Flipside Crypto Grading Scheme Expands to CoinMarketCap, Others

Flipside Crypto, a Boston startup developing analytics for cryptocurrencies, has landed its main metric onto CoinMarketCap and other financial websites including MarketWatch, TheStreet and Stocktwits, the company says.

Founded in 2017, Flipside says its Fundamental Crypto Asset Score—FCAS for short—rates the health of blockchain-enabled currencies on a 1,000-point scale based on transaction data and the activity of developers working on open source projects associated with the coin. Scores on the FCAS scale rank the cryptocurrencies from Superb to Attractive, Basic, Caution, and finally Fragile.

The thirst for cryptocurrency analytics has not lessened in even in the wake of the fledging securities sector’s broad, steep declines in values over the summer. Another Boston data startup, CoinMetrics, raised $1.9 million in seed funding earlier this month to push its platform for institutional investors seeking financial and benchmark data for cryptocurrencies.

Flipside CEO Dave Balter says in a press release announcing the partnerships that “retail and institutional investors flock to these platforms to access sophisticated data about financial instruments and have been hungering for a way to better understand cryptocurrencies.”

He adds that the FCAS metric will give them an “easy-to-understand” data point to use beyond simply the price of a coin.

The Dow Jones-owned financial website MarketWatch displays a Top 10 list of cryptocurrencies based on Flipside’s FCAS. As of Monday afternoon, the list showed: EOS, Ethereum—both graded “Superb”—then Bitcoin, Tron, Ox, Cardano, Augur, Dash, Kin, and Decred—all graded “Attractive.”

In a press release, Dan Shar of MarketWatch says, “Our customers are thirsty for additional information for evaluating cryptocurrencies. It was an obvious win to provide FCAS data on our cryptocurrency pages.”

Last March, Flipside raised $3.4 million from True Ventures, The Chernin Group, Resolute Ventures, Boston Seed Capital, Converge, and Founder Collective. It added another $1 million from Coinbase Ventures, Digital Currency Group, and others in November.

Brian Dowling is a Senior Editor at Xconomy, based in Boston. You can reach him at bdowling [at] xconomy.com. Follow @be_d

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