Among more Bitcoin and Ethereum losses, the industry turns to stability-rating tools
The crypto industry is taking steps to mitigate against the ongoing volatility of assets, and help investors understand the safest places to put their money.
This week, according to data provided by Coinglass, traders had another wave of losses (including $116 million within an hour at one point), as Bitcoin declined to the $28,955 level and Ethereum dropped to $1,830.
This lead to a wave of liquidations that rolled across multiple crypto exchanges.
A liquidation is something which takes place automatically when a trader loses their initial margin on a position.
So which cryptocurrencies are most secure?
CoinGecko – which provides a fundamental analysis of the digital currency market, has now integrated with CER.live to include ratings for cryptocurrencies.
Users can now view ratings concerning security, audit, bug bounties, and insurance. Security reports come from CER, Certik, and others where available. Interestingly, there is no data for either Bitcoin or Ethereum.
However, going down the list of the top 10 cryptocurrencies by market cap, the first one of interest is Binance Coin which has a score of 95/100 from Certik but just 55/100 from CER.
Some of the top projects’ security ratings according to CER can be seen below:
- Solana – 81/100
- Cardano – 80/100
- Dogecoin – 17/100
- Polkadot – 40/100
- TRON – 89/100
- Shiba Inu – 46/100
- Avalanche – 55/100
Other trends in trading: The whales are up
However, as Bitcoin keeps holding in the $29,000 zone, Santiment has tweeted that a certain number of major whale wallets keep acquiring more exposure.
These addresses contain between 100 BTC and 1,000 BTC. Since late January, these wallets have been acquiring more Bitcoin, when the price plummeted to the $33,500 area.
Compared to three months ago, nearly 190 new wallets have been added here.
From the historical point of view, Santiment says, the rising amount of this type of BTC address shows a correlation with the price as both begin to go up.