In May, Ethereum (ETH) outperformed Bitcoin due to enthusiasm around the approval of the Ethereum spot ETF. Market analysts highlight whether this outperformance will continue.
The SEC’s recent approval of key changes to spot Ether ETF rules has boosted Ethereum’s share price, but analysts expect demand for these ETFs to be modest compared to Bitcoin.
During May, the world’s second largest cryptocurrency, Ethereum (ETH), dominated over its top rival, Bitcoin. Thanks to the enthusiasm of the cryptocurrency community for the approval of the Ethereum ETF.
Lately, however, both Bitcoin and Ethereum seem to have been consolidating for a while. Bitcoin’s price has been finding ground around $68,000 before making the next move.
The BTC price has been fluctuating around this level for nearly two months after it hit an all-time high of $74,000 amid strong interest in exchange-traded funds (ETFs).
On the other hand, Ether (ETHUSD), the second-largest cryptocurrency, rose 1% to $3,768,
