This week, Weiss ratings, a private firm that tracks and delivers cryptocurrency ratings, released a report which concentrated on 93 virtual currencies. in the report, Weiss cryptocurrency ratings placed ADA and EOS ahead of the top coins like BTC, ETH, and XRP.
ADA, DCR, and EOS scored a B (plain) while bitcoin (BTC), Tron (TRX), Ripple (XRP), and IOTA (IOTA) scored a B-. the lower levels i.e from C+ to C- was occupied by fifty-four digital coins which included bitcoin cash (BCH), DASH (DASH), Litecoin (LTC), and LISK (LSK).
Weiss ratings were founded by Dr. Martin Weiss and the ratings are based on individual coin’s adoption, how unique the technology behind each coin is, and the risks involved with each coin.
According to Dr. Martin,
“Developers want a grade based exclusively on what their cryptocurrency project has achieved in terms of technology and adoption, regardless of market fluctuations. In contrast, investors seem to be more interested in how much money they can make or lose. Our overall Weiss Rating is a blend of both. But now, we are also breaking out the components so users can better understand what’s under the hood.”
Weiss continued to note that,
“Cryptocurrencies do not have to achieve an A grade to merit interest by investors. A ‘B’ or even ‘B-‘ also qualify as the investment rating equivalent to ‘buy.’ At the same time, investors should not be overly alarmed by a ‘C’ rating. It is a passing grade; and for investors, implies the equivalent of ‘hold.’”
Although Weiss Cryptocurrency Ratings placed ADA, DCR, EOS ahead of the top coins, 25 out of the 93 coins sampled were rated below D+ with some coins scoring an E-.
Do you think ADA, DCR, and EOS being ranked ahead of bitcoin, ether, and other top coins shows the coins’ higher adoption rates and manageable risks in a highly volatile crypto market?
Let us know your thoughts in the comments section below.