One of the most important rating agencies, Weiss Ratings, has released the list of 93 different cryptocurrencies in the market. This time, Bitcoin (BTC), Cardano (ADA), Ethereum (ETH), Ripple (XRP), Stellar (XLM) and Tron (TRX) have been the ones that performed the best.
Weiss Ratings has been launching a monthly ranking on virtual currencies since the beginning of the year that analyzed the most important virtual currencies in the market. In this way, it became the first and only financial rating agency that analyses cryptocurrencies and tokens.
Another important point to mention about this monthly report, is that it has released the full list of tokens for free, something that is usually reserved for paid subscribers.
Martin Weiss, Weiss Ratings’ founder, explained that there are two underlying component grades for each virtual currency. The first grade scores the cryptocurrency technology and adoption, while the other rates the risk to reward ratio.
About this, Martin Weiss, explained:
“Developers want a grade based exclusively on what their cryptocurrency project has achieved in terms of technology and adoption, regardless of market fluctuations. In contrast, investors seem to be more interested in how much money they can make or lose. Our overall Weiss Rating is a blend of both. But now, we are also breaking out the components so users can better understand what’s under the hood.”
According to the latest report, Bitcoin, BitShares, Cardano, Decred, EOS, Ethereum, IOTA, NEO, Ontology, Ripple, Steem, Stellar Lumens, Tron and Zilliqa, obtained a B- to B ranking. This new list included ten new virtual currencies, ATMChain (D-), Bitcoin Private (D-), Bytom (C ), Nav Coin (C ), Nexus (NXS), Ontology (B-), RChain (C ), SIBCoin (C-), Vertcoin (C ), and Wanchain (C ).
It is also important to mark that this is the first time that the inform shows the different ranking according to their Investment Risk/Reward and Technology/Adoption.
There was no cryptocurrency with an A+, A, or A- rating. Aside from the 14 ranked in the B range, 54 have obtained C+,C or C-, 16 obtained a mark among the D’s, while 9 have been rated in the E territory.
The main explanation that Weiss gave about why there have been no virtual currencies ranked with A, is because it is very difficult to have a risk-reward balance that’s comparable to other traditional investments. Additionally, the rating is based on a complex algorithm that measures both adoption and technology.