Watch Out for the Weiss Cryptocurrency Ratings to Release Next Week
Weiss Announces First Bitcoin and Cryptocurrency Grades by U.S. Rating Agency
Risky Crypto Market to Get the Clarity Only Impartial Ratings Can Provide
Palm Beach Gardens, FL — Weiss Ratings, the nation’s leading independent rating agency of financial institutions, will issue letter grades on cryptocurrencies, including Bitcoin, Ethereum, Ripple, Bitcoin Cash, Cardano, NEM, Litecoin, Stellar, EOS, IOTA, Dash, NEO, TRON, Monero, Bitcoin Gold and many others.
The new Weiss Cryptocurrency Ratings, to be released January 24, are the first by a financial rating agency. They are based on a groundbreaking model that analyzes thousands of data points on each coin’s technology, usage, and trading patterns.
“Many cryptocurrencies are murky, overhyped and vulnerable to crashes. The market desperately needs the clarity that only robust, impartial ratings can provide,” said Weiss Ratings founder, Martin D. Weiss, PhD. “We’re proud to be the first to bring that benefit to investors — to help them cut through the hype and identify the few truly solid cryptocurrencies. Our ratings are based on hard data and objective analysis. But they're bound to create controversy, including some grades that may come as a surprise to some people.”
Weiss Ratings, which began in 1971, rates 55,000 institutions and investments. Unlike Standard & Poor’s, Moody’s, Fitch and A.M. Best, Weiss never accepts compensation of any kind from the entities it rates. Its independence and accuracy have been noted by the U.S. Government Accountability Office (GAO), Barron’s, The Wall Street Journal, and The New York Times, among others.
Martin Weiss and his lead analysts will be available for interviews at the North American Bitcoin Conference in Miami, January 18–19.
My Commentary
Investors in the traditional markets pay a lot of attention to these ratings. I think it will be interesting to note that they imply most cryptos will get a poor rating, while the ones that get high ratings will come as a surprise.
If you read my posts, you will be aware that by objective metrics Steem is leading the pack in the crypto space. If the agency really does focus on objective metrics, it should end up with a high rating. That would certainly be a surprise to the broader crypto market, but should be no surprise to us.
The real question will be how objective these ratings really are. Rating agencies don't inspire the same confidence that they did just a few years ago. It will be interesting for me to see how these ratings are done, if they are so transparent/public in their analysis. I am sure more conventional investors will find these ratings of interest as well.
Please consider voting for me as witness!
Thank you for the heads up. Quite familiar with Weiss and their no conflict of interest ratings.
Will be interesting to see how this pans out. Agree. Steem should be easily in the top 10, if not 5.
Thanks for the info! I wonder how they want to rate crypto currencies? I mean in fact, nearly every project which has not a big known company behind could be disappear next week without consequences. So rather they will rate them all quite bad or what will they take into account?
They claim it will be based on objective metrics. If they use such metrics as transactions, users, usage, scalability etc. it will be hard for Steem not to find a spot at or near the top.
As much as i consider it to be really good for the cryptocurrency world, i just hope the rating would be impartial and accurate as it will go a long way in helping potential investor understand and see clearly which cryptocurrency is doing well. Look forward to it. Thanks for the post. Kudos!
As I think it would be a great thing
-cheers-
Currency is numbers and numbers never end. If it takes currency to be powerful, your search for power will never end.
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@demotruk
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