Ethereum's Market Cap Increase Yesterday Nearly Matches the Total Market Cap of SOL Token, Gap May Continue to Widen
PANews reported on May 22, according to CoinDesk, TradingView data shows that the price of Ethereum surged by more than 19% on Monday, increasing its market value by $70 billion, bringing the total market value to $439 billion. This is equivalent to nearly 90% of SOL's market value added in just one day. Analysts suggest that with the potential launch of a spot ETF, the gap between Ethereum and its competitors like SOL will widen in the coming months, as this will make Ethereum more favored by mainstream institutions. So far, only Bitcoin has enjoyed such a privilege.
As of press time, Ethereum is the world's second-largest digital asset, with a market value of $453 billion, second only to Bitcoin's $1.38 trillion. Meanwhile, Solana ranks fifth with a market value of $82 billion.
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