Are the Tech giants helping the cryptocurrencies to survive in the fiat currency market?
It has been over a decade since the first cryptocurrency, Bitcoin, was introduced in the market. Since then, it has never seen back. It has influenced some of the major industries in one way or another.
Cryptocurrencies were nothing more than just slump until recently. Technological giants like Google, Yahoo, Amazon, and Facebook are making their movies to use the Cryptocurrencies. This might be the sign that cryptocurrency might be the next big thing in the near future.
As the interest of these enterprises is quite clear, traders and investors are predicting that the price of the Cryptocurrency might skyrocket in the near future.
The market has quite a lot than it was in 2017. With an unexpected event, people started making an impulse purchase of the cryptocurrency. Some people are still holding to the coins hoping for the next big wave to come, while some have already over with the crypto trade.
Until recently, there were no big companies involved in the crypto trade market. But recently some of the major industries of the world have shown their interest in the crypto trade market. This has made it clear that the Crypto trade will remain in the business in the future.
Here are some updates on how the major industries are adapting to the cryptocurrency trade market.
Table of Contents
Facebook launched its own Cryptocurrencies
There were already rumors about Facebook getting involved with the Cryptocurrencies. The rumors started when the president of the pay pal, David Marcus joined the coinbase board. This made people believe that Facebook is up to something. Then in 2018, David stepped down from the post saying that he want to invest his time in merging Facebook and cryptocurrencies.
Today, we are 2020, and we already know what Facebook has launched recently. In May 2020, Facebook launched its own cryptocurrency called Libra. It is a stable coin that is powered by some of the big enterprises of the world.
Yahoo! Announced a new Exchange
Yahoo! Is monopolizing Japan’s crypto trade market with owning more than 40% of the total crypto shares. Yahoo recently bought one of the japan based cryptocurrencies called Taotao with estimated 2 billion yen.
Yahoo was able to enter the japan crypto trade market at the right time when the interest of japan was rising with the cryptocurrencies.
After this event, it was seen that the most noted digital asset of japan has seen an increase in new accounts by 200%.
Google launched a crypto-related search tool
Google does not need introduction. We all know what Google is and how it has reached saturation in our life. No matter what we want to know, the very first thing that comes to our mind is to search google for the answer.
After seeing how popular the cryptocurrencies are getting, Google is trying to incorporate new kinds of search results that can show the accurate value of the cryptocurrencies. As of now, Google is currently working for only a few famous cryptocurrencies. But Google wants to incorporate information about all the Cryptocurrencies.
Will the users of these platforms will be affected?
After the price drop of the cryptocurrencies, many users have swayed away from the crypto trade market. However, experts believe that after the involvement of these technological giants, it might reignite a new spark and can bring back the people in the crypto trade market.
Conclusion
After the involvement of these big companies, one can be sure of one thing that the cryptocurrencies have got support from bigger firms. The involvement of these forms means that cryptocurrencies have hidden possibilities that normal people are yet to see.
After knowing the future of the cryptocurrencies is bright, you must read the keyways business owners adapting
