The cryptocurrencies coverage is to be made very soon, provided by an American stock brokerage firm EF Hutton. This firm was founded in 1904 to serve digital finance services including online investment services. EF Hutton is a controlled by Hutn Group Inc., which also owns mobile communications services provider Vibrant Mobility Inc. and integrated social networks and online services provider Megga Inc.
The cryptocurrencies coverage will be carried out on of bitcoin (BTC), ethereum (ETH), ripple (XRP), eos (EOS), litecoin (LTC), bitcoin cash (BCH), cardano (ADA) as well as some of the digital assets. Each of the cryptocurrecnies will also be rated according to the EF Hutton unique methodology.
EF Hutton CEO Christopher Daniels explained that the rating scale starts from one star to five stars, where five stars indicate a positive perspective. It is the best and highest rating that financial instruments can posses, and it also suggests significant appreciation within the next year. The one-star rating means very poor perspective for the next 12 months.
The methodology used is both simple but ingenious – each cryptocurrency is evaluated by considering short, medium and long-term factors that will affect its price. The parameters include a purpose for which the instrument was originated, how the instrument is positioned versus other instruments, and many others – for instance, liquidity. These factors, combined with the EF Hutton view on the instrument, are the core method of rating and coverage.