That's what the MAX7219 datasheet calls for, 0.1uF and 10uF together on the VCC pin.
To minimize power-supply ripple due to the peak digit
driver currents, connect a 10μF electrolytic and a 0.1μF
ceramic capacitor between V+ and GND as close to
the device as possible. The MAX7219/MAX7221 should
be placed in close proximity to the LED display, and
connections should be kept as short as possible to
minimize the effects of wiring inductance and electromagnetic
interference. Also, both GND pins must be
connected to ground.
10 MHz serial interface allows for Fast SPI interfacing (SPI divisor set to 2) for nearly 1byte/uS transfers. I use that when I use the chip:
PORTB = PORTB & 0b11111011; // clear SS pin, use D10 on Uno
SPI.transfer(registerAddress); // 1 to 8, can be from an array
SPI.transfer(dataToWrite); // data, can be from an array also
PORTB = PORTB | 0b00000100; // set SS pin