TRON Ranks 5th in Fundamental Crypto Asset Score (FCAS) List
They are almost 2,000 cryptocurrencies in existence and for a novice crypto investor or someone who simply wants to get into the industry, it can be confusing to navigate what cryptos are genuine and which should not be bothered with.
The industry is also very evolving as new features are added every year and the industry is constantly changing itself to adhere to global financial standards and improve on itself. One of the ways by which these murky waters can be navigated through are the various rankings that exist for cryptocurrencies and that are based on various criteria.
These rankings are released monthly, annually and so on and help to show which cryptos are making the most progress in terms of market capitalization, innovation security and so on.
The latest of ranks was reported on July 1, 2019, when Coinmarketcap stated that the Fundamental Cryptoassets Score Metric had been released and that Tron, the Justin Sun-led token had ranked fifth on the list.
This particular metric takes into consideration certain practices such as developer activity and the process of transaction data. In this case, Tron scored a total of 861 and 26 points away from the 887 points scored by bitcoin, which is the world's most popular token.
According to @coinmarketcap on July 1, #TRON #FCAS ranked 5 in top 10 coins, with a score of 861 – A rating, only 26 points away from #BTC 887. @flipsidecrypto is single, consistently comparable value to measure crypto project health. #TRONICS, let's make #TRX score higher. $TRX pic.twitter.com/fwGDKel17u
— Justin Sun (@justinsuntron) July 1, 2019
According to Carlyne Chan, who is the head of Global Marketing at CoinMarketCap, the metric was a way for users to have a more transparent view of the evolution of digital assets and help them make a more informed choice when spending their money.
“If I am a new user coming in with more tools and fundamental analysis like FCAS the focus will be more holistic as opposed to only looking at the front page with the price,” she said.
One thing to note about this ranking news is that while Tron had a respectable place in the list, it was behind Ethereum who scored 880 points. It should be noted that in Ethereum and Tron have been in a bit of a rivalry, particularly in the Dapp market.
However, Tron supporters have stated that the score is a respectable one considering that Tron had previously been called a valueless cryptocurrency and nothing but a marketing gimmick and this is a good place to start. The FCAS system is looking to be comparable to the price-to-earnings ratios that are used to analyze traditional stocks.
This is true as the traditional financial market has rankings for various companies, stocks, assets and so on and it only makes sense that the crypto industry has one of their own. The reason for this is that there needs to be a concrete method of ranking the value of an asset and it cannot be left to mere opinion.
The industry needs a definite method of calculating the value of token so that it is more organized and will be more appealing to traditional investors.
Tron, on their part, works with the principle of improving their applicability and use cases as well as looking into strategic partnerships and acquisitions such as their acquisition of BitTorrent. In their most recent weekly Dapp report, it was stated that:
“The number of #DApp has increased by 10, reaching 495. DAU has decreased slightly and stayed around 51K. The total volume of transaction marked around 97M USD. Other data remained stable. #TRON #TRX $TRX”