Weiss Ratings: China’s Crypto Rankings Favour Centralized Crypto
NEWS
October 29  |  2 min read

Weiss Crypto Ratings Claims China’s State-Backed Rankings Favour EOS Because They Like Centralization

The COIN360 Editorial Team

Weiss Crypto Ratings, a financial rating agency, questioned the low position of Bitcoin and the high position of EOS in the recently updated crypto ranking by China’s Center for Information and Industry Development (CCID). According to Weiss Crypto Ratings, Bitcoin was ranked 11th while EOS was put in the first place mostly because the Chinese “like centralization.”

The agency also blamed CCID for being “state-backed,” and China’s general stance against Bitcoin is common knowledge.

Weiss Crypto Ratings disputes China’s latest cryptocurrency rankings


As Weiss Crypto Ratings shared on Twitter, China would never use BTC, as its openness, decentralization, and censorship-resistance contradict major Chinese State values.

According to the latest installment of the CCID crypto ranking, EOS kept its first position, while Tron replaced Ethereum and became #2. As for Weiss Crypto Ratings, they evaluate Bitcoin and Ethereum as top cryptocurrencies, which both have B- rating. They are followed by EOS and IOTA, which got a C+.

Weiss Crypto Ratings Top Cryptocurrencies


Interestingly, though Weiss Crypto Ratings criticized EOS for centralization, they still put it in 3rd place in their own ranking.

You can check COIN360 articles on alternative crypto ratings to learn more about the rating systems, methodology, and controversy of Weiss Crypto Ratings and CCID crypto ranking.