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 was the level of interest in the report, the company’s website was knocked offline as interest peaked on Wednesday morning. Weiss Ratings include some controversial scores for currencies such as bitcoin and ethereum that are sure to spark debate.
Crypto’s Award Season Arrives
Independent ratings agency Weiss Ratings was onto a winner the moment it announced it would be scrutinizing the cryptocurrency markets. Crypto enthusiasts were intrigued to see what an agency from the realm of traditional finance would make of their topsy-turvy and volatile world, in which meme coins can attain $1 billion market caps and tokens for vaporware projects can soar higher still. Wall Street was 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.
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. In a report issued today, the company explained: “A grade of A or B can also be interpreted as the investment rating equivalent 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, Read More Here