Bitcoin is closing in on record territory.

The cryptocurrency trades up 2.1% at $US2,573 a coin as of 7:03 a.m. ET. The early advance has bitcoin on track for its best close ever. It would need to top $US2,799 to put in its best print of all-time.

Monday’s advance comes absent of any real catalyst. The bid seems to be a continuation of the gains that developed late last week after China’s three biggest bitcoin exchanges announced they were allowing customers to begin withdrawals for the first time since February. At the time, bitcoin was threatening its record high of $US1,161 a coin before plunging more than 10% on the news.