Ethereum rises over 2.5% off three-week lows

Ethereum rose over 2.5% on Monday off three-week lows hit yesterday, heading for the first profit in five days as most major cryptocurrencies recover. 

At Bitstamp, Ethereum rose $3, or 2.5% to $118, with an intraday high at $118, and a low at $115. 

Ethereum tumbled 7.3% yesterday, the fourth loss in a row, marking three-week lows at $113. 

Ethereum plunged 26% last week, the first weekly loss in a month as a crypto selloff resumed in the market. 

The negative trend was revived after the Ethereum Classic's network was hit by a $1 million hack last week. 

Market value of cryptocurrencies rose $2 billion on Monday to a total of $119 billion, after hitting $116 billion yesterday, the lowest since December 19. 

In Japan, news outlets reported that seven crypto exchanges are expected to receive official licenses from the FSA in two months. 

The current review process usually takes six months from the time of applying for a Japanese license, which includes answering over 400 questions and passing rigorous security checks.