Ethereum jumps to all-time high of US$3,456

Ether, the digital coin linked to the Ethereum blockchain, hit an all-time high of US$3,456.57 as the cryptocurrency extends a rally that has seen its price gain around 360 percent this year, CNBC reports.

The digital coin pared some of those gains in Tuesday afternoon trade in Asia was trading at US$3,271.90 at 12:12 p.m., according to CoinDesk data.

Interest in cryptocurrencies has surged over the past year with bitcoin continuously pushing new record highs. A number of factors including rising institutional interest and major companies such as Tesla buying the digital coin have been credited with its rise.