The price of the digital currency " Ethereum " rose more than 8% in spot transactions on Tuesday on its way to the first gain in three days, recovering from a six-week low recorded earlier in the day and with prices holding above the support barrier Psychological at $ 500 per unit of Ethereum .

At 12:30 GMT, the digital currency is trading around $ 554, up $ 42, or 8.2%, at $ 512 opening at $ 565 and a low of $ 510.

Ethereum dropped on Monday by 10 percent, the second daily loss in a row, recording a six-week low of $ 506 per unit of Ethereum .

The market value of digital currencies on Tuesday rose by about $ 17 billion to $ 324 billion and fell earlier to $ 303 billion, the lowest level since April 12.

The sales were temporarily closed on the digital market, especially after news from South Korea, the world's third largest digital asset market.

The National Assembly of South Korea, the government's "legislative arm," has reportedly sought to lift the country's ban on initial currency offerings and encryption.

Korean regulatory authorities had banned the sale of the initial codes in September 2017, saying they were over-speculative and in violation of the country's capital market law.

According to South Korean media, the National Assembly has formally proposed legislation to allow initial currency offers as long as protection is provided to investors. The association has also recommended the formation of a working group to better transparentize the country's digital currency transactions and help develop the coding industry.