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Here’s What Justifies Steem (STEEM)’s ‘Better Than Bitcoin’ Rating




Steem (STEEM) is a top performing cryptocurrency over the past twenty-four hours. The coin is up a little over 38% across the period and currently trades for a market capitalization of a little over $1.5 billion. The primary driver behind this upside run is an increase in speculative attention and a boost in sentiment on the back of a fresh (and, indeed, the first) professional ratings report that spanned a large number of cryptocurrencies and that hit press midsession US on Wednesday. While many in the space have disagreed with the interpretation put forward as part of the report, holders of STEEM likely aren’t complaining, given that this coin was one of the few that actually received a highly favorable report.

The agency in question is Weiss and the report can be found here.

For anybody not familiar with Weiss, it’s a ratings agency that began in 1971 and is the self-proclaimed nation’s leading independent rating agency of financial institutions. It assigns letter grades to about 55,000 institutions and investments, including nearly all of the US’s insurance companies, banks, credit unions, stocks, ETFs and mutual funds. It also (and this is important) never accepts compensation of any kind from the companies or entities it rates.

STEEM Daily Chart

STEEM Daily Chart

Anyway, it’s the first financial rating agency to put forward a cryptocurrency based report and the response has been mixed.

Bitcoin, for example, picked up a C+, while Ripple picked up a C and Ethereum received a B.

STEEM, on the other hand, received a B-.

Here’s the justification:

“(STEEM) enjoys a relatively good balance of moderate strength in nearly all the key factors considered along with a social network feature.”

So what’s the deal? Why did STEEM outperform some of the incumbents in the space?

Well, for anyone new to this one, STEEM is the cryptocurrency that underpins the Steemit ecosystem. Steemit is a social network and content creation type platform that allows anyone who has an account to create and publish content for the consumption of other users.

It’s free to use for creators and users are able to use the blockchain based technology that underpins the platform to reward other users monetarily if they apprecitate the content that they are creating and sharing with the community. Think of it as a sort of hybrid between Medium, Reddit and Facebook.

Anyway, back to the ratings.

As noted, Weiss sees STEEM as superior to many of the coins in the space based on the balance of its features in line with the fact that it’s used to power a social network. While this seems like a bit of a loose statement, at core we agree with the agency.

Sure, STEEM doesn’t have the billions of dollars of infrastructure in place that bitcoin does. And sure, Steemit doesn’t have the enterprise partnerships with commercial behemoths that Ripple does. It’s also nowhere near Ethereum in terms of utility.

In its own niche, however, it’s an incumbent. In a very short period of time the company, the platform and the cryptocurrency that underpins them both have been able to dominate the social media side of the sector and establish a large, solid and very loyal base of users.

There’s also a healthy amount of speculative attention behind the coin.

But here’s what really matters – this is a coin that’s designed (indeed, one of its core functions is) to exchange hands. When it comes to long-term value potential, utility is key and this is one of the biggest strengths that STEEM has going for it right now.

So what comes next?

Now it’s all about STEEM living up to its rating. We can only see Steemit continuing to expand its user base and – as it does – expand both the base of STEEM holders and the transaction utility of the coin.

We will be updating our subscribers as soon as we know more. For the latest on STEEM, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency.

Image courtesy of Steemit



Blockchain technology outshines Bitcoin and Gold during global pandemic



As the popularity of cryptocurrencies such as Bitcoin begins to level up with investments made in metals such as Gold, together they have both made significant advantages for investors who have taken a leap to invest in them.

However, thanks to the pandemic and the dynamic shift in investing and the economy, many investors have seen fluctuating losses and gains thanks to the uncertainty of the current business world. 

Many investors that backed companies who have exposure to blockchain technology have seen an approximate amount of 54% return on investments over the past year. This is even after considering how hard the global tech market and companies have been hit since the beginning of the pandemic.

What is blockchain technology?

Blockchain technology was first introduced as a supportive technology for Bitcoin. A blockchain is a simple, unchangeable and un-hackable digital ledger that holds transactions in little blocks attached to a chain. The transaction is duplicated and distributed across the entire network of systems on the blockchain, making it available for everyone on the network to see. 

Each block in the chain contains various transactions which are recorded on the participant ledger every time a transaction takes place. The database is decentralised and is managed by multiple participants known as Distributed Ledger Technology (DLT).

Although blockchain technology was birthed from Bitcoin and was widely adopted for the use of cryptocurrencies, the way it works and its security has made…

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Bitcoin Surges After Tesla Bought $1.5 Billion Worth of BTC




The sudden rise of Bitcoin has been connected to the decision taken by the Tesla electric car company to buy $1.5 billion worth of Bitcoin.

The company explained in a filing with the Securities and Exchange Commission (SEC) that it bought Bitcoin to diversify its cash returns and more flexibility.

Musk’s Tweets also impacted Dogecoin’s price

Tesla also added that it will start accepting Bitcoin payments for all its products, although this will be based on a limited basis and applicable laws. If the company concludes and starts accepting cryptocurrency, it will make it the first major car manufacturer to accept Bitcoin payments. The company’s founder and Chief Executive Officer Elon Musk has developed an interest in Bitcoin and cryptocurrencies.

He has been tweeting severally about the viability of the Dogecoin (DOGE), which doesn’t have an important market value attached to it.

Few hours after endorsing Dogecoin, the cryptocurrency rose by an impressive 50%. But regulatory authorities are still concerned about the risks in cryptocurrency investments, with several regulatory bodies warning traders and investors they could lose all their money from crypto investments.

But for Tesla, the company decides to diversify its funds and increased its cash returns. However, Tesla also warned investors about the volatility of Bitcoin’s price in its SEC filing. According to the SEC…

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XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange



Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited ( ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub ( ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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