Here’s Why it Doesn’t Matter

Tezos is one of the few cryptocurrencies that has managed to shine during these times of economic uncertainty. Indeed, multiple days of back-to-back gains have seen XTZ catalyzing calls for an impending altseason.

Tezos daily chart showing 50-day and 200-day MA. (Source: tradingview.com)

With that, late last week, Weiss Crypto Ratings announced their list of top cryptocurrency projects. And in yet another win for Tezos, it ranks as Weiss’ top pick for “technology,” managing to beat Bitcoin, which languishes in the eleventh seat.

However, despite the methodology used in compiling the list, for the foreseeable future, Bitcoin remains the number one choice for most.

Huge Support For Tezos Shows Community Backing

Massive gains for XTZ see Tezos as one of this year’s top performers. Certainly, fans of Tezos continually sing the praises of the tenth largest cryptocurrency by market cap. Citing its staking function as a major draw over and above that of other projects.

This level of community support is apparent in the percentage of Tezos staked. According to stakingrewards.com, almost 79% of XTZ is staked at present. Making it the most staked token in the crypto industry, and that’s regardless of its rather modest reward percentage in comparison to the competition.

Tezos rewards

Source: stakingrewards.com

In line with this sentiment, the folks at Weiss Crypto Ratings agree. They rated Tezos as one of four “Excellent” projects for “technology.” They also scored it a “B-” for tech/adoption, and “D+” in terms of risk/reward.

For comparison, Bitcoin scores a “Fair” for technology, an “A” for tech/adoption, and “D” for risk/reward.

Source: weisscrypto.com

How Much Credibility Should we Give Crypto Ratings?

There’s no doubt that Tezos holders feel gratified by the latest Weiss Crypto Ratings. But how much credence does Weiss, or for that matter any crypto rating service, have?

Indeed, rating services will draw disagreement with the wider public, especially so…

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