Ethereum jumps by more than 3% to highest level in week

Ethereum price rose by more than 3% in spot trading today, Thursday, continuing its gains for the third day in a row, and recording the highest level in a week, as the world's second-largest cryptocurrency held tight above the $160 level, supported by the recovery of most major cryptocurrencies in the market led by Bitcoin.

As of 10:22 GMT, on Bitstamp Stock Exchange, Ethereum is trading around $171.55, up by $5.09 or by 3.1%, from the opening price of $166.46, with a high of $173.75 and a low of $166.08.

Yesterday, Ethereum gained 0.25%, its second consecutive daily gain, as demand for the world's second-largest cryptocurrency continued to improve.

Whilst, the market value of cryptocurrencies rose more than $2 billion to $180 billion on Thursday, with most of the major currency prices on the market climbing.

Whilst last week, the market value was at $186 billion, the highest level since November.

Most of the major cryptocurrencies in the crypto market continue to climb for the third day in a row, led by the Bitcoin, with the uptrend driving the price, with prices holding onto the recent rally amidst the positive atmosphere that currently dominates the market.

Japan's financial services agency FSA is in the process of issuing new rules for cold-storage wallets to store cryptocurrencies on encryption exchanges, Reuters reported on Wednesday, April 17th.

According to Reuters, Japan's regulatory body will need cryptocurrency exchanges to strengthen the internal control over cold-coded asset portfolios,"non-Internet-connected offline storage devices provided for storing cryptocurrencies."

By applying the new rules, the regulator will address the difficulties of ensuring the security of cryptocurrencies and other risks, as Japan intends to promote the high-tech industry to stimulate economic growth.