Yahoo raised a fervor in the cryptocurrency market by integrating a new dimension into their system. Furthering the trend of cryptocurrency adoption, Yahoo Finance has added the buying and selling of Bitcoin [BTC], Ethereum [ETH], and Litecoin [LTC]. Other prominent cryptocurrencies like Ripple’s XRP, Bitcoin Cash, Stellar XLM, and others do not have the same options on such platforms.
This positive push in the digital currency market has been voiced by the crypto community as an impetus for crypto adoption. Following Yahoo’s decision, Anthony Pompliano, crypto advocate and founder of Morgan Creek Digital tweeted:
You can now buy Bitcoin, Ethereum, and Litecoin on Yahoo Finance.
THE VIRUS IS SPREADING
— Pomp (@APompliano) August 29, 2018
Some in the crypto-community are surprised at the exclusion of Ripple and Bitcoin cash which are ahead of Litecoin according to the markets. The development is no doubt an important step for the adoption of cryptocurrencies as the future of payment, but some voiced displeasure at Yahoo for not going according to the coin hierarchy in the crypto market.
According to CoinMarketCap, the current Bitcoin [BTC] price is around $7,024, with the $7,000 mark being crossed on August 28th. The price for Ethereum [ETH] is priced at around $287 and it saw a major push on August 28th in price performance after a disappointing week where it was languishing between $270-$280. Litecoin [LTC] is currently trading at around $61 with a total market cap of nearly $3.6 billion.
Yahoo’s plans for an Exchange
Yahoo has been flirting with the idea of a cryptocurrency exchange as well, with their Japanese arm, Yahoo Japan Corp, announcing back in March, that an exchange will open “in April 2019 or later.” Yahoo Japan Corp was originally formed as a joint venture between the American Internet giant and the Japanese company SoftBank and is now Japan’s biggest online auction site.
With this underlying prospect, Yahoo Japan confirmed back in April, of their acquisition of a minority stake (40%) in the Tokyo-based cryptocurrency exchange BitARG to solidify its base in the crypto-industry. The exact value of the investment is not ascertained but a figure of 2 billion to 3 billion yen has been floated.
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See also: China continues its drive against cryptocurrency promotional events
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