Weiss Ratings Ranks Litecoin (LTC) As Excellent In Both Adoption and Investment Returns
The investment data provider Weiss Ratings has recently ranked Litecoin (LTC) as excellent in two new categories. Now, the asset has the highest rating on both the “investment returns” and “adoption” category.
Litecoin, which is currently the fourth largest cryptocurrency by market cap, has been classified as excellent in these two categories, but also as “fair” when it comes to its risk factor. Because of this, the final grade of the token was B- when measuring the risks against the rewards.
In related news, EOS, one of the top cryptos of the market, recently had its rank on Weiss Ratings downgraded as the company was concerned that the token was becoming too centralized. EOS has 21 block producers who run the network and this has caused several centralization concerns until now.
Litecon was one of the first projects to follow Bitcoin’s launch. It was released back in 2011 as a fully open-source project. The idea was to be an alternative to Bitcoin that could be faster and cheaper to use. If Bitcoin was digital gold, Litecoin was created in order to be the digital silver, according to its creator Charlie Lee.
Since its inception, the Litecoin Foundation is an entity that is devoted to help the LTC ecosystem and to support its developers and community. Recently, the foundation started a new partnership with Bibox Exchange and Ternio in order to launch BlockCard.
BlockCard is set to be a cryptocurrency debit card that will let users spend their Litecoin directly from the card instead of having to exchange it for cash before.
In another important partnership, the Litecoin Foundation has also teamed up with a company called Beam in order to improve the scalability and the privacy of the LTC protocol. The partnership was motivated by the creator of the team, Lee, who believed that using a fungibility protocol was one of the best ways to make the cryptocurrency better.
He also affirmed, at the time, that the next battleground in which cryptos will have to fight for their lives is in the fungibility and privacy area, as confidential transactions are generally not very liked by regulators around the world.
Initially, the token was priced at only $4.30 USD but now it is worth $116 USD. Since 2017, LTC has suffered from several price swings. Its price went as up as $141 USD in December 2017 but it dropped to $23 a year later. At the time of this report, the market cap of the token is around $7.4 billion USD.