Investing.com - Bitcoin prices ticked up on Monday in muted trade, while the price of Ethereum, Bitcoin's closest rival in terms of market cap was little changed.
On the U.S.-based GDAX exchange, Bitcoin rose to $2,754.8, up $36.1 or 1.33%.
Demand for Bitcoin continued to be underpinned after it avoided a split into two independent currencies last week when its network supported upgrading to its software in order to process transactions more quickly.
The upgrade to bitcoin's network will not take place until autumn, according to reports.
Bitcoin prices rallied last week, rising to a high of $2,953.5 on July 19, just shy of its record high of $3,000 set in June.
Meanwhile, Ethereum was almost unchanged for the day at $227.40, remaining well below its all-time high of $419.3.
The pullback in Ethereum from its all-time high has seen its market capitalization fall to $20 billion, well below Bitcoin’s $43 billion, reducing investor expectations that Ethereum would be the alternative digital currency that usurps Bitcoin as the best capitalized cryptocurrency.
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