EOS remains at the top of the latest edition of the Chinese crypto ranking, TRON overtakes Ethereum

EOS remains at the top of the latest edition of the Chinese crypto ranking, TRON overtakes Ethereum

EOS remains at the top of the latest edition of the Chinese crypto ranking, TRON overtakes Ethereum

The Chinese Center for Information and Industry Development (CCID) has published the latest edition of its cryptocurrency rankings. In the fourteenth edition of this list packed EOS (EOS) the top position again while TRON (TRX) again Ethereum (ETH) has overtaken again.

That EOS is once again at the top is not a surprise, the altcoin also took the top position in the past editions. What is striking is that TRON has taken back second place from Ethereum.

On October 28, TRON is the strongest climber in a market that turns green. The price of the altcoin has risen by no less than 23% and is thus entering the top 10 largest cryptocurrencies, as a result of which stellar (XLM) has been eliminated from tenth place.

The fact that Tron is doing so well is probably due to the positive news from China. President Xi Jinping recently spoke about blockchain technology and shortly thereafter the market started a strong rally.

Also, Justin Sun, CEO of the TRON Foundation, announced last weekend that his company is going to collaborate with a “hundred billion USD megacorporation.”

Lisk (LSK) and Qtum (QTUM) have increased the most on this list, with seven and ten positions respectively. Lisk is a blockchain platform that uses Lisk tokens on which developers can build decentralized apps (dApps) in JavaScript. It is similar to the Ethereum network. Qtum is a blockchain hybrid that combines smart contracts from Ethereum with the stable blockchain from bitcoin (BTC).

Cosmos (ATOM) was still new on the previous edition of this list but has now dropped twelve positions. Ontology (ONT) dropped four places last time and this time five. GXChain (GXC) has dropped by more than 30 places and falls off the list.

The cryptocurrencies are assessed on this ranking based on three different criteria: technology, innovation, and usability. However, it is unclear how it fulfills these criteria.

It must be borne in mind that this list is not released by the Chinese government as previously thought. It was thought that the list was published by the Ministry of Industry and Information Technology (MIIT), to which the CCID is affiliated, but the CCID issues this on behalf of a third party named SaidiWang.

It is therefore not an official ranking of the Chinese government, but it is still a popular list and with all the news from China in recent days it is interesting to see what impact this latest edition will have.

About Shawn Morrison 266 Articles
One of the founders of BitzArena. Active with crypto currency since the rise of the bitcoin. Loves the innovative character of crypto and blockchain technology, and follows developments in the market closely. Likes to connect technology with business, and likes to make difficult concepts accessible to a wide audience.

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