Ethereum rises 4% as $300 looms

Ethereum rose over four percent on Friday for the third straight session away from 11-month lows, with prices nearing the coveted $300 anew as most cryptocurrencies recover en masse. 

Ethereum rose $12, or 4.2% to $298, with a session-high at $305, and a low at $285. 

Ethereum closed up 1.8% on Thursday, the second profit in a row, away from eleven-month lows hit on Tuesday at $250. 

Market value of cryptocurrencies rose $9 billion on Friday to a total of $213 billion, after marking $190 billion on Tuesday, the lowest since November 2017. 

Cryptocurrencies regained their footing after recent heavy losses, with new liquidity entering the market, while investors pick up cheap crypto assets. 

In a recent interview with Bloomberg, Ethereum co-founder and ConsenSys Inc. CEO Joseph Lubin said that recent wild swings in crypto prices were driven by "trader types", alluring to speculative traders, conceding that the crypto market experienced a bubble that burst soon afterwards. 

Nonetheless, Lubin believes the current collapse in prices won't stand in the way of growth in blockchain technologies and crypto infrastructure, especially with the recent bubble bringing global interest and investments into the business to an unprecedented degree.