The crypto market cap surpassed $2 trillion for the first time since mid-May as bitcoin led the rally, according to CoinMarketCap data.

Bitcoin climbed up to $48,048 early Monday, the highest level since May 17, CoinDesk data show.

The world’s largest cryptocurrency is joined by ether and Cardano, which have surged 11% and 53% in the last seven days respectively.

The crypto market cap sank as low as $1.19 trillion on July 20, according to data from CoinMarketCap, meaning the sector has almost doubled in value in less than a month.

After a touching a peak of more than $2.5 trillion on May 12, crypto pulled back and saw a couple of months of downward pressure as the mining crackdown in China took hold.


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