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Weiss-Ratings is an agency that has conducted financial market research for over three decades and provides important data for companies and individuals.
Founded in 1971, Weiss Ratings helps institutional investors to analyze the cryptocurrency market in a more technical way. The three times that the crypto rating has been released, the cryptocurrency market does not seem to react in any particular way, apart from ridiculing their votes given to some coins of jokes (like Doge) or centralized projects (like NEO). The impact that this rating can have on the market seems limited.
Although they have a well-established reputation in the traditional financial sector, Weiss's ratings have very little authority on the cryptocurrency markets and their knowledge of cryptographic currencies has been mentioned aloud on numerous occasions:
The accusations on the possible payment promotion of the coins they hold are numerous, here is a post on Reddit that spreads more light:
"Personally speaking here:
1) They have been tried for hiring insider trading / pump and dumps in the past. https://www.sec.gov/litigation/admin/2009/34-60125.pdf
2) Enter an unregulated market – promoting a selection of coins.
3) They released the ratings behind a large paywall earning money and a subscriber base.
4) Now they control their membership base by promoting the coins they hold. "
The Crypto communities are full of people who call WeissRatings as ignorant and paid promotions rather than analysts:
"No list that evaluates Dogecoin a C, the same degree as other legitimate coins, is real, nobody knows the true evaluations but only has to wait"
"Weiss's cryptocurrency report is nothing but a fraudulent advertising joke designed to take your money." Their "analysts" are dinosaurs of a past epoch who have a history of incompetence (and in some cases even misconduct legal) in the vanilla finance industry They have absolutely no experience in the cryptocurrency market and there is no compelling reason to believe that their valuation metrics are useful or relevant at least. "Source
Shilling XRP and XLM
The agency describes that the selected digital currencies such as XRP and Stellar will have a significant impact on the traditional financial system. Both Stellar Lumens and XRP provide significantly higher payment solutions than traditional bank transfers in terms of speed and cost. It is not without reason that numerous financial heavyweights are testing Ripple and Stellar technologies in cross-border international payments.
Read: How to buy XRP
According to Weiss Ratings, Bitcoin has not yet managed to establish itself as a global alternative payment network. If XRP succeeds in gaining market share in the remittance sector and eventually completely eliminates Swiftt, XRP could become the most used crypt currency in the world:
Bitcoin was created as a new type of digital payment network, but has not yet achieved this goal.
Meanwhile, Ripples XRP and Stellar are facing the challenge. They have the potential to break down financial markets, remittances, remittances and much more.
In particular, Ripple XRP aims to destroy SWIFT, the vast payment network of the global banking system. If you can reduce SWIFT's market share and even replace it in some areas, there is the possibility that XRP will become the world's # 1 encrypted currency.
Furthermore, there should be a strong adjustment within the top 10 crypto-currencies by market capitalization. Weiss predicts that Bitcoin forks like Bitcoin Cash, Litecoin and Bitcoin SV will disappear from the market. Cardano and Holochain, on the other hand, have great potential and are considered the most important candidates for the development of a new decentralized version of the Internet.
So, what's wrong with WeissRatings thinking that XRP will be the encryption number 1?
I've already written a lot about Ripple's currency so you can see countless reasons why this is problematic if you click here, here, here and here.
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The writers and authors of CapitanAltcoin may or may not have a personal interest in any of the projects and activities mentioned. None of the contents on CaptainAltcoin is an investment advice, nor does it replace the advice of a certified financial planner.
The opinions expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com
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