Weiss Ratings: 5 Altcoins’ Technology Better Than Ethereum
Well-known financial ratings agency calls five altcoins, including Polkadot and Cardano more technologically advanced than Ethereum.
The latest update from Weiss Ratings shows Cardano (ADA), Polkadot (DOT), Tezos (XTZ), Cosmos (ATOM) and Fantom (FTM) have “excellent” technology ratings, compared to Ethereum’s “good” standing.
Ethereum (ETH) stands behind the five altcoins with a “good” rating, alongside Holo (HOT), Iota (IOTA), Grin (GRIN), Bitshares (BTS), Algorand (ALGO), and Nexus (NXS).
Weiss Ratings says it uses a specific model calculating and comapring thousands of data points when it ranks crypto asset in various categories such as technology, adoption, investment risk and market momentum.
Ethereum’s overall rating leads the market with an “A-” ranking, followed by Bitcoin (BTC) with a “B” rating. Stellar (XLM) and Cardano (ADA) are ranked overall with “B-” rating.
The rating agency analyzes the market as a whole. In a recent blog post, analyst Marija Matic shares her take on the crypto market following the passing of El Salvador’s monumental bill to adopt Bitcoin as legal tender.
“Bitcoin is still holding to around 15% gains in the aftermath of the bullish news from El Salvador.
While we’re not out of the woods yet, Bitcoin’s futures open interest is growing, with futures open interest in June up around 20%. This indicates that traders are becoming more bullish.”
She highlights that fundamentals haven’t changed, but also gives warning that the bulls aren’t out of the woods just yet.
“Neutral funding rates, increasing open interest and leverage trading are bullish signs that the downward trend may be reversing. However, trading volume is still low, and investors need to come out of the ‘fear’ zone.
Weiss Ratings has a track record for providing financial market research and analysis for over 30 years, and published its first crypto rankings in early 2018.
