The integration of the cryptocurrency market with its mainstream counterpart has been a significant focus of many digital asset proponents. Twenty nineteen has seen multiple partnerships between cryptocurrency companies and mainstream organizations that usually deal with fiat, with CoinMarketCap standing out the latest example.
A new release by the cryptocurrency data aggregator revealed that CMC has partnered with Yahoo Finance to help the latter’s cryptocurrency market data section. CMC’s blog said:
“CoinMarketCap and Yahoo Finance have confirmed a strategic partnership for cryptocurrency data and content! Specifically we are providing the cryptocurrency pricing, indices and educational information to power the cryptocurrency markets on Yahoo Finance.”
The latest partnership comes right after CMC launched its latest liquidity-based metrics to combat the issue of fake trading volumes. The aggregator had considered metric changes earlier, too, when reports had come in that more than 90 percent of all reported volume on cryptocurrency exchanges were fake. Yahoo, on the other hand, has been quite active in the sphere, reporting crypto news at a rate that may soon match up to other departments.
The partnership does not just entail the cryptocurrency market data, but it also contains the CMC indices, Crypto2000, and the Crypto200 EX. The former includes Bitcoin, while the latter deals with everything excluding Bitcoin. Post the latest announcement; users will be able to see CMC’s newsletter and blog content on the Yahoo Finance news stream as well as on the main screener pages.
CMC has assured users that the new features will not be the end of the road for the partnership as the companies have plans to develop educational video features and content shortly. Joanna Lambert, a Yahoo employee, commented:
“As cryptocurrencies continue to gain attention, it’s essential that we expand our crypto news and data for millions of Yahoo Finance users across the globe. By partnering with CoinMarketCap, we can provide timely and reliable crypto information to meet our audience demand”
One of the main aims of this partnership is to expose Bitcoin and other cryptocurrencies to the general populous, the majority of which think of it as a risky speculative asset. Although Google is ahead in the race for search parameters, Yahoo still boasts a monthly traffic count of 3.5 billion, a large chunk of which can be educated about legitimate cryptocurrency trading.
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