- Ethereum has outperformed Bitcoin in the debut year of the Evai AI driven crypto ratings
- Artificial Intelligence protocol identified SAND as a top performer as early as July 2021
- LUNA rating jumped from B2 to A3 signalling the beginning of an upward price movement
- Free-to-use ratings platform has democratised the financial ratings model for crypto users
The British FinTech company behind a new AI driven crypto ratings platform called evai.io have released their first ratings report assessing the $2.3 Trillion cryptocurrency sector in 2021 with a special focus on analysing the performance of leading crypto, NFT, DeFi and Metaverse tokens in Q4 2021.
Launched in May 2021, the Evai.io free to use platform uses a combination of world-renowned economic research, machine learning and Artificial Intelligence to assess the financial health of over 1,000 cryptoassets. Ratings on the platform are generated daily against several key economic factors that are evaluated by AI and machine learning, before each asset is awarded one of eleven possible ratings, from A1 down to U.
The Evai A1 rating (“A1”) denotes cryptoassets of the highest technical and quantitative characteristics. B rating refers to cryptoassets that have a solid composition, while C rated assets are below average, and the lower categories of D and U relate to cryptoassets that are either distressed or unrateable due to a lack of fundamental data needed to process a rating accurately.
Moving beyond the media headlines and social hype, did the Evai autonomous rating protocol free from human bias detect underlying value in the fast-growing cryptoasset sector in 2021?
Key findings from the report have been summarised by the experts at Evai.io.
Top 10 Cryptoassets
- Bitcoin and Ethereum have been consistently tracking at B2 in 2021, but during the last 30 days of the year Bitcoin has posted a downgraded rating average of C2.
- In 2021 Bitcoin and Ethereum both posted new all-time highs of $69,044 (BTC) and $4,878 (ETH) respectively. The new highs put the lows of the historic 2020 coronavirus crash firmly in the rear-view mirror as institutional investors continued to enter the market this year.
- In the last 30 days XRP posted a significant improvement in rating entering the B3 category having averaged C2 over the previous 90 days.
- Decentraland (MANA) has held firm in the B rating category in 2021 and also featured in the A3 category. In the last quarter of 2022 MANA has spent over 90 days rated B3 and above.
- ENJ has experienced the biggest spread of ratings amongst the Metaverse tokens on the AI driven Evai ratings platform. While the 90-day average for ENJ is B2, the token has also featured in the A3 rating band and more recently during the downturn appeared as low as C2. During the last 30 days ENJ has retained its B2 position.
- The DeFi market cap has grown from $21 billion in January 2021 to over $153 billion representing an increase of 599%.
- In December 2021, the Evai unbiased ratings driven by Artificial Intelligence and Machine Learning picked up on signals ahead of the market as Terra (LUNA) jumped from B2 to A3 signalling the beginning of an upward price movement.
- Avalanche (AVAX) has sustained a solid B1 rating across the final quarter of 2021, while other Top 5 cryptoassets in the DeFi sector have fallen into the C category range.
- The relentless appetite for NFTs in 2021 has seen the market grow to $48.5 billion marking a steep incline of growth from 2018 when the market cap was approximately $48 million.
- In July 2021, SAND was upgraded from the B1 to A3 rating and the price sat below a dollar at $0.67. Over the last 5 months SAND reached its ATH high of $8.40 and now sits around $6.00
- During the final quarter of 2021 Evai has identified a downturn in ratings amongst the Top 5 NFTs with Axie Infinity (AXS), Theta (THETA) and Tezos (XTZ) all posting downgraded ratings from the B ratings category to the C category. Traders using the Evai platform may look to take up positions on these tokens when they next achieve B ratings status.
- CHRONO.TECH (TIME) – upgraded from C2 to B1 rating on 3rd August 2021 ($17.97).
305% price increase from August 2021 to 23 December 2021 ($72.91)
- BORA (BORA) – upgraded from B1 to A3 on 6th August 2021 ($0.21)
447.6% price increase from August 2021 to 23 December 2021 ($1.15)
- Circuits of Value (COVAL) – 90-day rating average movement from B2 to B1
564.6% price increase from 24th September ($0.01747) to 23rd December 2021 ($0.1161)
- Measurable Data Token (MDT) 90-day rating average movement from B1 to A3
194.8% price increase from 24th Sept 2021 ($0.03309) to 23rd Dec 2021 ($0.09754)
- Platoncoin (PLTC) – 90-day rating average movement from C1 to A3
70.8% price increase from 11th October 2021 ($0.4643) to 23rd December 2021 ($0.7932)
Assessing the results of the first Evai.io cryptoasset ratings report, Matt Dixon, CEO and Co-Founder said: “2021 has played host to another spectacular year of growth in the cryptoasset market as the number of assets has reached over 13,000 with the market cap pushing over the $2 Trillion mark. The rise of NFTs and new era of the Metaverse have expanded the number of entry points available to investors beyond Bitcoin and a handful of well-known cryptos”.
He added: “As new and existing investors continue to seek reliable and unbiased sources of information to assess the value of digital assets, we wanted to take a look back over the debut year of the Evai ratings to evaluate the performance of our AI and machine learning driven ratings. Removing human bias and hype, we have begun to demonstrate the valuable role independent ratings can play for investors in this fast-moving sector”.
To find out more about the evai.io unbiased AI and machine learning powered crypto ratings and how to use them as part of your cryptoasset investment strategy head to evai.io and the official YouTube channel for platform demonstrations, latest news and interviews with thought leaders and innovators in the crypto space.
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