China’s latest crypto ranking has EOS at the top again while Bitcoin slides below top 10. Meanwhile, Weiss Ratings sticks to the same “Fair” for Bitcoin while revealing their top altcoins pick.
September 22, 2018
China’s latest crypto ranking has EOS at the top again while Bitcoin slides below top 10. Meanwhile, Weiss Ratings sticks to the same “Fair” for Bitcoin while revealing their top altcoins pick.
EOS yet again on top while Bitcoin drops below 10
So, which cryptocurrency is the best choice right now? Bitcoin, the world’s number one cryptocurrency might be most popular among the investors but not so much by the rating agencies.
In its official fifth crypto ranking, the China Center for Information Industry Development (CCID) that comes under the country’s Ministry of Industry and Information Technology has analyzed thirty-three crypto projects.
On the basis of three categories viz. basic technology, application, and innovation, different cryptocurrencies have been ranked. Bitcoin which has been previously on 10th place further got downgraded to the 16th place. Last time was the first time Bitcoin made it to the top 10 however, this time it tops the list in the creativity category.
Apparently, improvements have been made to the evaluation methodology as stated by the center:
“The evaluation of the public chain development tools was classified and refined, and the accounting method of the actual throughput of the public chain was optimized.”
The list is topped by EOS followed by Ethereum (ETH) and further BitShares (BTS) that jumped from its previous 12th place to the 3rd. In relation to this ranking, CCID shared,
“Compared with the previous period, the EOS and Ethereum indices decreased by 13.2 and 5.3 respectively, and Bitshares rose by 9.9. The position of Bitshares also jumped from the 12th in the previous period to the 3rd place.”
Bitcoin still a fair game, but 7 altcoins top choice
Apart from the CCID’s ranking, Weiss Crypto Ratings Agency didn’t downgrade Bitcoin but it maintains its previous rating of C+ which is “fair”. Quoting Charles Hoskinson, creator of Cardano (ADA) and co-founder of Ethereum,
“Any rating that doesn’t give Bitcoin an A has got some screws loose. Nearly ten years of wealth creation, innovation, massive growth, proven resiliency against crashes and billions worth of infrastructure. And all without a leader. Bitcoin is the standard,”
Weiss Ratings try to explain the difference between Hoskinson’s statement and their C+ rating. As per the risk and reward Index, Bitcoin is weak while fair in innovation but excellent in adoption.
It further states, “…sustained Bitcoin dominance in the cryptocurrency space is now debatable,” before concluding with “we know that the crypto ecosystem is evolving at a very rapid pace; that older technology will be upgraded or discarded; and that, ultimately, its future is both very bright and virtually unlimited.”