And the bitcoin frenzy continues.

The popular digital currency came close to hitting the $2,800 mark on Thursday, only to drop close to $400 in one hour—though it was still up on the day. Bitcoin’s price hit a new all-time high of $2,760.10 on Bitstamp thanks to an uptick in demand out of Asia, but that rally ended shortly after the price fell to $2,263.72 several hours later.

Trade denominated in the Japanese remained solid, accounting for about 31 percent of Thursday’s trade volume, while Chinese yuan and Korean won accounted for 16 and 12 percent, respectively, according to CryptoCompare data.

Japan, if you recall, saw a burst in digital currency trading activity after regulators introduced new rules that treat bitcoin as part of the banking system.