The price of cryptocurrency markets has lost more than $600 billion in value from its All-Time High valuation in December 2017. The crypto-winter has continued to prolong in 2019 as well, but as the industry experts have expected, the growth and development of Blockchain and cryptocurrency in unprecedented. This was confirmed by the recent research report released by ‘Weiss Rating’: Dark Shadows with a Bright Future.
The highlight of the report is remarkable growth in on-chain transaction volume, network capacity, and network security.
The Report released two lists of cryptocurrency rankings. One ranked the cryptocurrencies by their adoption and technology. The ratings also graded the cryptocurrencies where only three cryptocurrencies achieved grade A. Bitcoin ranked low on the tech department but gained points due to its massive global adoption.
Remarkable Growth of Cryptocurrencies
The primary result of the report highlighted the growth of cryptocurrency in terms of transaction volume. The growth in the transaction volume of these cryptocurrencies has increased 100 fold since a year. While EOS was the highest performing cryptocurrency w.r.t. transaction volume, WAX coin was a surprising new addition to the list. WAX cryptocurrency has almost two times the transaction volume of Tron.
The number of transactions of EOS is 8 times that of Ethereum and 14 times that of Bitcoin.
From an investor’s point of view Weiss also ranked the cryptocurrencies by their risk vs. reward ratio. Hence, more weight is given to price and total market capitalizations. The ratings also acknowledged the fact that since the risk is considerably higher with any cryptocurrency, no ‘token’ was given an A, A- or even B ratings.
The highest ranked cryptocurrencies were EOS, XRP, Bitcoin (BTC) and Binance (BNB) coin with a B- rating.
The ratings have comprehensively shown that while the prices have remained low, there has been significant growth in the coins. The founder of Weiss Ratings reaffirmed his belief in the cryptocurrency markets by citing considerable evolution in the crypto-space.
According to Martin D. Weiss, the founder of Weiss Ratings, “Therefore, for those willing to take the risk, the best time to invest could be very near.”
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Nivesh from Engineering Background is a full-time Crypto Analyst at Coingape. He is an atheist who believes in love and cultural diversity. He believes that Cryptocurrency is a necessity to deter corruption. He holds small amounts of cryptocurrencies. Faith and fear are two sides of the same coin. Follow him on Twitter at @nivishoes or mail him at nivesh(at)coingape.com