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Ethereum Outpaced Bitcoin in March as Traders Reached for Higher-Beta Exposure

Investor interest shifted to Ethereum on stronger on-chain use plus tighter supply.

Overview

  • In March 2026, Ethereum rose about 7.12% versus Bitcoin’s roughly 1.8%, and ETH’s market value grew about 2.97% as BTC’s slipped around 0.4%.
  • ETH’s realized volatility was near 62.8% versus Bitcoin’s roughly 49.8%, a sign Ethereum moved more when market liquidity picked up.
  • Network use climbed to records, with a seven-day average of more than 1.3 million transfers and more active addresses across DeFi, stablecoins, and tokenization.
  • Exchange balances of ETH fell through March, pointing to coins moving into long-term storage and less near-term selling pressure.
  • Higher transaction fees burned more ETH under its fee-burn design, the Coinbase premium stayed negative but narrowed, and a roughly 0.94 ETH–BTC correlation means broader conditions will determine whether the recent edge persists.