Headline: RuneScape coal outperformed Ether last year, Arkham says — what’s driving ETH now?
A quirky but revealing comparison from on-chain analytics firm Arkham highlights how volatile crypto has been: according to the firm, buying coal in the online game RuneScape a year ago would have beaten holding Ethereum (ETH). RuneScape’s coal climbed from about 150 GP in May 2025 to nearly 300 GP by January 2026, though it now trades closer to 193 GP, per RuneScape.com. Arkham even summed it up with a cheeky tweet noting that coal would have outperformed ETH over the past year.
Why Ethereum lagged
Ethereum — like the wider crypto market — is a risk-on asset and was a standout in 2025, reaching an all-time high of $4,946.05 in August. But sentiment shifted in late 2025 as rising macroeconomic uncertainty and geopolitical tensions pushed markets into a risk-off stance. Since that August peak, ETH has lost more than half its value.
Signs of a rebound — but can it hold?
There are early signs of recovery. CoinGecko data shows ETH up modestly across multiple timeframes: +0.3% in 24 hours, +4.2% over the past week, +3% on the 14-day chart and about +16% in the last month. Part of the lift may be tied to Bitcoin reclaiming the $81,000 level after struggling with resistance in the $78k–$79k zone; BTC often sets the tone for the rest of the market, and renewed momentum there can buoy altcoins like ETH.
Institutional flows are also likely at play: rising ETF and ETP inflows into spot and related products have been credited with amplifying recent crypto rallies, as institutional capital tends to have outsized market impact.
Caveats for investors
Despite the recent uptick, the market remains fragile. Volatility and macro risks could easily reverse gains, and it’s unclear whether the current rally has the breadth and conviction to be sustained. Investors should tread carefully and consider risk management before committing fresh capital.
Bottom line: a reminder that not all returns come from traditional assets — and that even iconic tokens like ETH can lag in turbulent markets.
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