China Crypto Index: Bitcoin Drops Further in October Ranking as EOS and Ethereum Maintain Top Positions

China through its Center for Information Industry Development (CCID) has continued its monthly ranking of cryptocurrencies publishing the latest rankings for October 2018.

There were few surprises in the October rankings as favored cryptocurrencies EOS [EOS] and Ethereum [ETH] held down their spots—first and second respectively—from the last rankings. Bitcoin, on the other hand, descended further from 17th in the September edition to 19th Spot in October.

The October rankings marked the sixth time China’s CCID would release its monthly cryptocurrency rankings. Just like in the previous month, they analyzed a total of 33 projects. As always the projects were evaluated based on three criteria namely basic technology, application, and creativity.

The CCID analyst team comprise experts from CCID Blockchain Research Institute and CCID ThinkTank, a subsidiary of the China Electronics and Information Industry Development Institute, and the China Software Testing Center.

Top Tokens remain Top

From observation, all the top 5 ranked tokens from last month maintained their positions on the ranking—EOS and Ethereum maintain their dominance for the 4th consecutive time. In their remark, the analysts at the CCID tried to explain the reason for the dominance of the two blockchains which are used to deploy decentralized apps (DApps) and smart contracts. They explained:

“At present, EOS and Ethereum are undoubtedly the preferred platforms for Dapp development worldwide, and EOS is showing a stronger momentum. The data shows that EOS Dapp is highly active and user increments are large.”

There only 2 changes made to the top 10 ranked tokens; Lisk and Qtum were replaced in the top 10 places by Nuls [NULS] and Ripple [XRP].

Ripple [XRP] makes Top 10

Following the attention it garnered since the launch of its x-Rapid payment product, Ripple [XRP] made it to the top 10 spots on the CCID crypto ranking. The x-Rapid launch was important since the product actually uses Ripple’s native XRP token to facilitate cross-border payments, unlike x-Current which has been favored by some financial institutions and payment processors.

XRP was ranked 7th on the list with a total index score of 103.4. It scored big on basic technology, 72.0 while getting 13.1 and 18.3 respectively for application and creativity.

Bitcoin Drops Further in Latest Ranking

Bitcoin made its highest ever position on the rankings in August when it entered the top 10 spots for the first ever time. After then, Bitcoin has now dropped both in position and total index points achieved. Last month BTC ranked 17th position with a total of 93.2 index points and in October could only manage 92.5 points to land at the 19th position behind Cardano [ADA] and Qtum [QTUM].

Bitcoin, however, ranked well above its fork bitcoin cash [BCH] ranked 28 with 77.1 points. It also remains the highest ranked in the area of creativity with 34.6 points followed by ethereum (29.6), and EOS (29.0).

Below is the latest ranking.

Solomon Sunny is the market reporter for Smartereum, one of the global leaders in Ethereum, blockchain and currency news. He produces technical price updates on digital currencies and writes recent developments about blockchain.


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