Weiss crypto ratings changed this month. More specifically, Litecoin scored B+ for Tech/Adoption and D on Risk/Reward and is ranked 3rd at the moment. Cardano also scored better ratings and now is siting in 5th position.
Monero on the other hand lost its place from the Top 10 coins, scoring B in Tech/Adoption and D in Risk/Reward dropping to 11th place. Most of the other coins kept their ratings intact.
Frequent Changes In Weiss Crypto Ratings
Coin grading system has scores from A to F and have a plus or minus sign. The sign indicates the upper third or the lower third of grade, respectively.
“Bear in mind that the Weiss ratings for crypto reflect not only long-term, relatively stable factors such as technology and adoption, but also short-term, volatile factors such as investment risk and reward. Therefore, they can change with some frequency”, the agency advises.
Bitcoin and Ethereum maintained the positions of their ratings. Bitcoin rated with A in Tech/Adoption and D+ in Risk/Reward while Ethereum scored the same grade in Tech/Adoption but D in Risk/Reward.
How Trusted Are These Ratings?
These rating are nothing more than an algorithm. The algorithm takes in consideration network usage, trading volume, market cap and other similar factors. This practically might have a general use as an indicator. But it’s not the only indicator we should watch over.