Ethereum rises over 5% alongside major cryptocurrencies

Ethereum rose over 5% on Wednesday after a hiatus from gains yesterday, moving away from three-week lows following some upbeat news. 

At Bitstamp, Ethereum rose $6, or 0.5% to $126, with a session-high at $127, and a low at $119. 

Ethereum slumped 6.25% yesterday after a 7.3% surge in the previous day away from three-week lows at $113. 

Market value of cryptocurrencies rose over $3 billion on Wednesday to a total of $122 billion. 

In Malaysia, the finance ministry announced the new regulations for cryptocurrencies and ICOs have become effective starting January 15. 

The regulations stipulate the need for an official license for crypto service providers and exchanges, with official authorities working with the central bank to ensure the following of the new rules. 

Otherwise, Binance has decided to expand in European markets by launching a new platform that uses European currencies in crypto exchanging. 

The company will launch a new platform called Binance Jersey to trade cryptocurrencies such as Bitcoin and Ethereum versus euro and sterling.