Weiss Ratings Ranks Ripple (XRP) as Top Coin in Terms of Technology and Adoption

Weiss Ratings, LLC has assessed virtual currencies in terms of adoption, technology, and returns, inter alia, through its Weiss Crypto Ratings division. XRP came out as the topmost coin in terms of technology and adoption. The digital asset rating unit investigated 122 cryptocurrencies in various measurements throughout the market. The report sought to remove what it describes as an error among the observers “who appear to assume that use and practical applications have been declining across the industry.”

XRP is best placed to compete with the global financial communication network Swift, according to Weiss. EOS is Ethereum’s most challenging cryptocurrency, and Bitcoin is likely to have become a popular value store.

This report ranked the top 10 cryptocurrencies as the “best technology and adoption combination.” XRP was the first to round off the top 3 of EOS and Bitcoin. While the Weiss ranking did not take the risk and rewards of investors into account when issuing their rating, they did not take account of the effect of more short-run factors but considered only tech and adoption as indicators for long term investors.

Weiss reports that EOS is the leading cryptocurrency with 14 times the daily use of Bitcoin and eight times the daily usage of Bitcoin in terms of transaction volume in chains. “Not all transactions are of the same quality,” says Weiss in the report, but finds that other measures quickly help to make EOS “an important player for the industry.”

On the other hand, the Weiss Ratings has called the recent upward surge of Binance Coin as artificial and unsustainable. This increase in price happened after the announcement of their launchpad service.

It is not the first time that BNB has seen such an upturn so much so that since the start of this year the seventh largest market cap cryptocurrency of around $ 2.4 billion is increasing. At the beginning of January, BNB shot 183 percent from 6 dollars to 17.5 dollars last week.

The launchpad is a token of Binance Labs sales platform. The platform is intended to be used for new cryptocurrencies. The token sales for BitTorrent (BTT) and Celer have been successfully completed once it has been launched. While the launch of the Binance Launchpad has led to an upturn in the price of the BNB Coin, the platform’s favoritism for whales has been a subject of criticism by Binance Labs.

For over three decades, Weiss Rankings provided consumer and business finance market research and analytics, and in January 2018 published its first cryptocurrency rankings.

Although the top 4 cryptos have the highest return on investors, Weiss warns investors against loss risk, which in the digital currency markets are likely to be higher than in any other market.

Ankita Baruah

Ankita has recently joined the CryptoNewsZ team. She has a master's degree in English Language and Literature and 10+ years of experience in dealing with different types of content for print as well as digital media. Writing is her passion. Precision and originality is what she believes in and makes sure she abides by them in her write ups. When Ankita is off work, you will find her engrossed in books or enhancing her culinary skills!! You can also mail her at [email protected] to discuss anything related to her reports.

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