Ethereum Receives Accolades From Weiss Crypto Ratings

Ethereum’s performance in 2020 cannot be taken lightly as the second-largest digital asset has registered a growth of 125 percent over the first 44 days of the year. Its valuation increased from $128 on 1st January to a yearly-high of $287 on the 14th of February. Over the past three weeks, along with the collective industry, ETH witnessed a price slump but the token has been able to maintain its position above $200.

“Ethereum is pushing our Industry Forward”-Weiss Crypto Ratings

According to Weiss Crypto Ratings, a popular crypto rating entity, Ethereum is currently carrying the torch forward in the industry and suggested that the network is at a perfectly placed in the ecosystem from a perspective of trading or building decentralized applications.

Weiss’s reactions came at the back of Anthony Pompliano’s recent blog post about Ethereum where the popular Bitcoin proponent described Ethereum’s ideology as a currency to be fundamentally inaccurate. Anthony Pompliano went on to draw a comparison between Ethereum and fiat-money which attracted significant criticism from the community and Weiss Crypto Ratings was at the front of the pack.

The rating agency hinted a jab at Anthony Pompliano without taking his name directly and stated,

“We’ve seen people call #ETH “fiat money” while praising governments for their efforts to introduce their own “digital currencies” as it relates to crypto.”

It is important to note that Ethereum’s Decentralized Application-DeFi has been rising steadily over the last 6 months and has recently raised more than $1 billion worth of assets under its DeFi protocols.

Pompliano acknowledged the above sentiment and stated that DeFi is an important part of the digital asset ecosystem and it would likely represent and hold a significant place on the global financial system with time.

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