Ether Flips the Script: Spot ETF Hopes Fuel Rally Against Solana
- Ether Surges on ETF Hopes, Threatening Solana’s Dominance
- Analysts Sharply Increase Ether ETF Approval Odds
- Ethereum’s Strengths Mitigate Solana’s Gas Fee Woes
Market analysts who predicted Solana (SOL) would eclipse Ether (ETH) in the coming bull run are facing a reality check as ETH stages an impressive surge.
Monday saw Ether notch gains exceeding 19%, propelling its market capitalization by a hefty $70 billion. This surge brings ETH’s overall market cap to $439 billion, nearly matching 90% of Solana’s total market value.
This price increase is fueled by renewed optimism surrounding the potential approval of a spot Ether ETF in the US. Analysts have sharply revised their approval forecasts upwards, from 25% to a much more bullish 75%.
Market experts believe a spot ETF would be a game-changer for Ether, attracting a wave of institutional investment and propelling it past competitors like Solana. Currently, Bitcoin enjoys this privilege as the only cryptocurrency with a launched spot ETF. Ether has a market cap of $453 billion, trailing Bitcoin as the second-largest cryptocurrency. Solana, on the other hand, ranks fifth with a market value of $82 billi…
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