Crypto Corner: Bitcoin “Not A Top Ten” Cryptoasset Says China

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Adam Vettese (eToro) | Bitcoin is not the top cryptoasset, according to a new Chinese report that ranked global cryptoassets based on their technical merits. According to a report from China’s Centre for Information and Industry Development (CCID) Bitcoin, the world’s oldest and largest crypto asset by market cap, ranked 12th.

The rankings have been published in the 18th edition of the CCID Global Public Chain Technology Evaluation Index. The index judges cryptos based on their blockchain’s basic tech, applicability and creativity. Basic tech evaluates the function, performance, and security of the blockchain; applicability evaluates if these blockchains support actual applications; creativity or innovation refers to developer scale, code update, and code influence.

Bitcoin was up just two places from the previous evaluation. According to a report in the International Business Times, which cited CoinTelegraph, the top five tokens remained the same from the previous evaluation — EOS, Tron, Ethereum, IOST and Link.

What to watch

Carmax: Over the past three months, Carmax has delivered an astonishing recovery. Its share price is up 11.7% year-to-date but has gained more than 100% in the past three months alone to dig itself out of a deep hole. The firm, which provides an online marketplace for buying and selling used and new cars, reports its latest set of quarterly earnings on Friday. Currently there is no one single dominant player in the US used car business, and the company has been working through a major makeover to position itself to fill that void. Currently, 13 analysts rate the stock as a buy, one as an overweight, and one as a hold.

Quadruple witching: This is not normally an event to watch, but it’s worth being aware of, given the huge volatility and price dislocations that have been witnessed in markets in recent months. The term refers to the expiration, simultaneously, of stock options and futures contracts. “Expirations tend to be volatile by their nature, and I would suspect this go around will likely be no exception,” one industry expert told MarketWatch.

About the Author

The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.