Ethereum hits another record high, marking a more than 2,800% rally this year

Ethereum hit a fresh record high price of $250.41 on Sunday. The price is up over 2,800 percent year-to-date.
Korea is driving ethereum trade.
Continued interest in the underlying blockchain behind ethereum has led to support from big companies such as Microsoft.

Ethereum, an alternative cryptocurrency to bitcoin, hit a fresh record high on Sunday, amid continued interest in the digital asset space and increased trade from Asia.

On Sunday, ethereum traded at an all-time high of $250.41, according to data from industry website CoinDesk. This is up 2,839 percent from the $8.52 handle it had on January 1. Ethereum was trading at around $246.62 on Monday morning, slightly off its record high.

Ether is the name of the cryptocurrency which runs on the ethereum blockchain, which is the technology that underpins the digital coin. But ethereum is often used as shorthand for the digital currency as well.