- Weiss Ratings has updated its ranking, with Bitcoin, Ethereum and XRP followed by EOS remaining at the top.
- Bitcoin and Ethereum achieve the best marks in the entire coin portfolio with “B-“.
Weiss Ratings has been providing a ranking for cryptocurrencies, shares and other financial instruments for quite some time, which reassess the respective assets on the basis of various parameters at regular intervals. The new update has reassessed the risk assessments for some cryptocurrencies. In addition, the ranking has changed in some places.
Weiss Rating Update for BTC, ETH, EOS and XRP
Like Ethereum, Bitcoin receives the highest rating of “B-“, ahead of XRP, EOS and Tezos. Among other things, Weiss Ratings evaluates the degree of adaptation as well as the profit/risk ratio of the respective cryptocurrency on a scale from A to E, where A represents the best grade. The following overview shows the five best rated cryptocurrencies on the Weiss Rating scale.
Although the first three cryptocurrencies are also those with the largest market capitalization, this metric does not play a significant role in the ranking. EOS and Tezos, other competitors with a lower market capitalization, follow in 4th and 5th place in the ranking.
In terms of technology, Ethereum leads the list, ahead of Stellar, Cardano, Cosmos and NEO. Weiss Ratings evaluates a total of 125 different cryptocurrencies, with the portfolio being regularly expanded. The rating company offers a contact point to get a rough overview of the cryptocurrencies represented on the market.
Another well-known rating is the crypto ranking of the Chinese Ministry of Industry and Information Technology, which also evaluates the most prominent cryptocurrencies at regular intervals. The ranking is published once a month and is intended to evaluate the cryptocurrencies in various areas in order to draw conclusions about technological innovation and their actual influence on the economy.
EOS came in first, followed by TRON and Ethereum. However, industry experts criticize the informative value of the ranking, as cryptocurrencies with a real practical application, such as VeChain, are not represented in this report.
🇨🇳 News out of #China continues…
The Ministry of Industry and Information Technology's CCID has released v14 of #crypto project rankings.
— Nugget's News (@NuggetsNewsAU) October 28, 2019
Weiss Ratings has also received criticism in the past for comparing different cryptocurrencies that have fundamentally different long-term objectives. The community discussed the tweet of 13 November 2019 loudly, with Weiss rating Cardano overpowering EOS.
#Cardano is clearly superior to #EOS. EOS was first to market, but it’s becoming increasingly clear that of the two, Cardano is vastly superior. More details on this in subsequent tweets. #ADA #crypto #cryptocurrency
— Weiss Crypto (@WeissCrypto) November 13, 2019
Ratings of agencies should always be viewed with a healthy scepticism, since cryptocurrencies represent complex projects whose parameters often cannot be adequately mapped in the existing parameters of the ratings.
Bitcoin shows short-term upward trend
Meanwhile, Bitcoin is showing an upward trend. Bitcoin’s price has risen more than USD 200 in the last two hours. However, the 8,000 USD mark is seen as an important resistance so that Bitcoin could fall again in the short term if this resistance is not breached.