Ethereum backs off week high on profit-taking

Ethereum fell on Tuesday for the first time in five days on profit-taking after marking week highs earlier, with the losses curbed by improved investment demand on crypto assets amid a string of positive news for the market. 

At Bitstamp, ethereum shed $10, or 2.1% to $468 from the opening of $478, with an intraday low at $465, and the highest in a week at $482. 

Ethereum rose 6.5% on Monday, the fourth daily profit in a row as new liquidity entered the markets with bargain hunters lured by low prices. 

Market value of cryptocurrencies fell a billion dollar on Tuesday to $269 billion, after touching $273 billion earlier in the session, the highest since July 9.

BlackRock to Invest in Crypto? 

BlackRock, the world's biggest assets manager, is reportedly looking into investment options in cryptocurrencies and blockchain technologies. 

Financial News reported that BlackRock formed a team from various units at the company to look into cryptocurrencies, with an eye on investing in Bitcoin futures in particular. 

The news were a surprise for many, after BlackRock CEO Larry D. Fink attacked cryptocurrencies and Bitcoin previously, calling out their use in money laundering operations.