Registered by the Russian Ministry of Justice in August, Bitcoin Association Russia released a prognostic Top 10 cryptocurrency rating list by market capitalization. According to the newborn association, the current top list will remain practically unchanged in the course of the next two years.
Russia became the seventh country in the world after Switzerland, Canada, the U.S., South Korea, Hong Kong and Japan to host such an organization. However, the degree of Bitcoin Association Russia’s competence is doubtful to say the least, as the project is spearheaded by bloggers and “professional traders” from a suspicious Russian crypto fund which has allegedly partnered with Bitfinex, Huobi and Binance. Notably, the Association relies on paid membership, whereas the affiliated media sources actively promote the fund behind it.
The official website of the organization is still under development, and there is no information available on the project itself, whereas the phone number advertised on it is not working. Neither the press release, nor the official website do contain any links to the rating itself.
Ripple (XRP) was placed first in the list. It is followed by bitcoin and ethereum, with EOS, NEO, Stellar, litecoin, Bitcoin Cash, Monero and Binance Coin ranking next.
According to Association Chairman Artur Alexeev, the “long-term growing trend will continue for bitcoin”. However, the organizers of the project believe that XRP – a surrogate asset behind the Ripple payment network – is the most promising cryptocurrency with a tremendous potential for growth. Bitcoin Association Russia opines that the asset growth will be backed by future integration of Ripple protocol with business processes orchestrated by the world’s largest banks.