Wall Street analysts reacted with great fanfare after Facebook finally revealed the details of its long awaited cryptocurrency, Project Libra, on Tuesday. Most analysts believe the crypto project will give the company a major boost and continue pushing Facebook to further greatness.

The social media giant said its partners in the initiative include eBay, Lyft, and Uber as well previously reported payment partners Visa and PayPal.

Share of the company were down 0.28% to $188.51.

"Facebook unveils blockchain-based Libra currency to empower billions globally," said J.P. Morgan analyst Doug Anmuth who also reiterated Facebook as his best idea in the internet space.

"We came into 2019 with the view that mega-cap internets, and Facebook in particular, would need to increasingly diversify their businesses and revenue streams, " he said. "We believe Libra can accelerate that diversification for Facebook as it creates engagement beyond social and communications, and facilitates commerce across the platform."

Wall Street analysts' excitement didn't end there.

"We view Facebook's introduction of the Libra currency as a potential watershed moment for the company and global adoption of crypto," RBC analysts Mark Mahaney and Zachary Schwartzman said.

However, while analysts at SunTrust said this move was a, "positive," they also cautioned this will take some time.