Today, the Steem currency received a “buy” equivalent rating from a historic independent rating agency. Now, the Steem currency is up almost 30%!
Steem Rated a "Buy" By Investment Rating Agency! (Up almost 30%)
I woke up today to see Steem up almost 30%! What could be the reason?
One notable piece of news is, today, a rating agency announced they are publishing the first ever ratings on cryptocurrencies. Weiss is an independent rating agency and one of (if not) the first to issue grades on various crypto assets.
While Bitcoin received a C rating, and a few coins received low ratings, Ethereum and Steem each received a B rating (technically a B- for Steem)! As Weiss notes, the A and B ratings could be viewed as similar to a “buy” rating that we would see on typical stock research reports.
The rating agency will be cover a total of 74 currencies to start, but is only disclosing a handful; to get the remainder, there is a subscription service. I do not have access to the full reports/ratings but I might consider buying it at one point.
The fact that Steem is mentioned seems promising, maybe this means, in the view of the rating agency, there is positive tech and use case that they apparently cannot ignore. Again, I have not read the report but am thrilled to see this positive exposure for the platform/currency.
What do you think?
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Disclaimer: This is not investment advice, I am not an investment professional. This is not an endorsement by me of the accuracy of the ratings agencies or currencies mentioned above. If you decide to buy Steem, do so based on your own research/decision, I am not your personal advisor and not recommending anything to you either way. This post does not create a client relationship between author and reader.