The State Of The Market: After three straight weeks of gains, Bitcoin reached a high of $7,400 last week. However, that did not last long. Within a few hours, the price fell down to $6,400. The fall continued today, going to a low of $6,200 before bouncing back. Bitcoin (BTC) is currently priced at $6,433.23, losing 0.88% in the last 24 hours. With Bitcoin crashing, most cryptocurrencies followed. The total market cap went from $240 Billion to $192 Billion, wiping off $48 Billion. The market cap has slightly recovered and is currently at $200.5 Billion. Bitcoin dominance has gone up from 53% to 55.3%.

1) Winklevoss twins filed a new patent for a solution for storing digital assets. It said that the solution will introduce a new method which enables the division of a digital asset account among a “plurality of users”. Those accounts are dubbed as “multi-signature” and will require a number of users to authorize a transaction altogether, hence providing a higher level of security. Mike Novogratz, a prominent cryptocurrency investor, noted that custody from a “trusting source” is likely to catalyze the next move up in prices (Read More).

2) After initially announcing a partnership with Stellar, IBM has quietly rolled out ‘Blockchain World Wire’ which will facilitate near real-time cross-border payments. In doing so, Stellar with IBM is directly competing with Ripple. IBM will partner with financial institutions and integrate Blockchain World Wire with their existing payment systems for seamless transactions (read more).

3) Speaking to a Congressional Committee, Jack Dorsey, the CEO of Twitter revealed that blockchain is a priority at their company right now. Twitter is currently working on preventing online scams and fake news using blockchain. Jack Dorsey has been extremely bullish on Bitcoin and Blockchain. He’s also the CEO of payments app Square, which recently enabled a feature to let its customers trade Bitcoin within the app. At a previous event, Jack Dorsey claimed Bitcoin has the potential to replace the US Dollar in just 10 years (read more).

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