Beyond Bitcoin: Understanding Altcoins
Alex Benfield, Crypto Analyst at Weiss Crypto Ratings
The cryptocurrency market has absolutely exploded in the past year or so with many institutions finally caving and joining the party. Even Morgan Stanley has announced that they will begin to offer its clients access to Bitcoin.
Inevitably, after discovering Bitcoin most investors start to explore other less-mature cryptocurrencies with higher potential returns. However this is where many new crypto investors start to make mistakes, as there are so many different cryptocurrencies and many of them will not last. Suffice to say, it can be very hard to find good alternatives to Bitcoin, specifically cryptocurrencies that have good fundamentals, not just good short-term market action.
The Weiss MVIS Top Tech Adoption Rating Index (ticker: MVWTAR) is compiled of 9 differently weighted crypto assets, and tracks a portfolio consisting of some of Weiss Rating’s top rated crypto assets. This index helps cut out some of the noise of the market and tracks a well balanced portfolio of some of the best assets by tech development, adoption, and utility.
Weiss MVIS Top Tech Adoption Rating Index
Source: MV Index Solutions GmbH. Data as of 25 March 2021.
Alexander Benfield is a experienced crypto analyst since 2017. He has past experience as a crypto data scientist working with blockchain and market data and is currently writing daily crypto market analysis articles.
The article above is an opinion of the author and does not necessarily reflect the opinion of MV Index Solutions or its affiliates.