Bitcoin, Ether, XRP were rising. Companies such as Strategy, GameStop, Coinbase, and Robinhood have benefited from rising prices.

Both cryptocurrencies have been riding a wave of risk-on sentiment and growing institutional interest, but analysts say ether ETHUSD may have the stronger tailwind. The second-largest cryptocurrency has emerged as a prime beneficiary of this summer’s favorable regulatory shifts for the crypto industry, they noted.

Bitcoin nearly hit an all-time high on Monday as demand from commercial treasury buyers and established investors lifted the digital asset market overall.