Weiss Crypto Ratings Releases New Annual Report
By Luke Flowers – Crypto Specialist
The Weiss Crypto Ratings have launched a new detailed report on the burgeoning cryptocurrency markets. The report analyses the coins and assigns grades depending on the technology and the rate of adoption suggesting which are likely to succeed. The report also considers risk compared to the potential reward.
Though Weiss expresses that the markets have experienced lower prices since early 2018, their ratings suggest that some sections within the markets have experienced strong growth in network capacity, transaction volumes and network security. This in turn has led to more users buying crypto through further endorsement. Most of these improvements have been implemented through the development and evolution of the technology behind the projects.
The Weiss Crypto Ratings determine the score on two independent grades with the first factored on the technology and the rate of adoption. If a lot more users were to buy and sell Bitcoin, this would increase its potential score. The second grade is based on the risk/reward determined by short-term factors.
Three different cryptocurrencies received a Tech/Adoption grade A which were XRP, EOS and Bitcoin. Many investors have chosen to buy EOS or XRP due to the technology that powers the projects and solutions they are trying to achieve. XRP is trying to compete with SWIFT as a global remittance service able to transact almost instantly anywhere in the world to another device connected. Anyone can buy XRP to use as a cross-border remittance solution.
The risks associated with cryptocurrencies are still great and this is factored into Weiss’ Crypto Ratings. This reduces the overall score of many projects with only four gaining a rating of B-. The cryptocurrencies that secured the highest overall rating include XRP, EOS, Bitcoin and Binance Coin. We could see more crypto buying for these coins following the release of these ratings.
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