Ethereum (ETH) Beats Bitcoin (BTC) in CoinMarketCap’s New Metric

CoinMarketCap has revealed a new metric on its site — and it’s not Bitcoin that’s top in this regard.

The new rating is called the Fundamental Crypto Asset Score (FCAS), and it examines several factors to give viewers a sense of the fundamental strength of the project, including developer behavior, market maturity and user activity.

Essentially, FCAS takes into account several trends to consider how well the development of a project is going. The ratings are provided by Flipside Crypto.

According to Flipside Crypto, overall user activity is driven by project utilization and network activity.

Network activity measures all of the user behavior on a particular project’s network, including the actions of wallets operated by stakers, miners, users and investors. Project utilization, on the other hand, calculates the use of user wallets for the project’s given use case.

Developer behavior is self-explanatory, and measures how active and efficient the development community is. The rating system takes into account code changes, code improvements and community involvement.

The FCAS scale values developer behavior highly:

The score is obtained by ingesting and evaluating repository events that occur on services like GitHub. Relationships between traditional developer metrics and community activity is nuanced, so we look beyond “commits” and “pushes” to evaluate projects at a deeper level. We track 30 variables, which are then bucketed into the three factors and rolled up into the overall Developer Behavior score.

​Developer Behavior has a high impact on a project’s overall FCAS.

Lastly, market maturity “represents the likelihood a crypto asset will provide consistent returns across various market scenarios by combining assessments of market risk.” This does not factor in very highly towards the score. This tracks the money supply — the more likely the supply is centralized, the lower the score.

What’s interesting to note is that Bitcoin (BTC) gets an “A” grade, scoring 885 on the ratings scale, while Ethereum (ETH) gets an “S” rank, with a score of 909.

Meanwhile, Ripple (XRP) gets an “A” grade with 751, Litecoin (LTC) an “A” grade with 756, and Tether (USDT) an “F” grade with 437.

The metric can be viewed by clicking on the ratings tab on an individual token’s page on CoinMarketCap.

3 Comments

  • rassalas
    Posted March 20, 2019 1:29 am 0Likes

    Let’s make a new rating system that will make our pet project #1 ranked! Then we can go around patting ourselves on the back until the next bug crashes our world… Speaking of which did Parity ever hack their money back?
    Face it guys Eth is dead, it’s been dead since 2017, While all the other coins have hit bottom, and some are rising with double digit percent gains, Eth is still down in the toilet.

    • Jerry Garcia
      Posted March 20, 2019 3:05 am 0Likes

      Curious about this conclusion @rassalas? JPM coin is using ethereum’s blockchain which would mean huge demand for ethereum. have you researched all these coins? I don’t believe you are correct because in the end, these giant banks who control all the companies in the world will decide which crypto is most useful. and the black market will most likely choose the most secure and encrypted (zcash).

  • Luc Chase
    Posted March 20, 2019 3:08 am 0Likes

    Positive move but it overlooks what may be more modern BFT systems with less work actually needed to make them scale on chain.

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