Bitfinex’s massive hold on LEO tokens has the crypto world buzzing. With 64% of the supply under its control, the future of LEO hinges on Bitfinex’s next move. Discover how this concentration of power impacts the market and what it means for your investments.

Introduction to Bitfinex’s LEO Token Hold

The UNUS SED LEO (LEO) token price has shown consolidation for more than 128 days on the daily chart. Its candlestick formations have displayed an accumulation on a massive level on the daily chart. The bears and bulls appeared to be in proper harmony despite significant fluctuations in the broader market. The LEO price stayed within the range in intact condition, and no such setbacks have been displayed yet.

The slippage of either side, from bulls or bears, would lead to a lightning-fast move, whether southward or northward. It depends entirely on the bias of any one side, but it would give LEO a direction. Looking at LEO’s market cap and 24-hour volume, the liquidity ratio was at 0.02%. This poor ratio displayed a significant lack of liquidity in the asset. Thus, investors should stay cautious (DYOR).

Cryptocurrency Market Trends and LEO Token

What Do UNUS SED LEO (LEO) Indicators Point At?

Indicators signify strong uncertainty of a slight bullish perception. For example, the overall trend developed at the start of 2024 turned LEO’s primary trend sentiment bullish, with a 65% advancement in price from $3.75 to $6.18 within 45 days. When writing, it was witnessed that the LEO price has been above the 200-day EMA band in the past 12-month span. However, the 50-day shorter band displayed mild bullishness or a sideways reaction of the price, as in the last 128 days, it traded near the orange band.

MACD also witnessed a steep reaction to its price consolidation, where the signal and MACD lines overlapped from a longer span, and the histogram was at 0.00572. Likewise, the RSI has also flashed a horizontal reaction to the LEO price. It was noticed that the RSI was slightly above 14-SMA, and the median line was 52.26.

Detailed Token Data and Coin Analysis

Reason Behind the Price Action of UNUS SED LEO Token

Based on CoinMarketCap information for UNUS SED LEO (LEO), the iFinex company has been committed to buying back these tokens from the market every month. The iFinex buys the token at the market rate each month, equivalent to at least 27% of the revenues generated by the company. Its circulating supply has been planned in such a peculiar way that it would diminish over time, which, as of writing, stood at 925.900 Million LEO. The floating supply was reduced from 985.239 million in total supply, which was initially set at 1 billion LEO.

As per the CoinCarp website, the statistics of UNUS SED LEO holders highlight that it has over 2848 holders. It was noticed from the rich list data that the top 10 holders have the most circulatory supply, precisely 65.93%. Bitfinex holds 64.80%, which counts to 648 Million LEO and sits at the top of the list.

The Role of iFinex in LEO’s Price Movement

One of the primary reasons for the prolonged consolidation in price was in its tokenomics. Major buyback seamlessly happened in the LEO, with Bitfinex exchange company iFinex Inc, leading to a lack of trading activity in the asset. Besides, mass accumulation by iFinex led to its price stagnation at the major supply level.

Here’s the Catch

There happens to be a catch here for a northward or a southward direction movement to come. If the iFinex decides to sell, a lack of demand in the crowd could lead towards a southward decline. Meanwhile, the abundance of demand could ignite in the northward direction.

Crypto Trading Tools for LEO Investors

To navigate the live cryptocurrency market and make informed decisions, investors can leverage various crypto trading tools. These tools offer real-time analysis on cryptocurrency, including LEO’s market performance, coin price charts, and technical indicators.

Recommended Tools:

• CoinMarketCap: For comprehensive token data and live cryptocurrency market updates.
• TradingView: For detailed coin analysis and crypto coin price charts.
• CryptoCompare: For comparing different coins and tokens in the cryptocurrency coin market.

Understanding the Live Cryptocurrency Market

UNUS SED LEO (LEO) has been consolidating for over 128 days with low liquidity. Bitfinex, holding 64% of the supply, influences price. Indicators looked neutral at press time, and the price movement hinges on Bitfinex’s actions.

Real-Time Analysis

Real-time analysis of LEO’s market performance helps investors stay updated with the latest trends and price movements. Comparing LEO with other new coins and established tokens provides a broader perspective on its position in the cryptocurrency market trends.

Investment Strategies for LEO Token

Tips for Investing in LEO:

• Long-Term Investment: Given the buyback strategy and diminishing supply, holding LEO long-term could yield significant returns.
• Short-Term Trading: Utilize crypto trading tools to capitalize on price fluctuations and market trends.

Potential Risks:

• Market Volatility: The cryptocurrency market is highly volatile, and LEO is no exception.
• Dependence on Bitfinex: The price movement of LEO is heavily influenced by Bitfinex’s actions, adding an element of unpredictability.

Summary: The Future of LEO in the Crypto Market

In summary, Bitfinex’s significant hold on LEO tokens plays a crucial role in its price movement and market behavior. Understanding the token data, market trends, and utilizing crypto trading tools can help investors make informed decisions. While the future of LEO holds potential, it also comes with risks that investors should carefully consider.

The post Bitfinex Holds 64% Of LEO Token’s Supply: Why and How? appeared first on The Coin Republic.

The author does not own or have any interest in the securities discussed in the article.