Weiss Ratings grades Litecoin as ‘excellent’ in terms of adoption & investment rewards

  • 01 July 2019, Monday, 11:00

Litecoin, the fourth largest cryptocurrency by market cap, has risen massively throughout the year. It has retained on the cryptocurrency chart, despite a constant tussle with the hard fork coin Bitcoin Cash [BCH]. Despite Litecoin’s valuation spiraling downwards lately, the silver crypto has managed to achieve a fairly good score with an overall rating of B. The silver crypto-asset shined through in terms of adoption, technology, investment risk, and reward ratio.

According to the financial & investment research firm, Weiss Ratings, Litecoin was “excellent.” This can be attributed to Litecoin’s accessibility across a significant user base. The digital silver recently announced a partnership with Travala.com, a blockchain-based hotel booking platform. Litecoin’s growing adoption rate was prompted by crisis-hit Venezuela launching a new remittance service which enabled Litecoin and Bitcoin transactions.

With respect to its technology, Litecoin was cited as “fair.” Litecoin has leveraged the smart contract protocol of Atomic Swaps to perform instant cross-chain transactions. The Litecoin network’s wallet encryption, security from malicious entities, and processing of a huge volume of transactions, are its main strengths. Subsequently, the crypto-asset registered a technology grade of B+.

Additionally, in terms of investment reward, the research firm deemed Litecoin to be “excellent,” while with respect to the investment risk factor, Litecoin was classed as “fair,” which resulted in the reward/risk grade to be B-.

Besides, the crypto-asset has also witnessed a rise of over 104% in its valuation over a period of 90 days. From trading just above $60 earlier this year to a price of $121. 70 at press time, the digital asset led major rallies along with its peer altcoins.

Source: ambcrypto.com