Coinglass data shows that thanks to the U.S. SEC’s approval of the Ethereum ETF’s 19-b filing, the price of Ethereum experienced a significant increase in May, with an increase of nearly 30%, marking the best monthly performance since February (up 46%) .
Historical data from Coinglass shows that May is typically Ethereum’s strongest month, with average gains of 31%.
In contrast, Bitcoin has also shown positive momentum, rising more than 12% in May as it attempts to recover from a 15% drop in April. Historically, Bitcoin prices have typically had a mediocre month in June, with average gains of just 0.25%, Coinglass data shows.
Given the current trends and narrative favoring Ethereum, Ethereum will likely continue to outperform Bitcoin as the ETH/BTC ratio remains positive year-to-date, indicating that Ethereum’s dominance is shifting.