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Ethereum hits new record high above $3,400, extending its more than 300% rally this year – CNBC

Ether’s rise has been attributed to a growing number of developers building decentralized finance or DeFi applications on the Ethereum platform.

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GUANGZHOU, China Ether, the digital coin linked to the Ethereum blockchain, hit an all-time high of $3,456.57 as the cryptocurrency extends a rally that has seen its price gain around 360% this year.
The digital coin pared some of those gains in Tuesday afternoon trade in Asia was trading at $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…

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