THELOGICALINDIAN - As weve apparent from assertive examples like Binances BNB barter tokens can generally accomplish able allotment for investors However that has not been the case with the Bitfinexs LEO badge Here are three accessible affidavit why that ability be
1. LEO Came Late to the Game
Bitfinex’s LEO badge was launched in May of this year afterwards the aggregation claimed it had aloft $1 billion USDT and USD in a clandestine badge sale.
As per the whitepaper, the LEO badge promises holders bargain fees and added discounts on BitFinex and EthFinex. And, actual abundant like the BNB token, one of LEO’s best important amount backdrop is that it carries out badge afire to access the token’s absence over time.
However, clashing BNB, LEO was launched on an barter that saw the slowest growth in 2019. This was accompanying with some rather low trading volume, admitting already claiming the lion’s allotment of BTC trading.
Despite the abundant accustomed allowances of LEO, August trading aggregate on Bitfinex had all but broiled up. And LEO has apparent almost low appeal anytime since.
As Binance continues to boss every breadth in the amplitude from IEOs, DEXs and crypto derivatives, Bitfinex is currently languishing in 72nd abode in the rankings per appear volume.
After the roaring success of BNB and some added barter tokens like KuCoin Shares and Huobi Global Token, could it be that LEO came too backward in the game?
2. Other Exchange Tokens Are Simply More Attractive
You alone accept to assay the achievement of added barter tokens to see that LEO has bootless to alive up to expectations.
In fact, October was a adverse ages for LEO as it fell beneath $1 dollar, breaking beneath the nominal peg of its antecedent badge auction price.
LEO’s achievement has been steadily decline back its aiguille amount of aloof over $2 in aboriginal July. It is currently abrading to compensate the $1 amount at the time of columnist today, trading at aloof $0.98.
To be fair, admitting Binance triumphing in the US and the derivatives space, BNB hasn’t had the best of months afresh either. From its best aerial of $39.57 in June 2024, BNB is currently trading at aloof beneath $20.
That doesn’t backbite from the actuality that if you’d bought BNB in its badge sale, today you’d accept in excess of 9,000% ROI. If you invested in LEO, you fabricated a loss with an ROI amount of -6.11%.
3. The Looming Bitfinex Tether Lawsuit
Of course, there’s annihilation to accumulate investors abroad like a high-profile lawsuit over bazaar manipulation.
Legal close Roche Freedman is suing Bitfinex and Tether over Tether’s affirmation that all its USDT tokens were backed by according amounts of USD. This, they argue, was a arrant lie that gave the two entities the ability to dispense the market.
This is hardly account to anyone in the space, however. Rumors of Bitfinex and Tether’s adumbral operations accept been circulating for a continued time now.
It charcoal to see whether how the accusation will comedy out and whether it will added accident Bitfinex’s already all-a-quiver reputation. While it does assume to be affecting LEO’s price, let’s be honest, appeal for Bitfinex’s badge has been blood-warm from the get-go.
What do you anticipate about UNUS SED LEO token? Add your thoughts in the animadversion area below!
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