Digital currencies are back on top. While stocks spent most of Monday lower, bitcoin rallied. It’s been hovering above $45,000 for the past few days, helping boost the global market cap for all cryptocurrencies to above $2 trillion for the first time in almost three months, according to data from CoinMarketCap.
While bitcoin’s recovery from less than $30,000 a few weeks ago is propelling that rise, a rebound in the smaller-cap dogecoin has also helped. On Monday, the price of the digital currency rose sharply to around 35 cents, almost double what it was in June, after bullish comments from two of dogecoin’s biggest boosters—Mark Cuban and Elon Musk.