Ethereum dips over 2% for second session

Ethereum dipped over 2% on Tuesday for the second straight session as most cryptocurrencies lost ground, with their market value hitting one-week lows. 

At Bitstamp, ethereum fell $16, or 2.2% to $682 from the opening of $698, with an intraday high at $699, and a low at $678. 

Ethereum slipped 2.5% on Monday, the first loss in four sessions, with ethereum moving below $700 again. 

Ethereum marked a 1.9% loss last week, the second weekly decline in a row amid renewed concerns about regulatory actions in Japan and South Korea. 

Market value of cryptocurrencies fell $10 billion on Tuesday to a total of $371 billion, with the total value still capped below $400 billion. 

In the US, the Commodity Futures Trading Commission issued a statement that specifies general rules on crypto derivatives and trading. 

The CFTC continue to pioneer in that regard, unlike the Securities Exchange Committee (SEC), which continues to face difficulties taking a decision on whether certain cryptocurrencies could be considered legal tender.