Weiss Ratings, the first financial ratings agency to rate and review cryptocurrencies in addition to rating traditional stocks and financial institutions, has released their updated list of cryptocurrency ratings.
The company recently reviewed more than 3,000 cryptocurrencies and gave ratings to over 111 of them. Out of all the recent ratings, only 4 cryptos were given a “Buy” rating (B- or higher) — XRP, Stellar, Cardano, and EOS.
According to Weiss, they base their blockchain ratings on a number of metrics:
Based on the parameters above, Weiss Ratings gives each coin a grade from “A” to “E.”
A coin is considered a “buy” when it holds a grade of “B-” or higher. A coin is considered a “sell” when its grade is “D+” or lower. If the grade is a “C” the coin is considered a “hold.”
In Weiss’s recent ratings, XRP and Stellar were labeled “buy” because they scored high on the “technology model” metric with their high transaction speeds.
EOS and Cardano were labeled “buy” based on their “adoption model” metric in regards to strong communities and app-building capabilities.
As for Bitcoin, it received a “C” grade or “hold” status. Weiss graded Bitcoin this low due to “outdated technology, including slow transaction speeds, difficulty in scaling, weak governance” and “poor risk/reward metrics.”
This recent “C” grade is the same rating Bitcoin received back in January, and many people in the cryptocurrency community completely disagree with this rating.
For instance, Charles Hoskinson, the founder of Cardano and IOHK, came out in defense of Bitcoin and took his frustration to Twitter:
We want to know what you think of the Weiss Cryptocurrency Ratings. Is Bitcoin deserving of a “C” rating? Do you think coins like XRP, Stellar, Cardano and EOS deserve to be rated higher than Bitcoin? Let us know what you think in the comment section below.
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