Ethereum rises 8% from two-week low

Ethereum rose over 8% on Friday away from two-week lows hit earlier, on track for the first profit in four days as risk appetite returns to market. 

At Bitstamp, ethereum rose $65, or 8.1% to $870 from the opening of $805, with a session-high at $878, and a February 11 low at $787. 

Ethereum dipped 4.2% on Thursday as investment demand declined on ethereum in favor of other cryptocurrencies. 

Despite ethereum's solid recovery today, it's still down 5% so far this week, heading for the third weekly decline in a month. 

The market value of cryptocurrencies rose to $450 billion from $417 billion, but still down $61 billion this week. 

In South Korea, financial authorities stated that that government will support cryptocurrency platforms and encourage banks to facilitate their transactions, soothing fears of banning in the world's largest cryptocurrency trading center.  

In France, financial authorities issued official guidelines where they banned publishing cryptocurrency ads without official approval, asserting the need for them to go through all the usual regulatory process that other businesses go through.