US Brokerage firm EF Hutton has announced that it will publish cryptocurrency research and assessments for its customers on Wednesday, September 5
EF Hutton, whose subsidiary Megga Inc. has previously launched its cryptographic token MeggaCoin last year, said in a press Release wants to help "confused" investors who want to gain a better understanding of space.
"Many big investors are confused by the rapid developments in this new asset class," said CEO Christopher Daniels, adding that the move represented "the first of many initiatives" involving cryptocurrency that the company would undertake .
EF Hutton researchers will undertake a review of some of the largest cryptocurrencies for market capitalization, in particular Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), EOS (EOS), Litecoin (LTC), Bitcoin Cash (BCH) and Cardano (ADA), assigning an evaluation from one to five stars.
"The rating scale is from a five-star star with five stars representing a positive perspective and a star representing a negative perspective," explains the statement.
Business coverage will also use the same scale, EF Hutton announcing its first topics such as HIVE Blockchain Technologies and Canadian mining startup Hut 8.
Hut 8 is currently the world's largest publicly traded mining operator, executives claimed in July after opening its second mining mine in Medicine Hat.
While EF Hutton did not explain the reasons behind his selections, the assessments echo the efforts made by agencies like Weiss at the start of this year, whose results have rapidly gained notoriety in the cryptocurrency circles.
Beyond finance, the Chinese government has also tried to express its verdicts on both the criptoassets and blockchain projects in recent months.