Ratings Bombshell Lifts EOS, Bitcoin, And Wider Crypto Market
Story by: Billy Bambrough
A bombshell ratings report from the widely-respected Weiss Ratings has given a boost ethereum rival EOS, sending it almost 20% higher over the last 48 hours, allowing it to take the fourth largest cryptocurrency spot from litecoin, and lifting the bitcoin and wider cryptocurrency market.
Bitcoin has again begun flirting with the $4,000 per bitcoin price, while EOS has climbed to near year-to-date highs with a market capitalization approaching $4 billion and relegating former flavor of the month, litecoin, to fifth place in the CoinMarketCap rankings of most valuable cryptocurrencies.
The bitcoin price has struggled to find a footing above $4,000 after repeatedly crossing the psychological mark.
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The surprise ratings report, tantalizingly entitled Dark Shadows With A Bright Future, has assigned letter grades to cryptocurrencies that have the best combination of adoption and technology and puts EOS above its long-time rival ethereum with an A and A- grade respectively.
Bitcoin, meanwhile, was also given an A grade, up from a C+ after Weiss recognized improvements to its infrastructure, such as the Lightning Network, as was Ripple’s XRP. Cardano landed an A-, for smart-contract capabilities, monetary policy and governance, while steem, NEO, Zcash, litecoin, and stellar each picked up a B+.
“With cryptocurrencies down sharply in price, many observers seem to assume there’s been an industry-wide decline in usage and practical applications. Nothing could be further from the truth,” the report authors wrote.
Original story: https://tinyurl.com/y6xcdceo
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