China have just released its updated cryptocurrency rankings, with two more coins added –bringing the total to 33. It is a standing joke as to how badly Bitcoin – the world’s no.1 crypto usually does in these rankings, so it is a surprise to see it has significantly improved, making the top 10 list for the first time.
Last Friday (August 17) China’s CCID (Center for Information Industry Development), a subsidiary of the country’s Ministry of Industry and Information Technology, officially released the latest installment of their Crypto Project Ranking. The Chinese have taken to referring to cryptocurrencies as “projects”, so this month’s selection featured a total of 33 projects, two up on last month.
Since May of this year, China has released a new ranking every month – this latest being the fourth. The new rankings consists of 33 crypto projects, two more than the previous list. When the CCID began displaying these rankings in May of this year, it did so with 28 projects (coins). The following month 2 more projects were added: EOS and Nebulas, and last month the list had just one new arrival, Gxchain. This month NULS and Tezos are the two new additions, bringing the total now to 33.
Below is the August CCID Crypto Ranking in full.
For the second time in a row, EOS tops the rankings list. It is followed by Ethereum, the crypto that was ranked no.1 in May’s first rankings. For the first time in the brief history of these rankings, the world’s no.1 cryptocurrency – Bitcoin – finally earned itself a spot In the top-ten, albeit in tenth place.
Comparing Top Tens: China vs US
It must be remembered that these rankings are arrived at by totally different methods. The US rankings are based on the value of its coins due to public demand, and how they affect its total market cap value. By comparison, China’s rankings are the result of points earned from three separate categories; Innovation, Technology and Applicability. The points are awarded by a panel of judges that comprise professors and researchers from some of China’s most prestigious educational institutions, including Tsinghua and Beijing University.
China has EOS at no.1, while the US has Bitcoin. Both the US and Chinese rankings have Ethereum in second spot, but while the US has Ripple ranked third, the Chinese rankings have Komodo (US rank 56) in third spot, and have Ripple down at 15.
At number four, China has another little known crypto in Nebulas (US rank 75), while the US has Bitcoin Cash in fourth spot (China ranks Bitcoin Cash back in 29th spot). Making up the Top Five, the US has EOS. China has NEO in fifth place (15th in US).
At no.6, the US has Stellar, as does China, the first matching pair since joint-second placed Ethereum. At seven, the US has Litecoin, while China has Lisk, a crypto which hails from the Swiss town of Zug, labelled “Crypto Valley” for its connection with blockchain tech. In eighth place, China goes with GXChain (US rank 74), while the US has Tether, which doesn’t feature in China’s 33.
At number nine in the rankings, China have Steem, a well-known crypto that’s currently down at 35th in the US rankings. Ninth place in the US rankings is taken up by Cardano (14th in China’s rankings).
And finally, in tenth spot, China have the ever popular Bitcoin, while the US have the ever-controversial Monero returning to the top-ten in tenth. China ranks Monero 23rd.
Will Bitcoin be able to climb the Chinese rankings even further? Will the likes of Komodo, Nebulas and Lisk attract investors and climb the US crypto rankings due to the publicity articles like this generate for them?
Tune in next month when the September Chinese Crypto Rankings are released to find out!