Bitcoin and Ether are both trading within a whisker of all-time highs as investors pile into the two largest cryptocurrencies, with a recent wave of demand favoring the latter.

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.