New Crypto Ratings Index Boosts EOS, Tron and Ethereum – Shuns Bitcoin, XRP and Litecoin
China’s Center for Information and Industry Development (CCID) just released its latest crypto ratings index. The government-sponsored index ranks the top cryptocurrencies according to the performance of their basic tech, applicability and creativity.
The index continues to favor smart contract platforms, with EOS, Tron and Ethereum once again taking the first, second and third spots, respectively. This edition highlight’s China’s lack of affection for pure digital currencies, placing three of the largest cryptocurrencies by market cap near the bottom of the list: Bitcoin at number 15, XRP at number 18 and Litecoin at number 32.
China continues to draw a hard line between blockchain and cryptocurrency. The country is strongly encouraging enterprises to build on blockchain while simultaneously enforcing a strict ban on domestic cryptocurrency trading.
On Thursday, the Beijing Internet Finance Industry Association issued a warning advising people to watch out for initial coin offerings, initial exchange offerings, stablecoins and digital currencies of all kinds, saying they’re “not really based on blockchain technology, but take the opportunity to speculate on the concept of blockchain, which seriously disrupts the normal financial and economic order and brings social risks.”