NEO First Project to Break into Weiss Ratings A-Tier
Earlier this week, a post started making the rounds regarding the updated Weiss Cryptocurrency Ratings.
The Weiss Ratings agency released a new batch of cryptocurrency ratings that gave NEO an A- investment rating.
The updated Weiss Ratings screenshot circulating Reddit and other communities.
The Chinese-based blockchain platform and cryptocurrency is the first project to break into the A-Tier, as dictated by Weiss Rating standards.
Although we haven’t been able to find a formal release of the Weiss Rating chart, this news/rumor has been fairly controversial. It’s important to only treat the formal information released on their cryptocurrency ratings subdomain. Also, fair warning, don’t to try to find the PDF on external sources because many scam sites are attempting to lure people into their malware-infested site with promises of the PDF.
Here are our takeaways:
Well-deserved for NEO. The team has been working hard to provide a blockchain platform that is front-facing enough to draw investment recommendations even from an old-guard rating agency. Being the first cryptocurrency to receive an A- rating is a pretty big deal, however, the accomplishment is still limited to the parameters of the influence of the Weiss Ratings Agency.
Many people still doubt the legitimacy of the Weiss Ratings Agency’s attempt to evaluate cryptocurrency projects. In a note completely unrelated to NEO’s award, the cryptocurrency community has been viewing the Weiss Ratings Agency’s overall evaluations as unfounded and amateurish. While it seems the only saving grace for the Palm Beach Gardens rating agency is its reputation, their attempt to create a standardized rating system in the cryptocurrency world is commendable.
As the Weiss Ratings Agency cryptocurrency research team continues to evolve, it’s expected they’ll be able to put together better reports. It is one of the few legitimate cryptocurrency rating systems, but it seems to be far from winning over the cryptocurrency community at-large to view it as the standard.
As anything in this industry, it seems to be a work in progress, and recognizing valuable and well put-together cryptocurrencies such as NEO as the higher tier of projects is a good first step.