Data: Ethereum rose nearly 30% in May, marking its best monthly performance since February

According to ChainCatcher news, as reported by CryptoSlate, data from Coinglass shows that Ethereum's price experienced a significant increase of nearly 30% in May, thanks to the approval of the Ethereum ETF application 19-b by the U.S. SEC, marking its best monthly performance since February (which saw a 46% increase).

Historical data from Coinglass indicates that May is typically the strongest month for Ethereum, with an average increase of 31%.

In contrast, Bitcoin also showed positive momentum, rising over 12% in May as it attempted to recover from a 15% decline in April. Coinglass data shows that historically, Bitcoin's price tends to perform flat in June, with an average increase of only 0.25%.

Given the current trends and narratives favoring Ethereum, it may continue to outperform Bitcoin, as the ETH/BTC ratio has maintained positive growth so far this year, indicating a shift in Ethereum's dominance.