The LEO token has always maintained the narrative of being special and strong claiming how it can be a stable and profitable asset in the cut-throat cryptocurrency market. Currently, LEO’s price is $5. 83, which means the existence of a rather small daily increase of 1. 75%. This kind of growth is not radical which gives credibility to the token from LEO and may be good for investors who want a steady hike of their assets.
LEO is further ranked inside the top 20 companies with a market value of $ 5,398,867,184. This considerable appreciation proves the usefulness of the token in the framework of the cryptocurrency. Market capitalization is a very important factor when it comes to the value of any given coin since it is a reflection of the total value of a coin in the market place based on the number of coins in circulation. It also shows that LEO is accepted in the market, investors have confidence in it and it occupies a significant space in the market.
The trading turnover of LEO today is $1,914,487 for 35 times the average daily trading turnover. The number of positive cases rose by 56 % over the last 24 hours. Still, it has the volume-to-market cap ratio of 0. 04% means that in spite of the fact that the token has significant trading activity, most of them tend to remain in investors’ possession instead of circulating. This behavior is observed in tokens which investors are inclined to hold for a long term and in which trading activity is not very intensive.
There are currently 925,586,832 LEO tokens in circulation out of the total number of coins in circulation that stands at 985,239,504. This state is close to total token circulation, which means that the overwhelming majority of the total tonnage is already in investors’ hands. The lack of a capped maximum supply introduces an additional level of risk but, at the same time, contributes to the assumption that the token’s supply might be managed in the future by the issuer for the purpose of further controlling supply and demand forces that define its rate.
LEO was launched by iFinex, Bitfinex’s parent company and is an Ethereum-based, utility token to assist users in getting the best of experiences in the Bitfinex platform. The token’s main use is then to cut short some of the trading cost tied to the exchange platform, making it appealing to high volume traders. LEO has been applied exclusively among the services of Bitfinex, which has led to its continuous relevance in the market.
LEO has a fully diluted market cap of $5,746,816,012 it is thus the total market capitalization that the token could have if every token is in existence. It is also in the same order of magnitude with its current market capitalization, which also emphasizes the high rate of token circulation and its integration into the market. The close co-relation between these two figures depicts that the market environment is quite stable for LEO and there is no possibility of a large fluctuation in the prices due to availability of large supply.
Thus, the performance LEO demonstrated today can be viewed as quite impressive and proves the role of this token in the crypto market. this token’s slow and steady gain in value, solid market cap, and trading volume bring into light its utility-based value proposition and long-term potential. Thus, despite the fact that LEO rates may not increase several fold during several weeks or even days, as it may happen in the case of other, less authoritative tokens, LEO has all features of a worthy investment instrument, applicable in the conditions of highly volatile cryptocurrency market indicating gradual, stable growth.
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