Weiss Ratings, an independent rating agency of financial institutions, said it will issue letter grades on cryptocurrencies, including Bitcoin.
The rating is set to be released on January 24. The ratings would be based on a model that analyzes thousands of data points on each coin's technology, usage, and trading patterns, the agency said.
"Many cryptocurrencies are murky, overhyped and vulnerable to crashes. The market desperately needs the clarity that only robust, impartial ratings can provide," Weiss Ratings Founder Martin Weiss, said.
"We're proud to be the first to bring that benefit to investors — to help them cut through the hype and identify the few truly solid cryptocurrencies," Weiss added.
The agency plans to issue ratings for Bitcoin, Ethereum, Ripple, Bitcoin Cash, Cardano, NEM, Litecoin, Stellar, EOS, IOTA, Dash, NEO, TRON, Monero, Bitcoin Gold and many others.
For comments and feedback: editorial@rttnews.com