The State of the Market: Bitcoin (BTC) — which just breached $7,700 — has continued to dominate the markets, rising 3% today as the other coins in the top 10 all recorded minor losses. Given this market dynamic, it’s unsurprising that Bitcoin dominance has also continued to rise, and is on a trajectory to hit 47%, after already surpassing it’s highest recorded point since the beginning of 2018. Ethereum (ETH) has had another lackluster day, with a decrease of about 2.5%.

1) Bitcoin’s dominance — or it’s total share of the total cryptocurrency market capitalization — just passed 46%, reaching its highest point thus far in 2018. The Bitcoin dominance index last exceeded 46% on December 22, 2017, back when Bitcoin was trading just below its all-time high of around $20,000 per coin. The recent rise in dominance comes as the price of Bitcoin has jumped nearly 15% in the last 5 days, despite decreases across most of the top altcoins (read more).

2) ConsenSys, a Blockchain startup to promote Ethereum Dapps has signed a Memorandum of Understanding (MoU) with the government of the Chinese city of Xiongan. Run by Joseph Lubin, the co-founder of Ethereum, ConsenSys will advise the new city on Blockchain applications and governance. Xiongan is a dream city of Xi Jinping, and a planned economic zone in backwaters are in Central China. China has committed billions in investment and expects 67 million people to eventually move to Xiongan. Though the country’s central bank has completely banned cryptocurrencies, the government is keen on implementing Blockchain wherever possible (read more).

3) Interoperability — the ability for disparate blockchains to communicate with one another — has become an increasingly important issue as of late. Yet, a recent announcement from Wanchain (WAN) demonstrates that progress is indeed being made. Today, the Wanchain team announced the live release of its protocol’s version 2.0, which enables decentralized transactions between its own blockchain and Ethereum using a technology known as atomic swaps. With the announcement, Wanchain has become one of the first protocols to demonstrate the potential and viability of cross-chain transactions (read more).

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