It seems there’s never a dull week in cryptocurrencies. In the most recent period, Elon Musk’s support for Bitcoin and a record runup in Ether helped take the market value of digital tokens to an all-time high.

Billionaire Musk also posted tongue-in-cheek tweets about Dogecoin -- a Shiba Inu-themed unit that began as a joke -- stirring buying that drove its market capitalization past US$6 billion ($8.01 billion). The value of more than 6,000 tokens tracked by CoinGecko was an unprecedented US$1.17 trillion on Thursday.

The developments provide more evidence of the way the casino-like gyrations of digital coins are seeping into the mainstream. High-profile proponents of Bitcoin like Musk say it’s winning broader acceptance in the finance community. Regulators, meanwhile, are stepping up warnings of volatility that could wipe investors out.

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