After numerous fake releases by trolls around the internet, Weiss released their official cryptocurrency ratings today, January 24, 10 PM Manila time.
The list, which was anticipated by traders and just came out a while ago as of this writing, gave Bitcoin a C+ (meaning fair), and Ethereum a B- (meaning good). In total Weiss currently covers 74 cryptocurrencies. Ratings are usually used as a tool in the context of a broader risk management strategy.
Commenting on Bitcoin, Weiss said that it “gets excellent scores for security and widespread adoption. But it is encountering major network bottlenecks, causing delays and high transactions costs. Despite intense ongoing efforts that are achieving some initial success, Bitcoin has no immediate mechanism for promptly upgrading its software code.”
On Ethereum, it says that “the second most widely adopted cryptocurrency, benefits from more readily upgradable technology and better speed, despite some bottlenecks.” Ethereum is one of the only coins in the list that got a grade above C+. The others are Cardano (B-), EOS (B), NEO (B-), and Steem (B-).
Weiss Ratings touts itself as a leading independent rating agency of financial institutions in the United States, and this list as the first-ever grades on cryptocurrencies by a financial rating agency. Whether this news would affect markets remains to be seen. As of this writing, the results and the ratings given to certain cryptocurrencies is still under debate.