Cryptocurrencies are poised to finish the 7-day week ending March 1st broadly lower as the price of Bitcoin (BTC) fell 2.86% since last Friday’s end of day to around the USD$3,870 level. EOS (EOS) lagged major coins in trading this week, slipping 6.77% since last Friday’s end of day to USD$3.58. Binance Coin (BNB) continued to bolster its case as the crypto market stalwart this week, moving against the broad market and appreciating 5.50% since last Friday’s end of day to USD$11.30 – with the extension of its rally this week, BNB flipped TRON (TRON) to become the ninth-largest cryptocurrency by market capitalization.
This week of cryptocurrency news is headlined by Coinbase, who officially began to offer trading services for major cryptocurrency Ripple (XRP) on its online and mobile exchange platforms. Also notable in crypto news this week, the New York Times reported that Facebook is beginning to shop its highly secretive cryptocurrency project, dubbed as Face Coin, to various cryptocurrency exchanges. The 50-person team at Facebook working on the cryptocurrency, headed by ex-PayPal President David Marcus, aims to, “succeed where Bitcoin failed.” Finally this week, JPMorgan Chase & Co. CEO Jamie Dimon said in an interview with CNBC that the financial institution’s prospective cryptocurrency, JPM Coin, could one day have consumer applications.