Weiss Ratings Ranks XRP, EOS, Bitcoin As Top Cryptocurrency Projects

[Pegasus]

Weiss Crypto Ratings has published its annual outlook report on industry and market trends for cryptocurrency. According to the report, XRP, EOS and Bitcoin are the top three cryptocurrencies on the market in terms of technology and adoption.

Among the salient points reviewed in the report, Weiss was quick to point out that adoption for cryptocurrency remains high and on the rise, despite lingering coin prices, particularly through the first three months of the new year,

“Since prices have fallen so dramatically, many people assumed that real-world adoption of cryptocurrencies must have done the same. But the data shows this isn’t the case. An important segment of the industry enjoyed remarkable growth in on-chain transaction volume, network capacity and network security, often powered by an evolution in the underlying technology.”

The report went on to rank the top 10 cryptocurrencies with the “best combination of technology and adoption.” XRP took first place, with EOS and Bitcoin rounding out the top 3. Ethereum, Cardano, Steem, NEO, ZCash, Litecoin and Stellar also placed in the top 10 for the Weiss rankings. Although the Weiss ranking did not take into account investor risk and reward when issuing their rating, they did analyze tech/adoption as an indicator for long-term investors, in addition to the impact of more short-term factors.

Weiss found XRP, EOS and Bitcoin to be the three cryptocurrencies most likely to dominate in both the near and long-term, stating,

“XRP is best positioned to compete with SWIFT; EOS is the leading cryptocurrency challenging Ethereum; and Bitcoin is the most likely to become a popular store of value for savers and investors.”

Weiss ratings founder, Marin D. Weiss, explained that his company analyzed the growth rate for cryptocurrency over the last year and found a massive boost in transaction volume and network capacity, even through falling coin prices throughout 2018,

“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.”

According to the analysis published in the Weiss report, which examined the growth of daily user transactions between February 2018 and February 2019, top ten cryptocurrencies EOS and TRON both made substantial gains. EOS saw its daily user transactions rise from 7 thousand per day to 4.8 million, with TRON seeing a similarly meteoric rise during that timespan of 3 thousand to 1.9 million. WAX coin and Bitshares also made substantial leaps in daily volume, with the former jumping from essentially zero to 4.4 million.

Weiss also reports that EOS is the top cryptocurrency in terms of on-chain transaction volume, with 14 times the daily use of Bitcoin and eight times that of Bitcoin. As Weiss outlines in the report, “not all transactions are equal in quality,” but finds that other metrics contribute to EOS rapidly becoming “an important player in the industry.”

Source