Crypto Indexes and Ratings Trackers you need to know
With the extraordinary growth that has been witnessed by the cryptocurrency industry over the past two years, this burgeoning market space has seen the emergence of a wide range of rating agencies in a short period of time. These entities are designed to help investors and enthusiasts stay away from some of the primary ills that have generated a direct result of the problems afflicting the altcoin domain, ie fraudulent ICO projects, scammy digital tokens, etc.
Let's take a look at some of the most popular cryptographic indexes and rating trackers used around the world today:
1. Weiss research: Weiss has been one of the biggest names in the rankings and rankings for a long time now.
However, in terms of cryptographic credentials, the company has been in this space for just over a year and in order to subscribe to Weiss's weekly updates, customers have to shell out about $ 500 a year.
That said, most of the time, Weiss's official ratings are often leaked onto the web before they are even published in the company newsletter, which indicates that the company has problems with its security protocols.
In terms of how the company's evaluation system works, Weiss currently analyzes more than 70 different altcoins based on four separate indices, including:
Using the aforementioned criteria, Weiss classifies the various altcoins on a scale from A + to E.
2. Fundstrat – BMI: Many people may be familiar with the Fundstrat name because of the company's founder, Tom Lee, who is known within the global financial scene as the "perennial bull crypt".
Fundstrat's Bitcoin Misery Index (BMI) is a popular assessment tool widely used among cryptographic investors as it provides detailed information on BTC's long-term economic forecasts using current and predictive price analysis indicators.
In terms of how the index works, once the BTC IMC falls below 27 no. Mark, the coin officially enters the "misery zone" – which is basically say that the activity is prey to a bear market.
3. Bloomberg Galaxy Crypto Index (BCGI): Another name that many investors might know is the BCGI index. This highly publicized cryptographic tool is the brainchild of Mike Novogratz of Galaxy Digital and the Bloomberg financial team.
After its introduction into the market, this index outlined the performance of a poor cryptocurrency listed in USD 10. However, within a 12-month period, BCGI now monitors over 150 currency pairs in real time.
4. Thomson Reuters – BST: Rather new to the game, Thomson Reuters' Bitcoin Sentiment Tracker entered the crypt melee at the start of March. The data feed is performed together with the analytical information released by MarketPsych Data LLC. According to the company, the index is able to collect news and updates related to a wide range of altcoins in real time from more than 1000 sources.
5. CCCA CCCA: The Chinese Center for the Development of the Information Industry has created its own global public chain evaluation index in order to classify various digital currencies on the basis of factors such as:
- If the project has its own mainnet?
- Are all the nodes within the ecosystem public and can be freely created?
- Can the block information be displayed publicly?
- Does the project have an open source code policy?
While on paper this rating index seems very accurate and controlled, the fact that the Chinese government has banned the trade in all cryptocurrencies within its borders makes the GPCA lose much of its credibility.