Aave

Pax Dollar

Convex Finance

Rocket Pool ETH

Frax

TokenInsight is delighted to release its latest monthly rating updates. Based on our data-driven and auto-rating platform, TokenInsight diligently tracks the performance and fundamental metrics of various blockchain projects and tokens, providing users with up-to-date and comprehensive assessments.
Currently, TokenInsight has listed a total of 390 token ratings. In August, the crypto market experienced a downturn, which was directly reflected in the ratings. There were a total of 66 projects that saw a decrease in their rating results, with only 5 projects experiencing an increase.
<h3 id="rating-changes">Rating Changes</h3>
Below, we have listed some noteworthy token rating changes in August 2023.
New Listed:
<ul>
 <li><a target="_blank" href="https://tokeninsight.com/en/coins/sei-network/rating">Sei Network ($SEI)</a>: Rated BB Stable.</li>
</ul>
Sei Network is a Layer1 blockchain built using the Cosmos SDK, and $SEI is the native token on this blockchain used for gas and governance.
Project Upgrades:
<ul>
 <li><a target="_blank" href="https://tokeninsight.com/en/coins/rocket-pool-eth/rating">Rocket Pool ETH ($RETH)</a>: Upgraded from B Stable to BB Stable.</li>
</ul>
The rating upgrade for $RETH can be attributed primarily to on-chain and ecosystem indicators. Since the launch of Ethereum 2.0, the LSD sector has shown strong growth, and Rocket Pool, the underlying project of $RETH, performs prominently in this space.
<ul>
 <li><a target="_blank" href="https://tokeninsight.com/en/coins/paxos-standard/rating">Pax Dollar ($USDP)</a>: Upgraded from BB Stable to BBB Stable.</li>
</ul>
The rating upgrade for $USDP is mainly driven by secondary market indicators for the token.
Rating Downgrades:
<ul>
 <li><a target="_blank" href="https://tokeninsight.com/en/coins/binance-coin/rating">Binance Coin ($BNB)</a>: Downgraded from AAA Stable to AA Stable.</li>
</ul>
The downgrade of $BNB's rating can be attributed primarily to secondary market and ecosystem indicators. $BNB has faced adverse effects due to ongoing regulatory challenges faced by Binance.
<ul>
 <li><a target="_blank" href="https://tokeninsight.com/en/coins/tether/rating">Tether ($USDT)</a>: Downgraded from A Stable to BBB Positive.</li>
</ul>
The rating downgrade for $USDT is mainly driven by secondary market indicators for the token. $USDT has experienced relatively significant price fluctuations recently.
<ul>
 <li><a target="_blank" href="https://tokeninsight.com/en/coins/usdd/rating">Decentralized USD ($USDD)</a>: Downgraded from BBB Stable to BB Stable.</li>
</ul>
The rating downgrade for $USDD is mainly driven by secondary market indicators for the token.
<ul>
 <li><a target="_blank" href="https://tokeninsight.com/en/coins/terrausd/rating">TerraClassicUSD ($USTC)</a>: Downgraded from C Negative outlook to D Stable.</li>
</ul>
The rating downgrade for $USTC is mainly driven by secondary market indicators for the token.
<ul>
 <li><a target="_blank" href="https://tokeninsight.com/en/coins/aave/rating">Aave ($AAVE)</a>: Downgraded from AA Stable to A Positive.</li>
</ul>
The rating downgrade for $AAVE can be attributed primarily to the secondary market, on-chain, and ecosystem indicators. Aave is closely linked with Curve and may be affected by the <a target="_blank" href="https://tokeninsight.com/en/news/topic/curve-crisis">Curve Crisis</a>.
<ul>
 <li><a target="_blank" href="https://tokeninsight.com/en/coins/frax/rating">Frax ($FRAX)</a>: Downgraded from BBB Stable to BB Stable.</li>
</ul>
The rating downgrade for $FRAX can be attributed primarily to the secondary market, on-chain, and ecosystem indicators. Frax is closely linked with Curve and may be affected by the Curve Crisis.
<ul>
 <li><a target="_blank" href="https://tokeninsight.com/en/coins/convex-finance/rating">Convex Finance ($CVX)</a>: Downgraded from BB Stable to B Stable.</li>
</ul>
The rating downgrade for $CVX is mainly influenced by the secondary market, on-chain, and ecosystem indicators. Convex Finance is closely linked with Curve and may be affected by the Curve Crisis.
<ul>
 <li><a target="_blank" href="https://tokeninsight.com/en/coins/celeb/rating">CELEBPLUS ($CELEB)</a>: Downgraded from CC Stable to C Negative.</li>
</ul>
The rating downgrade for $CELEB can be attributed primarily to underlying technical and security indicators. According to TokenInsight 's analysis, there are sustainability concerns with this project.
<h3 id="about-tokeninsight-and-rating-methodology">About TokenInsight and Rating Methodology</h3>
TokenInsight is an indicators-driven blockchain institution that provides market intelligence through ratings, industry research, and data analysis. Our rating methodology utilizes standardized criteria, combining quantitative and qualitative analysis to ensure objective and consistent evaluations. For a detailed understanding of our methodology, rating symbols, and outlooks, please refer to the <a rel="noopener noreferrer nofollow" target="_blank" href="https://tokeninsight.gitbook.io/support/methodologies/rating/token-rating">TokenInsight Token Rating Methodology</a>.
Notice: TokenInsight's rating methodology is solely for assessing the project and token's qualification and risk within the blockchain industry. It is not intended for evaluating the investment value of tokens. The rating results should not be the basis for making investment decisions.
Investing in blockchain projects carries inherent risks, and individuals should conduct their own research and seek advice from financial advisors before making any investment.
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TokenInsight Rating Monthly Review: August 2023

Table of Contents

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