Ethereum falls for second straight session as cryptocurrencies retreat

Ethereum fell on Monday for the second straight session as most cryptocurrencies lost ground due to weak of investment demand and lack of incentives to buy. 

At Bitstamp, Ethereum fell $1, or 1.0% to $201, with an intraday high at $203, and a low at $201. 

Ethereum closed down 0.25% on Sunday, the first loss in three days as demand slowed down anew on the world's second largest cryptocurrency. 

Ethereum marked a 5.8% profit last week, the first weekly profit in a month after the Tether cryptocurrency was heavily sold in favor of larger cryptocurrencies in the market. 

Market value of cryptocurrencies fell a billion dollars on Monday to a total of $208 billion as most cryptocurrencies lost ground. 

Otherwise, in remarks to the New York Times, Bank of Japan Deputy Governor Masayoshi Amamiya expressed his skepticism towards the use of cryptocurrencies in an official manner. 

Amamiya doubted that global central banks would opt to use virtual currencies as they lack the ability to improve current financial infrastructure, and asserting the BoJ has no plans to issue cryptocurrencies.