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EOS, the Best Crypto, Followed by XRP, and Only then by Bitcoin, Reports Weiss Ratings

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by Darya Rudz · 4 min read
EOS, the Best Crypto, Followed by XRP, and Only then by Bitcoin, Reports Weiss Ratings
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According to Weiss Ratings, EOS, XRP, and Bitcoin will probably succeed this year, despite the fact that some have given up on cryptos because of price declines.

Weiss Crypto Ratings has published an annual outlook report on crypto industry and market trends for digital currencies. The results are quite surprising.

Having studied 122 cryptocurrencies and analyzed their market performance in terms of various metrics, Weiss Crypto Ratings has found out that the top cryptos with the best combination of adoption and technology are EOS, XRP, and Bitcoin. According to the rating group, these coins will probably succeed this year, despite the fact that some have given up on cryptos because of price declines.

Weiss Crypto Ratings stated:

“Nothing could be further from the truth. Leading cryptocurrencies now enjoy three times more volume in user (on-chain) transactions than they did in early 2018. The industry’s network capacity and security have improved dramatically. And the underlying technology has evolved with new, more efficient ways to create digital assets.”

Weiss Ratings founder, Martin D. Weiss, said:

“Despite lower prices since early 2018, our ratings 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. Equally important is our finding that these improvements are often powered by an evolution in the underlying technology. Therefore, for those willing to take the risk, the best time to invest could be very near.”

Weiss Ratings’ Evaluation System

Weiss Ratings is the only financial rating agency that provides objective grades on cryptocurrencies. Its system of evaluation includes several grades: A stands for ‘excellent’, B is ‘good’, C-range is ‘fair’, D-range means ‘weak’, and E is ‘very weak’.

The highest grade assigned was a ‘B-‘ (good), shared by EOS, XRP, Bitcoin, and Binance’s BNB. 27 cryptocurrencies received an overall rating in the C-range, 75 coins are in D-range, and 16 are in the E-range.

Weiss Ratings considers EOS as the leading cryptocurrency challenging Ethereum to become the backbone of the new internet. XRP is ‘best positioned to compete with SWIFT, the global network for interbank money transfers’. As for Bitcoin, upgraded with the roll-out of its Lightning Network, it is ‘the best positioned to become a popular store of value for savers and investors’.

Among the top 10 currencies for technology and adoption are also Steem, NEO, Stellar, Zcash, and BitShares.

The overall Weiss Crypto Ratings also includes risk and reward factors. As a matter of fact, the group has two top 10 lists: one considers possible risks and rewards associated with investing in cryptos, and the other one is more focused on technology and adoption.

Adoption relates to a blockchain‘s real-world network security, network capacity, speed, scalability, market penetration, decentralization of block production, dev participation, public acceptance, and estimated energy consumption. Risks include price fluctuations, the frequency of peaks and troughs, and market bias.

Weiss Crypto Ratings explained:

“Investors must not ignore the risk of loss, which remains far higher in crypto markets than virtually any other asset class. Thus, the overall Weiss Crypto Ratings, which include risk and reward factors, are lower than the Weiss Tech/Adoption grades.”

Weiss Crypto Ratings are updated on a weekly basis.

EOS is Waiting For a Big Event

For EOS, the top position in the rating is an advantage in its constant competition with Ethereum that faces difficulties with scaling. Currently, EOS is getting ready for a breakout: its founder Dan Larimer has stated that in June, the network will release ‘the biggest news since EOSIO announcement.’ EOS released EOSIO version 1.6 in January, and since then, there has been no news from the developers.

Making such a statement, Larimer refused to give any further comments. However, he took at the flood to criticize Ethereum, Cardano, and Litecoin.

Larimer said:

“Quality over quantity. ETH has many devs because their solutions are overly complicated by poor initial design […] No amount of Devs can fix what is wrong with ETH unless they pitchfork to something like EOSIO.”

He added:

“The fact that you consider LTC and EOS in the same category shows that you only care about currency use as a token.”

It is unclear what this big event in June will be, but it is obvious that the price of EOS may enjoy significant run-ups.

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