Weiss Ratings is impressed by the relatively new crypto asset Tezos (XTZ).
The ratings agency says the technology that powers Tezos outshines leading cryptocurrencies Bitcoin (BTC), Ethereum (ETH) and XRP.
Tezos is a smart contract proof-of-stake blockchain designed to give people who hold the cryptocurrency a stake in the platform in terms of its development and governance. Stakeholders can help power the network and earn rewards in return.
Despite Bitcoin’s status as the leading crypto asset, it’s excluded from the firm’s list of top 10 coins by technology. Ethereum, the second largest crypto by market cap, is ranked fourth, but Weiss says it will likely rise in future rankings.
“We have already upgraded Ethereum’s Technology grade once. And further upgrades are very possible as #Ethereum 2.0 rolls out. This combined with its high adoption rating make Ethereum very attractive indeed.”
Weiss Ratings ranks more than 120 digital assets based on technology, adoption, risk and momentum to help investors identify cryptocurrencies that have the best odds for long-term success.
Weiss Ratings Top Crypto Assets by Technology
- Tezos
- Cardano
- Cosmos
- Fantom
- Ethereum
As for the overall crypto rankings, which consider adoption, technology, market momentum and investment risk, Weiss has Bitcoin in the number one slot, followed by Ethereum. Next is the IoT and micropayments-focused asset IOTA which takes the number three slot, ahead of XRP.
Weiss Ratings Top Crypto Assets Overall
- Bitcoin
- Ethereum
- IOTA
- Ripple
- LiteCoin
As for the state of the crypto markets, the agency says the economic aftermath from the coronavirus pandemic may set up a future digital asset bull run. In the age of trillion-dollar stimulus packages, fiscal lifelines and pandemic printing, Bitcoin will soon undergo its halving event, reducing the amount of new BTC that will enter the market.
“US debt is not only its biggest in history — it’s rising faster than ever. And it’s being monetized.
So while the world engages in unprecedented levels of quantitative easing, Bitcoin is getting ready for its quantitative hardening.”
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Tithi Luadthong
