News is spreading about a Weiss Ratings update, with the most notable update the fact that NEO is the first cryptocurrency ever to receive an A-rating from Weiss.
LEAKED WEISS RATINGS
The news comes from a leaked Weiss Ratings report, but not officially from Weiss Ratings themselves yet. You can view the chart with ratings that is making it's round below:
As you can see NEO is now rated A-, or 'Excellent', which makes it the highest rated cryptocurrency by Weiss Ratings. What prompted Weiss Ratings to give NEO a higher score than it's competitors is still unknown and we will have to wait for the official report to hear any justifications.
The news was however confirmed by Chinese media, if the Twitter message below is to be believed (I can't read Chinese):
(source: Twitter)
These ratings should not be misunderstood. They are not judgements on the blockchain, but rather ratings based on how well they are perceived as an investment. As such the technicals are only part of the equation and Weiss Ratings pays a lot of attention to adoption, long term vision and investment opportunity as well.
Normally when it comes to ratings it is the norm that 'A' are good projects, 'B' are alright ones, 'C' are mediocre ones and 'D' ratings indicate it's terrible. For the Weiss ratings this is not the case. Their model considers a 'B' grade to be 'Good' and 'C' to be 'Fair'. As such a rating of 'C' is to be taken as the median norm. This explains why a lot of grades on the chart are ranked in the C-range.
If you want to know more about how Weiss Ratings and what they mean, they've written an extensive article explaining their ratings which should answer a lot of questions.
STEEM
STEEM is also on the chart, but on a different screenshot. It was rated pretty high last time as well, but it's holding steady at a B-rating currently which makes it one of the highest rated blockchains on the charts:
It's interesting to see what Weiss considers to be the top cryptocurrencies. In order of rating they are:
- NEO A-
- Ethereum B+
- Stellar B+
- Ripple B+
- Lisk B
- STEEM B
- EOS B-
- Decred B-
- Cardano B-
..and then the C's and D's. There may be more crypto's that are rated higher but they do not show up on these leaked images.
For some of these projects I can see why Weiss considers them to be better investments than others. In other cases, I really wonder about the technical knowhow of the Weiss Ratings 'experts'. When they give a project such as Ripple a high rating, it makes me wonder if they are aware that banks aren't adopting XRP and the token value proposition is very weak. I am also not entirely sure if Decred should be among these top contenders either, despite that I think it's a good project, it's chances of adoption are significantly less than others.
It seems to me like Weiss is looking at cryptocurrencies through a certain lens which may be biased from a certain point of view. But it is hard to pinpoint which lens. When I look at part of the list I see a few crypto's that are aiming to work with the existing order: Ripple, Stellar, NEO, EOS, Cardano, Lisk and Ethereum are all enjoying a lot of corporate interest. On the other hand I have difficulty putting these side by side with crypto's like Decred and STEEM where decentralization and censorship resistance play a much larger role, and where I see a lot less corporate interest.
Honestly I feel like some important crypto's are missing in the list of top contenders, and there are a lot in the list that I feel shouldn't be. If I were to give investment advice and somebody asked me to review their portfolio and it was compromised of the ones above, I would tell them to drop about 50% of those coins at least in favor of others.
I don't put much stock in the opinion of Weiss when it comes to my own investment decisions, but I do like to know what Wall-Street-type people think is a good investment. After all, us crypto-enthusiasts are only part of the market. There's merit in knowing what the other market participants are thinking. And besides, as a big NEO fan I don't mind seeing my favorite crypto ranked at the top!
I'm a fan of NEO the narrative project caught my interest and the market of China alongside binance it is a coin to watch.
I agree, once China officially re-enters crypto it should be very good for NEO!
Indeed and they will have Narrative in all likelihood as their social media platform since it was crowdfunded using NEO I look forward to seeing which ecosystem and platforms scale in the long run.
If NEO can get official support from the Chinese godvernment, it can fly to new high in no time. If the Chinese Government would force Chinese crypto-start ups to build on the NEO-blockchain, then NEO is the investment of a lifetime right now. We know the Chinese govrnement is already positive towards the platform, so one only can hope... :)
Definitely! NEO got this far without China, but when China returns to crypto it's going to be nuts! :)
Yea, it seems like we're all waiting a bit for Asia to come with the big bucks again :p
Sounds good to me ;-)
Oh yes, I am really loving my NEO more and more. It's the one coin I never mind 'shilling' if you can call it that!
After missing some of the major trains like ETH and Dash, I am so looking forward to the future where the residual income is a nice extra, like owning a Dash masternode! It's just a shame that I don't have enough to live off of, unless it goes to 10K per NEO which is rather far fetched.
Or..
Wait..
Let me do some calculations..
$600-700 billion market cap would be required roughly. Hmmmm.... is that really impossible??
It sounds like a lot, but if Facebook is worth that much.. is it? Maybe I can still retire early after all if these three lifetimes of blessings continue!
Weiss rating is interesting but it's payable...
Is it, though? I didn't find any reports of rumors about it.. If you've got information I'd love to read it, I'm always on the lookout for these type of things!
This post has received a 1.92 % upvote from @drotto thanks to: @pandorasbox.
Great post :) Thanks for sharing... Crypto is going to take over the world :D
Interesting assessment. Thanks!
I am not even close to an expert but even I have heard Ripple has problems! I was surprised to see it ranked so high.