21Shares and CoinGecko Release Report on Global Cryptocurrency Classification Standard

21Promotions AG (“21Promotions“), the world’s largest issuer of crypto-currency exchange-traded products (ETPs) and a subsidiary of 21.co, today released The Global Crypto Classification Standard reportin collaboration with CoinGecko is the world’s largest independent cryptocurrency data aggregator. report creates a unified way of classifying crypto assets so that investors and regulators can better understand the nuances within an asset class.

Unlike traditional financial assets, crypto varies dramatically from one asset to another, which creates a need for standard a way to generalize and understand different assets. To address this issue, the introduced methodology consists of three levels of categorization, with each crypto asset assigned to one variant at each level. Levels include:

• 1st level: Crypto heap (i.e. cryptocurrencies, smart contract platforms, decentralized applications (dApps))
• Level 2: Mapping the market by sector (i.e. infrastructure, metaverse, decentralized finance) and industries (e.g. developer tools, payment platform, loan/lending)
• Level 3: Taxonomy of crypto assets (i.e. cryptocurrency, staking currency, governance token, etc.)

“Crypto is still in its infancy, but it is important to have standard a way of classifying an asset class so that investors can understand both the similarities and differences between different assets.” said Eliezer Ndinga, director of research at 21.co, the parent company 21Promotions. “At a meeting with CoinGeckowe were aware of the independent nature of the company and its reputation as a one-stop shop for information on new projects in crypto space has made them the right partner for this kind of initiative.”

In addition to report published today 21Promotions And CoinGecko used the methodology proposed for the evaluation of the Top 100 crypto assets by market capitalization. classification – made in collaboration between the two companies – will be available on CoinGecko site by summer 2023.

“The ability to systematically rank and classify crypto assets based on an exploratory approach aligns well with our mission as an independent cryptocurrency data aggregator.” said Bobby Ong, chief operating officer and co-founder CoinGecko. “We are very pleased to be partnering with 21Promotions to provide consumers around the world with a foundation they can rely on as the space evolves.”