New China CCID Crypto Rankings: EOS Stays Atop with TRX #2 and ETH #3, Bitcoin in 11th Place?
As it has been recently revealed, President Xi Jinping has urged China to put more efforts in blockchain technology, and development to ensure that the country becomes a valuable competitor and doesn’t fall behind on all aspects technology.
That said, the country’s recent ranking of cryptocurrencies has been publicized, and it turns out that EOS takes on first place and Tron follows suit. Where is Bitcoin on this list? Interestingly, the giant crypto does not appear to have garnered the country’s attention, like the former two, as it has been ranked 11th.
EOS Takes First Place Yet Again
As the rankings get updated, 14 and counting, EOS does not seem to budge from its first place. Each of the projects are scored based on three factors: basic technology, applicability and creativity. EOS has gotten 151.8 points, and as per U Today, EOS’ previous score was 153.1, indicating a slight increase. China’s CCID isn’t the only one to have upped EOS, as Weiss Cryptocurrency Ratings also held EOS on top of all other projects.
TRON Follows Suit
TRON takes second place with a total score of 141.0. When compared to EOS, TRON takes the lead when it comes to applicability, while the former still beats the latter in terms of basic technology and creativity.
Coin Telegraph reported on this matter as well, while pointing out that TRON first made the list in February and has since witnessed a 25% increase in token value compared to that of the U.S. dollar. This, according to the news outlet, could have been due to CEO Justin Sun’s hyping, where the latter shared that the platform has partnered with an unnamed, “mega corporation.”
Bitcoinist added that China’s liking towards TRON doesn’t come of a surprise, given that the digital asset is “one of the nation’s largest cryptocurrencies by market capital.” That said, some doubt does seem to have come across the news outlet, who noted that TRON is not all that credible. The reasoning here simply rests in the asset’s former and current performance. The asset went from high $0.15 and currently sits in the $0.012 ranges.
As noted by Coin Telegraph, Bitcoinist also made mention of Sun’s over exaggeration and hype stimulation – typically forcing the prices to drive upwards.
With all the possible concerns that may arise from this project, it seems like TRON is still hard at work. There’s the BitTorrent purchase with a BitTorrent Token (BTT), the network itself having a large supply of USDT (i.e. 800 million), and its gaming and gambling-focused applications.
Bitcoin Falls Slightly Behind
Bitcoin [BTC] has gotten a total score of 103.2. While the giant has gotten a high score for creativity compared to the rest, it does seem to fall short on basic technology and applicability. The latter could be due to the ongoing lack of scalability witnessed on the BTC platform. Who could forget the time it takes to establish a block, which is much longer than the former two. At the time of writing, BTC is sitting at roughly USD$9,371.16, which comes after a drastic 30-42% increase within a day. Talk about the reappearance of volatility in the cryptosphere!