Ethereum steadied on Tuesday after the death of a South Korean official responsible for monitoring and to some degree combating cryptocurrencies in one of the largest such markets in the world.
At Bitstamp, ethereum inched down to $937 from the opening of $939, with an intraday high at $958, and a low at $927.
Ethereum rose 2.5% on Monday on improved risk appetite in the markets and strong recovery for cryptocurrencies.
Ethereum scored a 12.5% profit last week, the first in three weeks away from two-month lows.
The market value of cryptocurrencies jumped $110 billion last week, however it is still about $320 billion away from the record $830 billion reached in January.
News outlets reported that a chief regulator of cryptocurrencies in South Korea was found dead in his home due to what appears to be a heart attack.
The South Korean police is still investigating Jong Jon’s death, who worked in the government policies coordination office, and who’s responsible for crafting regulations to control the fast-growing cryptocurrency market.