EOS and XRP Placed Aside Bitcoin in Weiss Crypto Ratings Annual Outlook
Weiss Crypto Ratings published their report on emerging trends in the crypto market on Tuesday, March 26, and the report has gained attention for placing Bitcoin (BTC) aside XRP and EOS. The report — named “Dark Shadows with a Bright […]
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Weiss Crypto Ratings published their report on emerging trends in the crypto market on Tuesday, March 26, and the report has gained attention for placing Bitcoin (BTC) aside XRP and EOS.
The report — named “Dark Shadows with a Bright Future” — is based on extensive analysis with a sample space of 120 cryptocurrencies, and assigns letter grades to cryptocurrencies based on the quality of the combination of adoption and technology.
XRP and EOS ended up winning big on the report and is touted as the most promising assets. XRP which currently enjoys the title of the world’s third-largest coin by market capitalization as per CoinMarketCap is ranked “A,” and is the “best positioned” to compete with SWIFT — a global system for interbank transactions according to the report. EOS too was awarded an A and was described as the leading cryptocurrency that is challenging Ethereum (ETH) to become the “backbone of the new internet”.
BTC was awarded an A grade for its Lightning Network upgrade and it’s crucial potential to become a popular store of value for savers and investors. BTC is followed by Ethereum (A-) and Cardano (B+), each important due to their smart contract capabilities.
Thorn in the Bushes
It’s not all roses though, as another report dedicated to risk and reward factors paint a very grim picture. Only four coins — EOS, XRP, BTC and Binance (BNB) — can be valued as B-, with none of the currencies getting an A according to Weiss Crypto Ratings.
Weiss Ratings founder, Martin D. Weiss, believes that the best time to invest in cryptocurrencies is near despite the bear markets : “Despite lower prices since early 2018, our rating model gives us hard evidence that a critical segment of the cryptocurrency industry has enjoyed remarkable growth in user transaction volume, network capacity, and network security […] Therefore, for those willing to take the risk, the best time to invest could be very near.”
Major crypto bulls looking forward to a “Crypto Spring” to bring about improvement in the market. Tom Lee, Fundstrat’s co-founder, and pro-crypto Wall Street analyst have opinioned that the industry will experience 9 incremental improvements in the landscape that could ultimately lead to a healthier market. In February, Bitcoin billionaire Zhao Dong speculated that higher valuations will return in 2020.
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