly Ethereum, to see strong FOMO into the year-end.
• Lee expects institutional inflows and a potential CLARITY Act  passage to support a strong fourth quarter for crypto. 

Ethereum (ETH) is set to break its longest losing streak on record, a prediction Bitmine Immersion (BMNR) chairman Tom Lee already made back in August.

The second-largest cryptocurrency fell by nearly 29% in the fourth quarter of 2025, roughly 30% in the first quarter of 2026, and nearly 26% in the second quarter, according to Coinglass data. 

This made it three quarters in a row where the asset ended in the red. The longest streak of quarterly drops has never lasted more than two years. Ethereum has had back-to-back quarterly losses four times before: in 2018, 2019, 2022, and 2024. Each time, the next quarter was positive. It ended the streak.

The current quarter has turned around quickly. Ethereum is up nearly 58% so far this quarter, compared to an average return of 12% and a median return of 10% for the third quarter. However, the gain is not permanent, as the month still has more than two weeks to close out the quarter.