Ethereum price surges more than 19%, market cap increases by $70 billion

According to ChainCatcher, Ethereum prices surged more than 19% on Monday, adding $70 billion to its market value, bringing its total market value to $439 billion. This increase in market value is almost as much as SOL's total market value of about $80 billion. Analysts predict that the gap between ETH and competitors such as SOL will widen further in the coming months. This is mainly because potential spot ETFs will make Ethereum a token adopted by mainstream institutions.