According to TechFlow, Matrixport published an article stating that the price of Ethereum recorded its largest single-day increase in history on May 20, due to the possibility that the SEC may approve the Ethereum ETF.

The previous biggest increase was in May 2021, when DeFi transaction volume was the highest and Ethereum staking was hot. The two big increases in 2024 were policy-driven and related to the SEC and FOMC meetings.