For those thinking of investing or growing their investment in cryptocurrency, Weiss Crypto Ratings has issued its predictions for the Top 10 Crypto currencies most likely to succeed in the next year.
Traditional markets are often at loggerheads with the crypto market, issuing gloomy predictions and warnings of market crashes. Caution is needed, as with every investment – and there is now such rapid expansion of the crypto market that monitoring movement in the market and market predictions are important, as is consumer confidence in cryptos for daily transaction use and investment.
Cryptocurrency Ongoing Trends
The latest Weiss Ratings Report by founder Martin D. Weiss and chief cryptocurrency analyst, Juan Villaverde, identifies five ongoing trends:
|1.||An important segment of the cryptocurrency industry is enjoying remarkable growth in the volume of user transactions, a key aspect of adoption.|
|2.||Improving adoption is largely powered by improving technology.|
|3.||The way cryptocurrencies are secured is changing quite rapidly. Delegated Proof-of-Stake (DPoS) coins are on the rise, while Proof-of-Work (PoW) coins are losing market share.|
|4.||Some cryptocurrencies are moving beyond blockchain entirely.|
|5.||Killer dApps (Decentralized Applications) will play the biggest role in determining the future winners. Examples include :
Martin Weiss says that, despite lower prices since early 2018, the Weiss ratings model “gives us hard evidence that a critical segment of the cryptocurrency industry has enjoyed remarkable growth in user transaction volume, network capacity and network security“.
“Equally important is our finding that these improvements are often powered by an evolution in the underlying technology. Therefore, for those willing to take the risk, the best time to invest could be very near,” he adds.
Weiss Top 10 Cryptocurrencies “most likely to succeed”
Weiss Crypto Ratings are based on two different grades – one for long-term investors (Tech/Adoption Grade) and another covering short-term factors (Risk/Reward Grade).
Focusing strictly on the former (Tech/Adoption), Weiss finds:
- XRP (Tech/Adoption Grade: A and managed by Ripple) is best positioned to compete with SWIFT – the global network for interbank money transfers.
- EOS (Tech/Adoption Grade: A) is currently the leading cryptocurrency challenging Ethereum to become the backbone of the new Internet.
- Bitcoin (Tech/Adoption Grade: A) – upgraded with the rollout of its Lightning Network, Bitcoin is the best-positioned crypto to become a popular store of value for savers and investors.
- Ethereum (Tech/Adoption Grade: A-) is the most widely used smart-contract platform, but currently faces difficulties with scaling.
- Cardano (Tech/Adoption Grade: B+) aims to provide the most advanced smart contract capabilities, monetary policy and governance.
Weiss adds that also making the Top 10 list for technology and adoption are Steem, NEO, Stellar, Zcash, and BitShares.
Weiss ranks its Top 10 Cryptocurrencies for the next year as:
|1||XRP||Tech/Adoption Grade: A|
|2||EOS||Tech/Adoption Grade: A|
|3||Bitcoin||Tech/Adoption Grade: A|
|4||Ethereum||Tech/Adoption Grade: A-|
|5||Cardano||Tech/Adoption Grade: B+|
|6||Steem||Tech/Adoption Grade: B+|
|7||NEO||Tech/Adoption Grade: B+|
|8||Zcash||Tech/Adoption Grade: B+|
|9||Litecoin||Tech/Adoption Grade: B+|
|10||Stellar||Tech/Adoption Grade: B+|
In early March 2019, the Top 10 for on-chain transactions on average merit “a significantly stronger Weiss Technology Score than the Top 10 of February 2018”.
Note that these ratings do not factor in risk and reward – Weiss has produced separate ratings factoring this in (see below).
Weiss Top Four Cryptos for 1yr Growth in Daily User Transactions
Weiss further ranks the Top 4 cryptos for one-year growth in daily user transactions as:
|1||EOS||7K in 2018 to 4.6m in 2019|
|2||WAX||zero in 2018 to 4.4m in 2019|
|3||TRON||3K in 2018 to 1.9m in 2019|
|4||BITSHARES||789k in 2018 to 1.5m in 2019|
EOS daily on-chain transaction volume grew from 7,000 in February 2018 to nearly 4.6m by March 2019 and Weiss says that further data suggests that EOS has rapidly become “an important player” in the crypto market – its rapid growth to 4.6m daily user transactions is fourteen times the growth rate of Bitcoin and eight times the comparable growth rate of Ethereum, signalling significant consumer confidence in EOS.
However, Weiss goes on the point out that, out of its Top 4 Cryptos for the most on-chain daily transactions, three of them have grown from zero or modest usage within the course of one year to March 2019 – suggesting that, despite the pessimism of some market forecasters, consumer confidence in cryptocurrencies is actually increasing, with a total of 12.4m daily user transactions spread across the Weiss Top 4 Cryptos, compared to 433,000 in 2018.
Weiss Crypto Profit/Loss Warnings
Weiss warns consumers that risk of loss remains higher in crypto markets “than any other asset class”.
As a result of this, Overall Crypto Ratings include risk and reward factors to try and give a more accurate picture of crypto performance. The grades are lower than the Weiss Tech/Adoption Grades and only four of the Top 10 rate higher than B- when risk and reward are factored in: EOS, Ripple, Bitcoin and Binance. Significantly, no cryptos receive an A rating when reward and risk is factored into performance – and the Weiss Binance rating is mainly due to a recent price surge in 2019, which might not be sustainable long-term, Weiss warns.
The Weiss Top 10 Ratings when risk and rewards are factored in are:
About Weiss Rating Evaluations and Grades
Weiss rating evaluations without risk and reward factored in are classed as:
|+ sign||denotes upper third of grade|
|– sign||lower third of grade|
Read more about the Weiss Crypto Ratings scale.
Weiss Crypto Ratings Updates
Weiss Crypto Ratings issues Adoption/Technology Grades – along with the overall ratings – on more than 120 cryptocurrencies.
Weiss Crypto Ratings are updated weekly online in real time to consumers, investors, and businesses looking to make informed decisions and avoid the cryptocurrency hype.
Latest Weiss figures are based on evaluations of more than 120 cryptocurrencies on 12 March 2019, including Tech/Adoption Grade and Risk/Reward Grade.
Weiss Crypto Investment Update
Weiss recommends potential investors in crypto to read and keep up-to-date with Juan Villaverde’s writings on Bitcoin, starting with New Facebook Coin: 3 Mistakes Experts are Making:
Bitcoin was created with a fundamental promise — to create an open, public, shared database; to remove the need to trust any third party with sensitive data; and to transfer money securely, privately and permanently. That promise has been fulfilled in its entirety.
“In this article, he explains what cryptos are – and why the case for their success is being proven again and again in the markets,” says Weiss.
“That doesn’t mean that you should rush out and buy Bitcoin tomorrow morning. As always, timing is everything, so I recommend that you wait for Juan’s next ‘buy signal’ before investing your hard-earned money.”
You may not be ready to invest heavily in cryptocurrencies – but keeping an eye on ratings and daily user transaction growth can help pinpoint where crypto strengths and consumer confidence lie, to make sure you reap the benefits of cryptocurrencies and avoid the pitfalls.
Disclaimer: This article is for information only and does not constitute investment advice or recommendations – always seek the advice of a reputable financial adviser before investing, as the value of investments can go down as well as up.