As the cryptocurrency and blockchain industry moves into the mainstream, more companies and organizations will need to start taking notice to keep up with the latest technology. The latest to acknowledge the ever-growing presence of digital currencies is Weiss Ratings.
In a notice on their website, the independent financial ratings agency announced that they were going to issue letter grades on cryptocurrencies. The company, founded in 1971, claims to be America’s only 100% independent ratings agency covering stocks, ETFs, mutual funds, insurance companies, banks, credit unions, and now virtual currencies. It currently rates over 55,000 institutions and investments.
According to the announcement, the crypto ratings will be released on January 24th and include Bitcoin, Ethereum, Ripple, Bitcoin Cash, Cardano, NEM, Litecoin, Stellar, EOS, IOTA, Dash, NEO, TRON, Monero, Bitcoin Gold, and many others.
It is a first for a financial ratings agency which claims that ratings are based on a “groundbreaking model that analyzes thousands of data points on each coin’s technology, usage, and trading patterns.”
Weiss Ratings founder Martin D. Weiss stated:
Many cryptocurrencies are murky, overhyped and vulnerable to crashes. The market desperately needs the clarity that only robust, impartial ratings can provide. We’re proud to be the first to bring that benefit to investors — to help them cut through the hype and identify the few truly solid cryptocurrencies. Our ratings are based on hard data and objective analysis. But they’re bound to create controversy, including some grades that may come as a surprise to some people.
Read Full: Weiss Ratings to List Cryptocurrencies