In the latest update of Weiss ratings, after evaluating 111 tokens of more than 3000 studied cryptocurrencies. Only 4 cryptocurrencies were rated as strong buys by the firm.
Crypto-coins get a rating from E- to A+. A cryptocurrency is considered to give a “buy” when it has a rating higher than B-, If it’s between C- and C+, it is considered to be “hold” moreover if it’s lower than D+, it is considered a “sell”.
The recent study concluded that XRL, XKM, ADA and EOS were rated higher than “B”, which means that the risk assessment firm recommends their purchase and accumulation in the short term.
“These are among the few that are beginning to put it all together — the advanced tech and adoption in the real world. They’re not all the way there yet. But they’re making good progress.”
– The report cited.
And the report also stated that XRP and Stellar have the potential to be useful for the banking industry while EOS and ADA will have more impact at the level of building decentralized communities.
“XRP and Stellar are appealing to businesses and other organizations, mainly for speedy financial transfers. In contrast, EOS and Cardano are designed more as virtual communities, with each participant empowered to influence the future direction of the project, spanning a broad range of applications.”
The Weiss team has been quite bullish about Ripple’s XRP. They said
“Think about that. They’ve made remarkable progress during a period of massive investor losses, broad reputational damage to the industry, and worse. So, imagine what their market performance could be like once the crypto markets firm up and investor interest returns in a big way!”
Meanwhile, Bitcoin got a rating of “C”. The cryptocurrency hasn’t had as many technological innovations as other developments (e.g. ADA and EOS).