On March 2, Bitcoin continued to hover around $3,850. At the same time, most of the top digital currencies experienced small to modest losses. For the day, Bitcoin lost a little more than 0.5%, finishing the day trading at $3,858. For the week, the world's leading cryptocurrency lost more than 6% of its value after beginning the week at $4,142. Ethereum continues to be the second most valuable digital currency by market capitalization. Right now, its market value is a little more than $14 billion. Coming right behind Ethereum is Ripple, whose market capitalization is currently around $13 billion. For the day, Ethereum is down 2.5% and is trading at about $134, after beginning the day trading at $138. For the week, the currency is down 15%, after starting the week at $157. It fell in spite of the fact that its St. Petersburg and Constantinople upgrades successfully went live this week. In Ripple related news, researchers working for the Binance cryptocurrency exchange published a report about a new interbank stablecoin that JPMorgan Chase has announced. They believe that, at the moment, this currency only provides "minimal direct competition" to Ripple. As for other digital currencies among the top 20, Tron and EOS experienced the worst losses for the day. They both fell by about 4%. In terms of the industry as a whole, the market value of all digital currencies currently stands at a little more than $130 billion. For the week, it is down 7.5% after beginning the week at a little more than $140 billion. In other cryptocurrency news, the U.S. Federal Reserve indicated that they believe the market fall of Bitcoin to be one of the many "salient risks" that they will consider when establishing stress tests. Also, the Financial Action Task Force, which is an intergovernmental agency, issued initial guidelines for digital currencies. Finally, on March 1, Blockstream, which is a blockchain development firm, released a new version of C-lightning. The software helps scale Bitcoin through an implementation of the Lightning Network.
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