Bitcoin Improves In China's 2019 Crypto Ranking Opener

bitcoinimproves jan29 lt

Bitcoin has improved its position by three steps in China's latest Global Public Chain Technology Evaluation Index.

Bitcoin (BTC), which had dropped to 18th place from No.13 in December, is ranked 15th on Chinese government's latest official cryptocurrency rankings.

China's Center for Information Industry Development (CCID), under the Ministry of Industry and Information Technology, released the ninth edition of its state-endorsed cryptocurrency and Blockchain ratings in January, which is the first update of this year.

The most popular cryptocurrency made it to the top 10 only once. That was in August.

Chinese altcoin EOS continues to be on top of the Index.

Ethereum, which was rated No. 1 in the inaugural edition, continues to be in second place.

It is followed by New cryptocurrency Ontology, which is better placed than its fourth rank on its debut last month. Ontology replaced GXChain, which fell to No. 4. According to the CCID, Ontology has outstanding performance in basic technology and application.

The index was launched in May, with 28 projects listed in it. Six more cryptocurrencies were added to the list since then. Ontology was the latest addition

The evaluation results show that EOS and Ethereum still firmly occupy the top two positions of the list, said CCID, which describes itself as "a first-class scientific research institution" directly under the Chinese government.

The crypto projects were ranked based on their basic technology, applicability, and innovation, as well as overall.

The Chinese government is issuing cryptocurrency rating index despite the fact that cryptocurrency trading and Initial Coin Offerings (ICO) are banned in the country.

However, the crackdown on digital currency is not succeeding, and ICO activity has intensified, reports say.

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT