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Tron [TRX] makes its debut in Chinese government’s crypto ranking; Bitcoin [BTC] gets promoted

Namrata Shukla

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Tron [TRX] makes its debut in Chinese government's crypto ranking; Bitcoin [BTC] gets promoted
Source: Pixabay

The cryptocurrency market is going through a rough phase as most major cryptocurrencies are seeing a plunge in prices. As the currencies try to recover, a ranking from China might shed some light on the cryptocurrencies’ standing in their market.

The Center for Information and Industry Development [CCID] released the tenth update of its crypto project ranking on Tuesday. CCID, which comes under China’s Ministry of Industry and Information Technology, stated that this is the second update of 2019, which includes the evaluation of 35 crypto projects, with Tron being the only addition since the last evaluation, reported Bitcoin news.

According to the rating, EOS stands in the first position, pushing Ethereum to the third. Bitcoin [BTC] takes the 13th position on the list, which is an improvement as it was in the 15th position earlier. Bitcoin Cash [BCH] climbed one step from 28th to 27th since the previous evaluation.

According to the publication, the center described Tron as a “low-level public chain with high throughput, high expansion, and high reliability,” adding that it is “compatible with the Ethereum smart contract”. The center claimed that “chain transactions are more active,” and that Tron now has more than 200 Dapps. According to the ratings, the total evaluation of Tron is 145.6, which is the second highest.

The CCID also explained that the current evaluation uses three primary indicators – basic technology, applicability, and creativity. However, for the current evaluation, the weight of the creativity indicator has been increased. The report noted that projects that have shown the most improvements are Nano, Verge, and Qtum.

The top-five public chains for basic technology category are EOS, Tron, Bitshares, Gxchain, and Nano. This category evaluates the technical realization level of the public chain and examines its function, performance, safety, and decentralization.



However, the top-five projects in the applicability category are Ethereum, NEO, Nebulas, Tron, and Ontology. This category evaluates the level of support for practical applications, including node deployment, wallet applications, development support, and application implementations, the report stated.

Bitcoin bagged the first place in the creativity category that aims to grade relentless innovation in the public chain, including the number of developers, code updates, and code impact. Bitcoin was followed by Ethereum, EOS, Lisk, and Tron.





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Namrata is a full-time journalist and is interested in covering everything under the sun, with a special focus on the crypto market.

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Tether’s [USDT] market capitalization hits all-time high, Facebook in talks with Winklevoss twins, trading firms over new cryptocurrency and more

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Tether’s [USDT] market capitalization hits all-time high, Facebook in talks with Winklevoss twins, trading firms over new cryptocurrency and more

Daily Crypto News – May 25

1) Bitcoin Wallet receives part of 5,000 BTC: A recent Whale Alert highlighted a transaction on May 24, where a large sum of Bitcoin [BTC] exchanged hands between two anonymous wallets. According to the alert the transaction took place at 22:13:23 + 1 minutes and 5,000.00001092 BTC was transferred from an unknown wallet, with address 19SiCYaYKZh9A8HUjuh14eg5wtYzKxiFbB, to another unknown wallet with address 14GcjGjxwadzcpmq9EG3KUgTKATjurbnWt.

Read more at https://bit.ly/2VRQwb0

2) Bitwise Report 2.0: Bitcoin [BTC] futures continues growth: On a month-on-month basis, Bitcoin Futures saw a massive bump in April trading at an average of 10,000 contracts daily, peaking on April 4, with over 22,000 contracts traded. To put that number in perspective, in March 2019, the average contracts traded was less than 4,000. Despite the high standards set in April, the average daily contracts traded in May, with 25 days gone has exceeded 14,000 and still looks to grow, given the price performance of Bitcoin.

Read more at https://bit.ly/2W40sTR

3) Craig Wright on private keys: Craig S Wright has, for years, claimed he is the true creator of Bitcoin [BTC] without providing a shred of evidence to support the same. With the crypto-community levelling, Wright could prove his worth by sending BTC from Satoshi Nakamoto’s touted wallet containing around 980,000 BTCs, the BSV man in a twisted cause and effect situation, stated he will “sign” into his wallet only when he proves he is the creator.

Read more at https://bit.ly/2X6fdlw

4) Tether’s [USDT] market cap hits ATH: Tether and Bitfinex are being closely scrutinized now more than ever due to the NYAG’s lawsuit; however, the scrutiny doesn’t seem to have affected Tether as the market cap of USDT has increased by over $100 million in approximately 70 days.

Read more at https://bit.ly/2McaTjE

5) Tether volume shift: Another controversial topic in the cryptocurrency industry was the issue of fake transaction volumes on many of the popular cryptocurrency exchanges. The magnitude of the topic was so large that even Changpeng Zhao, the Chief Executive Officer [CEO] of Binance had raised red flags. This topic and Tether as a whole received another twist when Larry Cermack, the Director of Research at The Block, pointed out a few parameters when it came to the said volume.

Read more at https://bit.ly/2wmk4mJ

6) Bitfinex’s LEO tokens listed on Delta Exchange: Bitfinex’s Leo tokens faced quite a lot of criticism when they were announced, due to the missing $850 million funds from Bitfinex. The private investment round by Bitfinex also faced a lot of heat from the media. However, in a recent development, Leo tokens are being listed on various exchanges for trading.

Read more at https://bit.ly/2HUEnNB



7) Robinhood en-route a projected valuation of $7 billion: Robinhood, the California-based cryptocurrency exchange made headlines recently when a source close to the organization revealed that it was on the verge of closing their latest round of funding at a valuation of a whopping $7 billion – $8 billion. Sources even claimed that the current round of funding could act as a precursor to an even bigger round of funding, which would pit Robinhood with the bigwigs like Coinbase and Binance.

Read more at https://bit.ly/2W64KKj





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