Mubasher: Weiss Ratings issued the first grading cryptocurrency assessment, which gave digital currencies ratings on a scale from A to F based on risk, reward, technology, and fundamental indices.

The Florida-based firm gave bitcoin a fair or “C+” rating, citing that the currency “is encountering major network bottlenecks, causing delays and high transactions costs.”

Bitcoin, however, got high scores in terms of security and widespread adoption, the agency said late Wednesday.

Ethereum, the second biggest digital currency in terms of market capitalisation, received a good or “B” rating, since “it benefits from more readily upgradable technology and better speed, despite some bottlenecks,” according to Weiss.

None of the 74 virtual currencies got an excellent “A” grade.

By 09:42 am GMT, bitcoin rose 2.74% to $11,342.8, while Ethereum gained 5.27% to $1,059.96.

Meanwhile, ripple, which sold coins for $91.6 million during the fourth quarter of 2017, fell by 1.90% to $1.35, having received a “C” rating from Weiss.

Total market cap for all currencies last reached around $556.2 billion.