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Dogecoin is once again on the ascendency on Tuesday after Elon Musk hinted that Tesla may soon offer online payments in the cryptocurrency.
It would be a major coup for the meme-inspired crypto, which the Tesla CEO has previously suggested could be the “currency of the internet”.
The price of ethereum has also surged, continuing its astonishing run that has taken it to a succession of new all-time highs over the last 10 days. The price surge has pushed the combined value of all cryptocurrencies to more than $2.5 trillion.
Bitcoin has also continued its recovery from the late April price crash, which saw it fall from around $65,000 to $48,000. It is currently trading at around $56,000 and has seen steady gains over the last few days. Other major cryptocurrencies have also seen substantial gains, with both bitcoin cash and cardano (ADA) rising by nearly a third in value over the last week.
You can follow all the latest updates of the crypto market below.