China Releases New Cryptocurrency Ranking With A Slightly Better Performance For Bitcoin
The Chinese Center for Information and Industry Development (CCID) has recently released the latest ranking related to virtual currency projects in the market. This time, there were 35 projects evaluated with some interesting things to mention. This is the 10th update of its cryptocurrency project ranking.
In the list appears Tron (TRX) for the first time in the second position. This is very positive for Tron that has been expanding in the cryptocurrency market for over a year. The Tron Foundation is working in order to improve the BitTorrent Network and a few weeks ago they’ve released the so-called BitTorrent Token (BTT).
EOS remains in the first position with a total score of 150.5, 4.9 points more than Tron. EOS outperforms Tron in the “basic-tech” category and “creativity.” Meanwhile, Tron performs better in “applicability” than EOS.
Ethereum (ETH) is located in the third position with 139.2 points. This shows that the three first spots are exclusively for blockchain networks that allow interested developers to run decentralized applications (dApps) or create smart contracts. Tron was able to surpass Ethereum in the ranking. Nevertheless, Ethereum surpasses Tron and EOS in “applicability” and “creativity.”
Meanwhile, Bitcoin (BTC), the most popular digital asset in the market, has ranked higher than in the last edition. Now, Bitcoin is located in the 13th position. Meanwhile, Bitcoin Cash (BCH) holds the 27th position.
According to the CCID, Tron, which was launched in May 2018, was a “low-level public chain with high throughput, high expansion, and high reliability.” Moreover, they inform that Tron is compatible with the Ethereum smart contract.
As mentioned before, the CCID will be using three primary indicators: basic technology, applicability, and creativity. The creativity indicator has now a higher weight in the total score index. Nano, Verge, and Qtum have also registered important increases.
Litecoin (LTC), currently the fifth largest virtual currency in the market, has the lowest score in basic technology and has ranked 34th. Only NEM (XEM) registered a worst overall score. In terms of applicability, Litecoin ranked penultimate with 10.1 points. Litecoin ranked the best in creativity, with 14.8 points. The final score for Litecoin is 72.3.
At the time of writing this article, Bitcoin is being traded close to $3,867 and it has a market capitalization of $67.91 billion. Tron is currently in the 9th position with a market capitalization of $1.62 billion.