The last third party to survive is the Republican party. Its one of them things wherein there were actually politicians who had grown a couple and a spine to boot.
We have a 2 party system. 3rd parties have been tried, time and time again. There are several right now, Green, Libertarian, Socialist, Communist, etc. All failed, basically because they are endeavors of extremist groups that, in the end, don't get the support of the middle.
What 3rd parties really do well is to suck votes away from the established parties in elections. There are some, for instance, that blame suck for Hillary's loss. In the current political system a third party would, absolutely, guarantee another Trump term.
In the current environment the Dems are the most likely to spawn a 3rd party effort as there are little groups of true believers who seemingly can't stand the idea of giving an inch on ANYTHING. From my viewpoint these folks are very like the current Republican party and its a shame.
In our entire existence as a nation I cannot think of a single third party that has ever built themselves from the ground up unless one is counting the original Republicans.
So called Green, Libertarian, Socialist, Communist, etc. have all been doing the same idiotic thing forever, running a POTUS candidate, then going into hibernation for 3.5 years and then repeating all over again.
My daughter, at age fourteen, complained that the only jobs she'd ever be able to get when she was old enough would be all at the bottom. She could not understand why one couldn't start at the top.
One would think an independent third party would have more wisdom than a petulant entitled fourteen year old girl (who by the way just got her second promotion and raise - she DID learn eventually!)
Unless and until an independent third party does the GENERATIONAL work needed to BUILD, they will continue to do that one thing - - SUCK!