Ethereum resumed its long decline on Friday after a respite from losses yesterday on short-covering from nine-month lows, heading thereafter to second weekly losses amid mounting concerns over US regulatory curbs.
Ethereum shed $3, or 0.8% to $360 at Bitstamp, with a session-high at $366, and a low at $350.
Ethereum climbed 2.25% on Thursday, the only profit in four days away from nine-month lows at $347.
Market value of cryptocurrencies fell $6 billion on Friday to $226 billion, after marking $219 billion on Wednesday, the lowest since November 17, 2017.
Ethereum is down 11.8% so far this week, heading for another weekly decline as a selloff wave grips the crypto market anew.
Microsoft Launches New Blockchain Product
Microsoft launched a new Blockchain as a Service (BaaS) service that allows enterprises in various industries to use a form of Ethereum blockchain that's been modified for their needs.
Instead of the usual Proof-of-Work mechanism, at which consensus algorithm across the ether supports that network, this new product, called Ethereum Proof-of-Authority on Azure, uses a different approach that relinquishes mining all together to make it more acceptable to businesses.