Cryptocurrency round-up: Leocoin launches amid criticism and London blockchain research

• Bitcoin price: $247.04 (£166.69, €227.06) via CoinDesk.com

Bitcoin and other major cryptocurrency markets have seen positive movement over the past 24 hours following a week of stagnating and declining prices.

Bitcoin's market cap rose by 2%, while litecoin and dogecoin both increased in value by between 1% and 2% since 1 April.

The biggest mover was dash (formerly darkcoin), which surged by 10% to take its market cap back up above $20m.

Leocoin launches amid criticism

A new cryptocurrency has officially launched that claims to be the second-largest digital currency behind bitcoin but critics have warned it could be a "pump and dump".

Leocoin opened its LEOxChange on 2 April, with its developers reporting more than 30,000 merchants have been signed up to accept it.

The list of merchants is yet to be released and no clarity been given surrounding the altcoin's market cap, leading to some cryptocurrency commentators expressing their scepticism of leocoin.

"Leocoin is a good example of what a pump and dump coin looks like," Joel Dalais, director of the digital currency exchange IBWT and blogger at Cryptocoinsnews, said.

"Potentials interested in Leocoin should also be aware that it has in fact been in existence for quite some time already."

UBS to open London blockchain research lab

Swiss bank UBS is to open a research laboratory in London to explore the potential benefits of using blockchain technology.

The lab will open at Level39, London's foremost fintech accelerator space and will seek new ways of addressing issues with financial services.

"Our innovation lab at Level39 will provide a unique platform to explore emerging technologies such as Blockchain and crypto-currencies, and to understand the potential impact for the industry," Oliver Bussmann, group CIO at UBS, said.

"We are moving away from a purely in-house innovation strategy, optimising collaboration opportunities with the growing fintech business, start-up and investor community in an open and transparent way."