Bitcoin community up in arms over China's latest crypto rankings

24 Mar, 2019 | Updated: 24 Mar, 2019
by Richard Allen
Bitcoin community up in arms over China's latest crypto rankings

China’s latest cryptocurrency rankings have ranked Bitcoin as one of the worse performers, dropping two spots from last month to 15th position. The Bitcoin community was rather unimpressed with the result.

EOS, TRON, and Ethereum were ranked top of the list, so understandably their respective communities were overjoyed with the results. Bitcoin, however, didn’t fare as well. Last month, Bitcoin was ranked at 13th, an improvement of two spaces over January's rankings. However, Bitcoin appeared unable to hold on to that as the dominant cryptocurrency slipped back.

Read more: CCID ranks EOS, Tron and Ethereum as top 3 cryptos in latest report

Mike Dudas from The Block joked that the Chinese government and FlipsideCrypto must be using the same algorithm, referencing a debacle in which the latter slammed Bitcoin while praising smart contract platforms.

Prominent crypto writer Joseph Young surmised in a recent CCN article that China’s rankings alone “don’t provide enough context for investors to analyze the performance or the progress of the development of Bitcoin.” He adds that the rankings “should only be taken as a reference, not as a definitive ranking of blockchains.”

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Read more about: Bitcoin (BTC)


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