According to an experienced financial ratings agency, five cryptocurrency projects are more technologically advanced than Ethereum.
The latest update from Weiss Ratings shows that Cardano (ADA), Polkadot (DOT), Tezos (XTZ), Cosmos (ATOM) and Fantom (FTM) have “excellent” technology ratings.
Ethereum (ETH) lags behind Holo (HOT), Iota (IOTA), Grin (GRIN), Bitshares (BTS), Algorand (ALGO) and Nexus (NXS) with a “good” rating.
Weiss Ratings says it all uses a unique model that measures thousands of data points while classifying each crypto asset into categories such as technology, adoption, investment risk and market dynamics.
In the company’s overall crypto ratings, Ethereum (ETH) leads the market with an “A -” ranking, followed by Bitcoin (BTC) with a “B” rating. Stellar (XLM) and Cardano (ADA) follow the industry leaders with a “B” rating.
The rating agency also analyzes the overall market. In a new blog post, analyst Marija Matic says Shares their stance on the crypto market following the passage of El Salvador’s monumental bill to introduce Bitcoin as legal tender.
“After the bullish news from El Salvador, Bitcoin is still growing by around 15%.
While we’re not out of the woods just yet, Bitcoin’s open interest in futures is growing, with open interest in futures up about 20% in June. This indicates that traders are becoming more bullish. “
She stresses that fundamentals haven’t changed, but also warns that the bulls are not out of the woods yet.
“Neutral financing rates, rising open interest and leverage trading are optimistic signs that the downward trend could be reversed. However, the trading volume is still low and investors need to get out of the “fear zone”.
Weiss Ratings has been offering financial market research and analysis for over 30 years and published its first crypto rankings in early 2018.
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