The latest Weiss report on cryptocurrencies has been published, with the highest ratings achieved by Bitcoin (BTC), Ripple (XRP) and EOS (EOS), according to a press release.
Weiss’ Bright Crypto Future
The report, titled “Dark Shadows with a Bright Future”, is compilation and analysis of 120 cryptocurrencies. The report looks into different offerings, adoption and the technology of cryptos and then assigns a letter based grade to each.
Ripple’s XRP tops the report, with an A grade. The report says that with its ability to compete with the global SWIFT banking information network, it is the most useful crypto in the market at the moment. EOS shares the A grade with Ripple. According to the report it is “the leading cryptocurrency challenging Ethereum to become the backbone of the new internet”. Bitcoin, the largest cryptocurrency by market capitalization also sits with EOS and Ripple to share the A grade. The pressure released on its network due to the adoption of lightening network will keep BTC as the top store of value.
The surprise A grade of EOS in the report had seen its value jump by 20% after the report.
Ethereum’s ETH, the second largest crypto in the world, has been awarded A-. An upset for many people, the rating is justified in the report, saying it is “most widely used smart-contract platform, but currently faces difficulties with scaling.”
The 5th position is awarded to Cardano, siting its smart contracts one the most advanced, coupled with strong monetary policy and system of governance. Steem, NEO, Stellar, Zcash and BitShares round off the list of the top 10.
The Weiss report, however, notes and warns that investors and crypto users should not forget that the risk of losses in the digital currency sector is high. When the report takes the risk factors into account, the overall ratings of all cryptos fall sharply. None of the 120 coins and tokens get an A. BTC, EOS, XRP and Binance’s BNB only to get a meager B-.
The founder of Weiss ratings, Dr .Martin Weiss, said that even with an overall low ratings, the time for investing in cryptos right now is good, “Despite lower prices since early 2018, our ratings model gives us hard evidence that a critical segment of the cryptocurrency industry has enjoyed remarkable growth in user transaction volume, network capacity, and network security […] Therefore, for those willing to take the risk, the best time to invest could be very near”
The sentiment is shared by other finance analysts, with many giving a positive outlook of a “Crypto Spring” coming up.
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