Ethereum’s meteoric rise outshines rivals, fueled by DeFi growth and institutional demand

Ethereum has experienced a stunning surge in value this year, rebounding strongly from early-year losses. This upward trajectory has captivated analysts, prompting them to explore the driving forces behind its resurgence. Since mid-May, Ethereum’s performance against Bitcoin (BTC) has been particularly noteworthy. Notably, ETH/BTC pair experienced a dramatic 32% surge between May 8th and 10th, bouncing back from a significant drop earlier this year. This rebound has garnered attention due to its support level crossings and potential to mark the start of an altcoin season, according to anonymous analyst VirtualBacon.