Ethereum rises 5% at $2,509; bitcoin firm By Reuters

Ethereum rises 5% at $2,509; bitcoin firm By Reuters

© Reuters. FILE PHOTO: A representation of virtual currency Ethereum is seen in front of a stock graph in this illustration taken February 19, 2021. REUTERS/Dado Ruvic/Illustration/File Photo

LONDON (Reuters) – Cryptocurrency climbed over 5% on Monday to $2,523 but remained more than 40% below a record high of above $4,300 hit earlier this month.

At 0950 GMT, it was trading up 4.1% at $2,495.69.

Larger rival, , the world’s biggest and best-known cryptocurrency, was up 0.8% at $36,987 in quiet trading with London and U.S. markets shut for holidays.

Bitcoin has been less volatile in recent days but is down by more than 35% this month, weighed by growing regulatory pressures on the sector.

It is currently trading at levels last seen in February and at roughly half its peak value of $65,000 seen in April.

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