China released the rankings of major cryptocurrencies in the crypto space recently, again. China’s Center for Information and Industry Development (CCID) performed the rankings which involved about 35 crypto projects. This time around, TRON – the surprise inclusion – claimed the number 2nd spot in the rankings.
The motivation of CCID for TRON’s second spot is due to the fact that the blockchain has a high throughput, high expansion, and reliability.
CCID listed these top 35 cryptocurrencies by market capitalization based on “Basic tech,” “applicability,” and “creativity.”
It should be recalled that last year, Ethereum occupied the second position, but this time around, TRON dethroned Ethereum, which now ranks third in the CCID rankings.
EOS still remains at the top while Bitcoin (placed at the 15th place previously) moved up a bit to the 13th spot. Subsequently, Bitcoin Cash moved to the 27th spot after being at the 28th spot in the previous month.
TRON is the newest addition to this ranking, and it is already occupying the second spot as a result of so many factors. TRON was launched May last year; in less than a year, this blockchain has been able to come up with great innovations in the crypto space.
Additionally, CCID termed TRON network as a “blockchain technology that is compatible with Ethereum Smart Contract.” The Chinese authority on blockchain was also motivated to move TRON to the second spot as a result of its active transactions and the number of Decentralized applications on its network. With that, TRON came out with a total evaluation index of 145.6, thus, placing it second to EOS blockchain network.
Furthermore, CCID also made it known that the scrutiny of the present rankings was high, but overall, most cryptocurrencies such as Bitcoin, NANO, Verge, Qtum, and BCH improved on their rankings.
A Chinese domestic project GXChain with TRON, EOS, Etherum, and Bitshares sits at the top in the basic technology category. It is necessary to know that this category involves cryptos with good technical output, function, performance, and safety.
On the terms of applicability cryptocurrencies such as Ethereum, NEO, TRON, and Ontology are on topmost. The applicability category has to do with supporting practical applications, which includes wallet applications and development support.
Surprisingly (given that China hasn’t been a fan of BTC), in the creativity category, Bitcoin took the lead and other cryptocurrencies: Ethereum, EOS, Lisk, and TRON followed.
Litecoin which occupies the 5th position by market capitalization has a shallow grade when it comes to the category of basic technology, and it ranks 34th on CCID’s ranking. NEM (XEM) has the lowest overall rating on the ranking with just 14.8 points.
No doubt, the latest TRON rating on CCID has generated good vibes in the TRON community. At the time of writing Bitcoin is trading at $3846 with a market capitalization of $67.56 Billion. And, TRON currently stands at the 9th position with a market capitalization of $1.58 Billion.
Image courtesy of Pixabay.
Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.