Cardano is the Foremost Cryptocurrency According to Weiss Ratings. Thanks to the Cardano Shelley Hard fork, Cardano now has the best blockchain technology in the space.
The Shelley update might be the last major one in the transition to complete decentralization but it is just the foundation for more innovation. The Cardano development team isn’t going to stop or slow down now that Shelley has been completed. The rating by Weiss was based on several factors rather than just technology. These variables include adaptation technologies, investment risk, and market situation. Following the Ethereum 2.0 update, Ethereum is now the foremost cryptocurrency overall. Part of the message was as follows;
“Shelley is already reflected in our technology model because we had full confidence that he would come out with this (fork). We are also thinking about the same model that Cardano is capable of doing intelligent contracts and dApps, because we believe that these things will come out eventually, so when Cardano pushes a code update, it doesn’t reflect our ratings, unless there is something new on the roadmap that wasn’t there before… As the basics for the blockchain, i.e. Cardano, improve over time, it will be reflected in our reviews.”
Weiss Rating has been following Cardano’s progress over the years. This is why they can conclude that the Shelley update has made the technology better than others in the industry;
“However, Weiss Ratings does not only evaluate cryptocurrencies with a large market capitalization but also smaller projects such as Cosmos (ATOM), Tezos (XTZ) or Fantom (FTM) are to be found in the top positions in the ranking of technical factors. Despite the current rally, the agency says that the current technical chart patterns indicate that a further upward movement is imminent.”
Cardano ADA Regains Bullish Momentum, Rises to the $0.1433 Level
Meanwhile, the Cardano ADA token has started gaining momentum after a few days of correcting lower against the USD. At the time of writing, the price of the token was $0.143252. It was up by 0.26% against the USD and up by 1.03% against Bitcoin BTC. The trading volume over a 24 hour period is $476,244,211 and the market capitalization is $3,714,095,258. The support at the $0.1400 level is holding steady.
Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.
- Weiss Rating Ranks Cardano Ahead of Ethereum and Bitcoin
- Cardano ADA Regains Bullish Momentum, Rises to the $0.1433 Level
Cardano’s development hasn’t gone unnoticed in recent times. The Shelley mainnet launch and all the accompanying updates have led to a lot of buzz in the cryptocurrency industry. The famous cryptocurrency rating platform, Weiss Ratings recently announced that Cardano is now the ranking cryptocurrency.
Apart from ranking Cardano as the foremost cryptocurrency in terms of technological advancements, Weiss Ratings stated that Ethereum will be ahead of Bitcoin following the completion of Ethereum 2.0.