Ethereum Outperforms Bitcoin in Recent Trends

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Crypto News

Ethereum Outperforms Bitcoin in

What’s Driving Ethereum’s Surge?

Why Is the ETH/BTC Ratio Significant?

Key Takeaways

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Ethereum (ETH) has shown impressive performance against Bitcoin (BTC), reaching a notable level, which might spark an altcoin boom. Since mid-May, Ethereum has outperformed Bitcoin, propelled by speculation regarding the approval of spot Ethereum ETFs in the United States.

What’s Driving Ethereum’s Surge?

Following the announcement of the potential approval of Ethereum Spot ETFs, Ethereum’s price surged. The ETH/BTC pair currently stands at 0.056, marking a significant rise for Ethereum. Despite Bitcoin finding strong support at $67,000, discussions suggest a potential dip to $65,000. Meanwhile, Ethereum trades around $3,800 amid heightened market activity.

Since May 15, Ethereum has seen a 30% increase, compared to Bitcoin’s 9% rise. This strong performance led to the ETH/BTC ratio hitting $0.05854 on May 23, the highest in two weeks, indicating a 31% increase.