Fresh Weiss Ratings for Cryptocurrencies Award No – A – s and Score Bitcoin a C – Bitcoin News
Financial ratings agency Weiss has just released its much-hyped cryptocurrency review. The eagerly-anticipated report rates 74 of the most popular cryptocurrencies on the market, scoring them from A to D. Such wasgoed the level of rente te the report, the company’s webstek wasgoed knocked offline spil rente peaked on Wednesday morning. Weiss Ratings include some controversial scores for currencies such spil bitcoin and ethereum that are sure to spark debate.
Crypto’s Award Season Arrives
Independent ratings agency Weiss Ratings wasgoed onto a winner the uur it announced it would be scrutinizing the cryptocurrency markets. Crypto enthusiasts were intrigued to see what an agency from the field of traditional finance would make of their topsy-turvy and volatile world, te which meme coins can attain $1 billion market caps and tokens for vaporware projects can soar higher still. Wall Street wasgoed also keen to see what Weiss Ratings had to make of the crypto markets, and specifically which coins they would legitimize and which they would shun.
Monero’s lead developer wasn’t amazed.
Weiss So Serious
According to Weiss Ratings, bitcoin scores a C+ (“fair”) while ethereum earns a B (“good”), and steem a B-. That’s right: steem scores higher than bitcoin. No cryptocurrency earns the highest possible rating of an A. Ter a report issued today, the company explained: “A grade of A or B can also be interpreted spil the investment rating omschrijving of “buy.” At the same time, investors should not be overly alarmed by a C rating.” Electing not to invoke crypto’s most famous meme, they continued: “It is a passing grade, and for investors, implies the omschrijving of ‘hold.’” Grades of D and E, are the omschrijving of a sell, with the release citing crypto minnows Novacoin and Salus spil examples of a D.
Predictably, the few coins that gained the Weiss Ratings seal of approval today have leaped ter price, with cardano and neo two of the big winners. Each wasgoed awarded a B minus (2nd only to ethereum and eos) and recorded dual digit growth overheen the past 24 hours. The vast majority of coins on the list including bitcoin (C+) and bitcoin contant (C-) received average scores.
Twas the Night Before Weissmas
The night before cryptocurrency’s Weiss Ratings were published, traders on 4chan’s /biz/ message houtvezelplaat speculated overheen how their anointed coins would fare and debated the extent to which Weiss’ winners would pump off the good news. Ter advance of Weiss Ratings publishing the gegevens, a number of purportedly leaked copies surfaced on the web. Some were evidently fakes, designed to manipulate market prices, but others were genuine. Depending on which version you read, NEM wasgoed either a B++ or a D and IOTA wasgoed either a C or a B+.
A purported screenshot of the utter report, which is paywalled.
Rate and Hate
Explaining the thinking behind the ratings system, Dr Martin Weiss told CNBC: “We have built a laptop monster that looks at cryptocurrencies from many different angles and proves a rational, rigorous and reasoned research that investors need so despairingly ter this space”.
Thesis criteria include a Risk Index, Prize Index, Technology Index and Fundamentals Index. Thesis categories will be nothing fresh to crypto traders who’ve bot familiar to assessing coins ter this manner for years. They don’t need Weiss Ratings’ ringing endorsement to understand thesis matters, but are shrewd enough to appreciate that the zoeklicht this sheds on the chosen cryptocurrencies will do their valuation no harm. “All else being equal, spil a cryptocurrency overcomes its individual challenges, it’s likely to be upgraded promptly,” concludes the report.
Weiss Ratings wasgoed founded te 1971 and the agency has since gone on to rate more than 55,000 institutions and investments. While the accuracy of its cryptocurrency report is a matter of some debate, its very existence gives greater credibility to crypto assets te the eye of the masses.
Do you think Weiss Ratings carry good weight and do you agree with their findings? Let us know ter the comments section below.
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