The American crypto research firm Weiss Ratings has published the latest update of its popular digital currency ranking which evaluates over 100 tokens out of a total of more than 3000 studied cryptocurrencies. Despite this, only four were rated as ‘strong buys’ by the firm.
According to the Ranking, the crypto coins get a rating ranging from grades E- to A+. If a crypto receives a B- or higher then it is considered to be a ‘buy’ when the rating is between C- and C+ it is considered a ‘hold’ whereas if it is lower than a d+ it is seen as a ‘sell’.
So only four out of a hundred cryptos are classed as buys. According to the recent study, XRP, Cardano, Stellar and EOS were rated higher than a B which meant that the prestigious risk assessment recommends their purchase and accumulation in the short term. The reasons behind this are based on their potential.
“These are among the few that are beginning to put it all together — the advanced tech and adoption in the real world. They’re not all the way there yet. But they’re making good progress.”
As it says in the report, XRP and Stellar have as a guarantee, the potential to be useful be useful for traditional industries while Cardano and EOS will have a significant impact at the level of building decentralised communities.
“XRP and Stellar are appealing to businesses and other organizations, mainly for speedy financial transfers. In contrast, EOS and Cardano are designed more as virtual communities, with each participant empowered to influence the future direction of the project, spanning a broad range of applications.”
As said by Ethereum World News, the team at Weiss had a positive outlook about this small group of cryptos. To show off their enthusiasm, they invited several investors to do an exercise where they translate the current progress made by these blockchains into the near future.
“Think about that. They’ve made remarkable progress during a period of massive investor losses, broad reputational damage to the industry, and worse.
So imagine what their market performance could be like once the crypto markets firm up and investor interest returns in a big way!”
For those who are wondering, the leading cryptocurrency got a rating of a C. The firm says that the crypto has much potential for adoption however it doesn’t have as many tech innovations in comparison to EOS and Cardano.
What are your thoughts? Let us know what you think down below in the comments!