Recently, NEO Coin became the center of a rumor. According to the rumor that is circulating on Reddit, various blogs, and other social media, NEO is the first cryptocurrency project that has reached the A- rating from Weiss Ratings. However, is this rumor true? Is NEO the first crypto to achieve such a high rating from Weiss Ratings? Today, we’ll talk about where the rumor emerged, whether or not there is any validity to the story, and whether or not NEO deserves this type of rating.
Where The A- Rating For NEO Rumor Emerged
As mentioned above, NEO Coin recently found itself in the center of a rumor. The rumor is that the cryptocurrency is the first project of its kind to receive an A- rating from Weiss Ratings. So, where did the rumor emerge. Through my research, I’ve found that the first mention available came through a post on Reddit, when a user circulated the following image, stating that NEO was the first to receive the A- rating:
As you can see in the image above, other cryptocurrencies listed on the chart have ratings that range from E to C+. However, according to the chart above, NEO has earned an A- rating. So, is this real or is it just a rumor?
Assessing The Validity Of The Rumor
Before believing claims like this, it’s always a good idea to assess the validity of the rumor. After all, the stock market, one of the most common forms of manipulation is rumors. It wouldn’t be surprising to see this fact bleed into the cryptocurrency space over time. So, rumors in any financial space should be treated as invalid until proven to be true. Considering this, is there anything out there that validates the rumor surrounding NEO?
To dig this up, the first place I started was on the Weiss Ratings website. I spent a bit of time searching for the chart in the image above. After all, if Weiss Ratings took the time to make that chart, it should be easily accessible as the company would want to promote its ratings and recommendations. However, after a thorough search of the company’s website, I was unable to find any chart that resembled the chart in the picture. I then went on the Weiss Cryptocurrency Ratings website and performed the same search. Unfortunately, I was unable to find this chart or any chart like it on either website.
From there, I started to dig through both websites mentioned above for clues as to what Weiss Ratings was rating NEO as. Unfortunately, I was unable to find any mention of the company rating NEO as an A-. Considering that the rumored ratings company doesn’t seem to mention the rating anywhere on their website, this rumor is likely invalid.
Does NEO Deserve An A- Rating?
This is a tough question to answer. However, in my opinion, while NEO is indeed a strong cryptocurrency, it doesn’t quite deserve the A- rating that is being rumored. This is not based on NEO as a singular asset, but is based on recent verifiable ratings that have been placed on other cryptos by Weiss Cryptocurrency Ratings.
Perhaps the most notable rating that was recently placed was a Bitcoin, when the ratings company gave a rating of C+ to the coin. While this rating was controversial considering that Bitcoin is the largest cryptocurrency by market share, it is understand given the ability to scale portrayed by the Bitcoin blockchain.
Looking at Ethereum, Weiss Cryptocurrency Ratings has it rated as a B. In my opinion, Ethereum is the cryptocurrency with the strongest potential given the various potential uses of the Ethereum blockchain. While Ethereum is likely one of the best potential opportunities, this cryptocurrency only has a B rating.
NEO is a strong cryptocurrency. However, there are very valid arguments that it is nowhere near as strong as Bitcoin or Ethereum. At the end of the day, quite a bit of work needs to be done for NEO to deserve the A- rating. Will it happen one day? Maybe! Is it today? No! Sure, NEO is gaining in market share, has backing by major players in the financial space, and provides impressive technology. However, if it had to be rated in comparison to the two coins mentioned above, it would likely actually earn a C.
At the end of the day, chances are that Weiss Cryptocurrency Ratings did not rate NEO with an A-. However, that doesn’t mean that NEO is a bad option. At the end of the day, it has earned its way into its position as one of the top 10 cryptocurrencies on the market today. This in combination with the tremendous support the coin is seeing, makes it a very viable option for any crypto portfolio. However, is it an A- type of opportunity? Not today!
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