Ethereum

Solana

Stellar

<h2 id="key-points">Key Points</h2>
<ul>
 <li>Ethereum [ETH] and Solana [SOL] experienced the highest increases in May.</li>
 <li>ETF spot approval for ETH and rumored SOL spot ETF proposal influenced this surge.</li>
</ul>
<h2 id="ethereum-and-solana-top-the-gainers-list">Ethereum and Solana Top the Gainers List</h2>
<p>A recent market analysis revealed that <a href="https://coineagle.com/price/ethereum/" rel="noopener noreferrer nofollow">Ethereum</a> [ETH] and Solana [SOL] had the most significant market gains in May.</p>
<p>Crypto Rank’s report showed moderate overall market growth, but ETH and SOL stood out with considerable price increases.</p>
<p>SOL’s increase was 30.1%, and ETH’s increase was 24.68%, making them the top gainers.</p>
<p>These gains contributed to a shift in market sentiment from neutral to positive.</p>
<h2 id="what-drove-the-price-increases">What Drove the Price Increases?</h2>
<p>The main catalyst for Ethereum’s price surge was the approval of its spot ETF.</p>
<p>This approval is seen as an influx of extra liquidity into the market and is expected to increase demand for ETH, positively impacting its price.</p>
<p>Solana, considered a significant competitor to Ethereum, also surged on rumors of a potential SOL spot ETF, despite no proposal being submitted yet.</p>
<h2 id="price-trends-for-sol-and-eth">Price Trends for SOL and ETH</h2>
<p>Solana’s price trend in May showed consecutive uptrends, despite some declines towards the end of the month.</p>
<p>Solana’s price was approximately $134.54 at the start of May and closed the month at around $165.58, despite a 0.8% decline.</p>
<p>At the time of writing, Solana was trading at around $153, a decline of over 3%, and was trading below its short moving average.</p>
<p>Ethereum’s price trend in May started with a decline of over 1%, trading at around $2,970.</p>
<p>However, a significant increase of 19.23% on 20th May took its price to over $3,600.</p>
<p>By the end of May, ETH was trading at around $3,760.</p>
<p>At the time of writing, ETH was trading at around $3,519, experiencing a decline of over 4%.</p>
<p>Despite significant declines in June, it remained above its short moving average, which continued to serve as support around the $3,300 price level.</p>

Ethereum and Solana Soar: Unpacking May’s Stellar Crypto Market Performance

Table of Contents

CoinEagle.com

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