Crypto rating agency Weiss Ratings says 10 cryptocurrencies are now technologically superior to Bitcoin and XRP.
The financial rating agency says it uses a unique model that measures thousands of data points as it ranks each crypto asset in categories such as technology, adoption, investment risk, and market momentum.
According to the US-based analysis firm, Cardano (ADA), Tezos (XTZ), Fantom (FTM), and Cosmos (ATOM) are the four best crypto assets in terms of technology, giving all of them an “Excellent” rating. Holo (HOT), Ethereum (ETH), Iota (IOTA), Bitshares (BTS), Grin (GRIN), and Nexus (NXS) all received a “Good” rating from Weiss. Meanwhile, Bitcoin (BTC) and XRP both received “Fair” ratings.
When it comes to adoption, Ethereum leads the pack with a rating of “A.” Bitcoin comes in at number two with an “A-” adoption grade. XRP, Stellar (XLM), Litecoin (LTC), Dash (DASH), and Tezos all received an adoption grade of “B.”
As for the overall rating, Bitcoin is tied with Ethereum with both cryptocurrencies receiving a “B+” rank. XRP, Stellar, Litecoin, and Tezos closely follow with a “B-” grade.
Meanwhile, Weiss Crypto is also keeping a close watch on the price action of the crypto markets. In a blog post, analyst Juan Villaverde says crypto assets are showing signs of recovery after falling sharply in the past weeks.
“There is a silver lining: we’re starting to see clear evidence – including price action over the seven-day trading week ended yesterday –that an important low may have been established for most crypto assets around Sept. 9.”
According to Villaverde, it is possible that the lows hit early this month is a sign that crypto markets are forming a base in preparation for a bull rally before the year expires.
As for Bitcoin, Villaverde says it remains the clear market leader.
“As we’ve often said, this is critical to a sustainable crypto bull market, as Bitcoin is the go-to asset for new money seeking refuge from the rampant asset price inflation policies being pursued by most central banks.”