Cryptocurrency

Dogecoin leapt in value following tweets from Elon Musk on what he hopes to see the meme coin achieve.

DOGE hit 27 cents at the time of writing (7am UK) on Monday but topped 28c earlier in the morning.

That compared with 24.5c on Friday morning.

Tesla and Space X entrepreneur Musk, a famous backer of the coin, tweeted: “What matters imo is lowering fees, decreasing block time & increasing block size.

“A single layer network with exchanges as de facto layer 2 seems like the simplest solution for a medium of exchange.”

DOGE co-creator Billy Markus replied: “yeah – IMO dogecoin being fast, scalable, and inexpensive to send around is all it needs to be, it doesn’t need to be yet another blockchain that hosts NFTs or other tokens or whatever… the tech to get there is complex, but that utility is simple and needed – beauty in simplicity.”

Musk responded to those tweets with a positive ‘100’ emoji.

DOGE is 12% up over seven days.

Solana (SOL) hit an all-time high of $213 on Friday and by Monday has settled back at $207, the previous record it had set late last week.

The token, connected to the Solana Foundation – an open-source project designed to facilitate the creation of decentralised apps – is 29% up in a week.

Having hit a record $67,016 last week, market leader Bitcoin (BTC) has settled at just above $62,000 and is slightly down on last Monday’s price.

Smart contract blockchain platform Ethereum (ETH), the world’s second most valuable crypto, remains around 4,130 – where it was on Friday morning – and is 6% up over seven days.

Binance Coin (BNB) climbed almost $3 from Friday to $482, which leaves it 2% higher than its valuation last Monday.

Cardano (ADA) fell from $2.19 on Friday to $2.14 and is 1% down in a week.

Ripple’s XRP dropped 1c to $1.09 over the course of the last three days and is less than 1% down over seven days.

Polkadot (DOT) fell slightly to $44 yet is 2% up over seven days

The overall market cap of the more than 13,000 coins is at $2.57 trillion, more or less an all-time high.

To see how the valuations of the biggest movers and shakers – and main coins – have changed over the last few days, click here.

For valuations of the top 250 coins by market cap (updated every 15 minutes), their market cap plus 24-hour price change and volume traded, see below.