On 16th August, China’s governing body, the Ministry of Industry and Information Technology unveiled the new official cryptocurrency rating index, marking its fourth edition. This month’s list was topped by EOS followed by Ethereum.
This was an exact reflection of last month’s rankings [3rd edition] where EOS and Ethereum held the same spot. Bitcoin, the most commonly used cryptocurrency, enjoyed a 7 place rise, jumping from the 17th spot to the 10th spot.
The Global Public Chain Technology Assessment was organized and implemented by the CCID [Qingdao] Blockchain Research Institute. It was jointly carried out by a number of units including the CCID Think Tank under the China Electronic Information Industry Development Research Institute and the China Software Testing Center.
The purpose is to scientifically assess the development level of Global Public Chain Technology and accurately grasp the trend of the cryptocurrency market.
The ratings are adjudged based on three factors:
- Technology- This is based on the level of developments in the technology used and its list of upgrades and feasibilities.
- Applicability- This is based on the number of areas that can use the cryptocurrency to directly produce tangible results.
- Innovation- This parameter is a set standard based on which the range of use of the cryptocurrency is calculated.
On the current rankings, EOS held a total of 158.6 points, a relatively big spike from the last edition’s 145.6 points. The cryptocurrency had a technology score of 104.3, applicability score of 17.6 and innovation score of 36.7. The report showed that the disparity between EOS’s technology score and the second-placed Ethereum is an eye-catching 22.3 points.
Ethereum had a total score of 139 with a technology score of 82, applicability score of 27.4 and innovation score of 29.6.
Bitcoin fans had something to cheer about this time around with a marked difference in position from the earlier reports. The cryptocurrency showed a technology score of 46, applicability score of 15.4 and innovation score of 40.3. What Bitcoin enthusiasts were most miffed about is the fact that Bitcoin had the lowest technology score among the top 20 cryptocurrencies.
Stellar did not see any change in its position, staying stable in the sixth position. The cryptocurrency has a total score of 106.9 points with an application score higher than that of Bitcoin and Ripple.
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Binance coin pumps by over 6% in an hour; breaks its all-time high
On June 20, Binance coin [BNB], a coin ranked seventh on CoinMarketCap, surged by a massive 6.38% over the past hour. The coin also broke its all-time high and was trading at $36.47, at press time.
At press time, BNB was being traded at $36.47 with a market cap of $5.097 billion. The 24-hour trading volume of the coin was reported to be $571.64 million, as it spiked by 2.35% over the day. Over the past seven days, the coin noted a rise of 2.03% in its price and continued to rise by 6.38% within the hour.
This hike follows Singapore-based cryptocurrency exchange, KuCoin, listing Binance coin [BNB] and Binance announcing the launch of Elrond project on Binance launchpad. Binance funded the sharding-based public blockchain network in a private funding round, as the company closed the round with $1.9 million. It will be the next project supported by Binance launchpad and the token sale will be carried out in a lottery fashion. The token sale is scheduled to begin from June 22, 00:00 AM [UTC].
The coin was highly traded on Binance exchange with BNB/USDT pair and BNB/BTC pair. BNB/USDT took the first place as it noted a 24-hour trading volume of $137 million, followed by BNB/BTC which reported a volume of $126 million. The third position was taken by LBank exchange, which registered a trading volume of $120 million with BNB/USDT pair.
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