Cryptoasset Ratings – How they evolved so far

In January we announced a partnership with the crypto rating agencies Baserank and Weiss Crypto Ratings to publish regularly ratings for cryptocurrencies and -tokens. Since then Wikirating has weekly updated the ratings of more than 200 cryptoassets. To avoid any misunderstanding, we want to emphasize again that crypto rating evaluations are not necessarily connected to price developments expressed in fiat currencies.

First of all it has to be mentioned that the area of crypto rating methodologies still is quite new, since the track record of crypto assets is limited (maybe with the exception of Bitcoin, which now is 12 years old) and the experiences with these new asset classes still are unknown territories. But fortunately this will mature over time, and Wikirating wants to contribute to this development.

After about half a year, we now want to give a brief overview of how the ratings of the most important cryptoassets have developed so far – based on the Crypto Rating Index (CRI), which considers the minimum of available rating values from crypto rating agencies. We have monthly averaged the values of all rated cryptoassets for each month, between January and June 2021.

The cryptoassets with the highest ‘credit rating’ were always Bitcoin and Ethereum (both rated with AA), of which Ethereum was on average slightly better evaluated than Bitcoin in terms of received points (see Crypto rating table). Then Stellar and Cardano follow, with still good ratings of A and A- respectively. What also can be clearly seen is that apart from these aforementioned four cryptocurrencies, also Dogecoin was on average very stable rated during the last half year (BBB, which still means ‘investmentgrade’). On the other side Polkadot, Binance Coin and Ripple (XRP) were quite volatile (in terms of crypto rating development). These eight examples already show nicely that ‘crypto ratings’ are not necessarily correlated with price developments – at least not within a short/mid-term outlook.

List of analyzed cryptoassets – in alphabetical order:

List of the 200+ cryptocurrencies and -tokens by rating:

What are your opinions? Let us know in the comment section what you think about this first analysis.

Leave a Reply

Your email address will not be published. Required fields are marked *