Cardano (ADA) has been proven to be one of the most reputable crypto projects, backed by a very transparent team. Weiss Ratings released their ratings for cryptocurrencies for May, 2018. Weiss Ratings is the leading independent rating agency, and has been in the business since 1071.
The recent list made public by the infamous rating agency is composed of 93 cryptocurrencies. Weiss Ratings use the grading scale A = Excellent, B = Good, C = Fair, D = Weak, and E = Very week. A plus and minus is attached to indicate the upper and lower tier of a grade range while the grade F is assigned to cryptocurrencies that have had fraud or credible allegations in the past.
In the list made public by Weiss Ratings, no cryptocurrency received an A or a B+, however, 14 received a B or a B-. Cardano (ADA), EOS (EOS), and Decred (DCR) topped the latest ranking with a B. The rank of Cardano is just a confirmation of the credibility of the Foundation behind the project.
Market Performance of Cardano
Recovering from the recent low ends in the crypto market, Cardano (ADA) was the few cryptocurrencies leading the comeback. This week began on a high note for cryptocurrencies, the entire market was up by over 16% (approximately 50 billion USD), but the down trends are beginning to set in again.
Cardano’s progress in the market has been slowed down the entire market plunges into the red zone once again. Approximately 75% of the entire crypto market is in the red. ADA is facing decline of 2.8% over the last 24 hours and is now trading at $0.211 USD. Cardano is now ranked the 7th largest cryptocurrency with a market capitalization of $5.472 billion USD.
Cardano Foundation Moves Closer Towards Transforming Africa
Cardano is one of the few research based projects aimed at bettering the society. Cardano Foundation has also paid special attention to developing areas, touring around Africa, most notably Ethiopia and Rwanda with the #TransformAfrica motive.
Cardano’s IOHK and the Ethiopian government have agreed mutually and signed a Memorandum of Understanding to train and hire fresh software developers from the country as they plan to adopt Cardano in their agricultural industry. This MoU is the first of its kind in Africa, and the classes are expected to begin by September.
Cardano’s MoU with the Ethiopian government could be the key towards opening up the much untouched African market to the almost endless possibilities of blockchain and cryptocurrencies. Ethiopia and other African countries could be looking to adopt Cardano if it records success with the agricultural industry in Ethiopia.
Cardano Foundation Turns Back to Switzerland
Cardano Foundation would be hosting its first meetup in Zurich, Switzerland on June 13, 2018. Cardano Foundation was registered in Switzerland 18 months ago before its ICO, with its headquarters in Zug, a small city about half an hour drive from Zurich, and home to over 200 blockchain companies.