China’s Top Crypto Rankings for August: Bitcoin Finally Enters the Top 10

The Chinese Center for Information Industry Development (CCID) has issued its monthly top cryptocurrency rankings for August. While there are three clear criteria for the rankings (technology, applicability and creativity), it is important to remember that it’s also probably at least somewhat politicized based on China’s interests.

There are no changes among the top two cryptocurrencies: EOS (EOS)trade is still first with a significantly improved score (158.7 compared to 145.6 in the previous rankings) and Ethereum (ETH)trade is second with a slightly better score than before (139 compared to 137.3). Komodo (KMD) made a momentous jump – from ninth to third – with a huge jump in its score (111.3 now, up from 101.1); this is likely the result of Komodo’s successful testing of reaching 20,000 transactions per second, whilst setting for itself the ambitious goal of getting to a million TPS.

The China-based blockchain project, GXChain (GXS), which made its debut last month with a stunning entrance straight into the fourth place, has now dropped to the more realistic eighth place (which some would argue is still pretty unrealistic). This month, two new cryptocurrencies have been inducted into the list, extending it to a ranking of 33 digital currencies: Nuls (NULS) that landed in the 21st place, and Tezos (XTZ) in the 28th place.

But with all due respect to all other cryptocurrencies, at long last Bitcoin (indisputably the largest cryptocurrency by market capitalization, mind you) has finally made it into the top ten. With an upgraded total score of 101.7 (compared to 93.4 in July), Bitcoin has settled in the tenth place, moving up from the 16th place. Other prominent cryptocurrencies that are still wobbling are Ripple (15th, down from 13th), Bitcoin Cash (29th, down from 25th), and Litecoin (31st, down from 28th).

Here is China’s full CCID cryptocurrency ranking for August:

What do you think about the article?

Sharing Is Caring: