Cryptocurrency Ethereum climbed over 5 per cent on Monday to $2,523 but remained more than 40 per cent below a record high of above $4,300 hit earlier this month.

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

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

Bitcoin has been less volatile in recent days but is down by more than 35 per cent 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.