Ether Surges 45% in May, Outpacing DeFi Market and Bitcoin
Ether (ETH) has increased by 45% in the past 30 days, outperforming the DeFi market and bitcoin, which rose by 21% and 13%, respectively.
- Institutional interest has driven record inflows from spot ETH ETFs.
- Earlier this year, ETH dropped from $3,340 to $1,472 amid global uncertainty.
- ETH has broken an 18-month downtrend against Solana, regaining control of the DeFi market.
- Total Value Locked (TVL) on restaking protocols like Lido and EigenLayer increased by 41% to 48% this month.
- Binance's staked ether product saw a 63% rise in TVL.
- Solana-based DeFi protocols lagged, with TVL increases of only 7% to 29%.
Increased institutional interest and growth in DeFi protocols have contributed to Ether's recovery.