CoinMarketCap to provide Yahoo with Crypto-Data streams
The popular cryptocurrency and altcoin tracker recently announced through its blog that Yahoo Finance will be using CoinMarketCap as a cryptocurrency data provider for crypto tickers on Yahoo’s website and indices.
CoinMarketCap is not only one of the oldest cryptocurrency trackers out there, but it is the website that inspired so many newer cryptocurrency trackers, essentially suggesting what is important to know about each coin respectively.
From the ability to oversee detailed historical data about your favorite digital assets, their market caps in real-time, unlike the 09:00-17:00 tickers of traditional markets, as well as information about where and how you could trade each coin, CoinMarketCap (CMC), provides the crypto community with the edge they need to stay on top of the update curve.
Hence, the partnership between CMC and Yahoo, shouldn’t be a big surprise if you’re in the scene for some time.
“Yahoo Finance is one of the most respected and widely-adopted finance sites in the world. Through this partnership, we seek to make cryptocurrencies more accessible and drive wider adoption.”
Right after introducing the new liquidity-based statistical metrics on its own portal, CMC announced that the crypto-tracker now empowers the cryptocurrency market data section on Yahoo Finance, providing information on pricing, market capitalization, as well as CMC indices.
The mutual partnership is not limited to crypto statistics tho, with Yahoo distributing CMC’s daily newsletter and blog content, which will soon also host educational videos, that will be all available at Yahoo Finance as well.
Furthermore, Yahoo Finance will be also showcasing the Crypto 200, and Crypto 200 EX Indices created by CoinMarketCap, on its main website, while it is said that these two indices alone represent more than 90% of the global market capitalization in the crypto market.
While Yahoo dropped from Google’s ‘competitors list’ as a search engine, it managed to gain traction as a Financial news broker on the net, and as a physical telecom, and or financial services provider overseas.
Last year, Yahoo’s Japanese branch bought 40% of a Tokyo-based exchange market called BitARG, as a step to build its own cryptocurrency-focused exchange market using BitARG’s technology.
Yahoo purchased BitARG stocks using its sub-label YJFX, a Tokoyo-based forex platform. basically purchasing a stake in BitARG for 2 billion yen, or $19 million USD, according to Nikkei Asian Review.
While the project was estimated to be rolling out by mid-2019, we’re still wondering what the Yahoo network and Japanese fintech combo might bring on the table. Rumors during the period of the purchase said that Yahoo preferred BitARG due to its unique team, security measures, and the fact that it was one of the few already regulated cryptocurrency markets in Japan back then.