Ethereum rises more than 1.5% and rebounds from 2-week low

Ethereum price rose by more than 1.5% in spot trading today as it rebounded from its two-week low recorded earlier in the day, 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.

On Bitstamp Stock Exchange, at 12:22 GMT, Ethereum is trading around $162.35, up by $ 2.43 or by 1.5%, from the opening price of $159.92, with a high of $163.76 and a low of $159.47.

Ethereum yesterday lost 4.8%, the fourth loss in the last five days, and recorded a two-week low of $156.02 per unit.

Ethereum, the world's second-largest cryptocurrency, lost 4% last week, its first loss in three weeks, as correction and profit taking accelerated from a five-month high of $187.26 per unit.

The market value of cryptocurrencies rose more than $2 billion to $173 billion on Tuesday, with most of the major currency prices on the market climbing.

Currently, Ethereum is holding above the $160 barrier, supported by its rebound from a two-week low, as well as the rebound in most of the major currencies in the market led by Bitcoin.

On the other hand, the addition of the Japanese Coincheck Stock Exchange of two cryptocurrencies to be traded by Over-The-Counter (OTC) exchange allows institutional customers to exchange those currencies on a large scale.

The Coincheck stock exchange, which started operating Bitcoin OTC at the beginning of the current month, now offers Ethereum and Ripple to be traded in Over-The-Counter (OTC) Market trading.

OTC offices provide specialized services for large-scale traders, allowing them to save on fees and avoid many of the obstacles to buying or selling large crypto investments across standard routes.