LEO token today’s price at the time of writing is $5.89, 24-hour volume $7,172,760, with a market cap of $5.6 billion. The price volatility in March has a resistance level of $6 and a support zone level of $5.
In 2022, the highest price for LEO tokens reached $9.3, which occurred in February, but price movements during the week tend to be flat.
But what exactly is Unus Sed Leo, and what does it have to do with Bitfinex? We will try to find out in more detail about the LEO token.
Contents
What is Unus Sed Leo?
Looking at the Unus Sed Leo whitepaper, the definition is that the sentences Sed Leo comes from a Latin quote from Aesop’s fable, “The Sow and the Lioness.”
It was about a sow pig bragging about how many children she had. To the lioness, she asked if she only had one cub.
And the lioness replied, “One, but a lion.”. What is the meaning of the story? The sow that boasted had many children but was just a weak pig. While the lioness only has one cub, it is a strong lion cub.
This philosophy was later adopted by iFinex, which describes itself as a strong lion cub.
Starting from being a company, this company has a goal that unites people associated with the company. Well, it’s from team members to shareholders, from communities to individual supporters.
Meanwhile, the LEO token is a native token developed by IFinex, which is a fintech company that is a private company. operate the trading platform under the Bitfinex business name.
Founder Unus Sed LEO token
Unus Sed Leo is a cryptocurrency created for Ifinnex which is the parent company of Bifinnex. While Bifinnex itself was founded by Giancarlo Devasini, Raphael Nicolle. The company was founded in 2012 headquartered in the British Virgin Islands.
According to Coinmarketcap, Ifinex launched the Leo token because the payment processing company, Crypto Capital, had its funds confiscated by the government.
LEO Token
LEO token is a digital currency created by Unus Sed Leo limited in May 2019.
Here Unus Sed Leo Limited is a company subsidiary of iFinex. LEO tokens are becoming the cryptocurrency in the Bitfinex product ecosystem. IFinex is the parent company of Bitfinnex. LEO tokens are not available to US citizens, due to strict regulations.
Leo token made its first Initial Exchange Offer (IEO) from May 2019 to May 13, 2019. However, there is an internal problem that iFinex is suspected of carrying out illegal transactions reported for allegedly holding funds from other exchanges, including QuadrigaCX.
Bitfinex itself was hacked, and iFinex gives a solution to launch LEO tokens and sell them via IEO to raise $1 billion, where each LEO token was pegged to 1 USDT to provide $1 billion during fundraising.
Leo tokens are useful for the IFinex ecosystem, like BNB, Leo token holders will also get discounts for transactions on Bitfinnex,
The current circulating supply is 953,954,130.00 LEO, and there is no maximum supply for this token.
LEO Token contract address
The contract address of the Leo token can be tracked via Etherscan.io, you can find the contract address by copying the contract address 0x2af5d2ad76741191d15dfe7bf6ac92d4bd912ca3 in a search.
LEO token Bitfinex
The Bitfinnex hack event in 2016 really hit this exchange, but the team stuck together and then went through the LEO token launch program through iFinnex where all BFX token holders get 100 cents for a dollar and to buy index shares. And all redeemed tokens are then burned.
In addition, Bitfinnext then created a tradable Recovery Right Token (RRT), for anyone who has converted to iFinex shares.
Bitfinex is continuously working towards achieving recovery. Not only collaborating on Leo tokens, they are also collaborating with law enforcement to track and confiscate stolen Bitcoins.
In February 2019, Bitfinex managed to recover 28 BTC, from cooperation with the US government. They are also trying to offer hackers an opportunity to return most of the stolen funds safely and maintain the percentage them as a reward for collaborating in finally solving this problem.
LEO token Binance
Binance does not trade Leo tokens in their marketplace, we didn’t find currency when using the search keyword LEO in the search box.
However, Binance provides information regarding prices, charts, and news. Anyone looking for information on Leo token prices, volume, price changes, and so on can use Binance charts.
LEO token Kurs
LEO sold for the equivalent of 1 USDT at the time of IEO launch, currently 1 LEO is equivalent to $5.88. And the price hit an all-time high of $8.04 formed on February 8, 2022, and an all-time low of $0.8036 formed on December 25, 2019.
To calculate the Leo token’s exchange rate against CHF and Euro you can use the BTC-echo.de exchange rate calculator.
LEO token mining
Referring to Coinairo there are three ways of mining Leo, but in the whitepaper, there is no information related to mining Leo. Token distribution only from selling tokens outside the US without any solicitation of advertising. The issuer will issue 1 billion tokens which will be sold through a private offering.
It seems Leo’s token transactions, are off-chain, so mining Leo is impossible.
The distribution mechanism is to buy back the initial token and burn the token so that no token lasts forever. iFinex as the token issuer will burn tokens from a percentage of the company’s profits.
Community
The Leo token has community support on Reddit as well as Twitter, and Telegram.
In the Reddit community, Bitfinex has a 9.8k member following which was created on May 22, 2013. In this community, managers do not update information every day, but this community is quite helpful for fans to follow news about Bitfinex.
The Bitfinex Twitter community has 872.1K Followers who joined Twitter in October 2012. The Bitfinex Twitter social media admin is more active than the Reddit community, they often provide updates of information that may be useful to their followers.
It is noted that until now there are Bitfinex 3,592 Tweets shared on this social media platform.
Telegram
Another community support is the telegram channel, Bitfinex has 20,193 members at the time of writing. The group admin also seems to be active in answering questions to members.
How do Unus Sed LEO work
The purpose of Leo tokens is to be at the heart of Ifinex, where Leo token holders will benefit from using tokens. Which is not detailed in the whitepaper. However, an important use of the Leo token is the reduced fee as well as Binance’s BNB token.
It is a kind of discount for makers and takers when making transactions within the Bitfinex environment.
What is the Unus Leo token used for?
The Leo token is used for exchange on Bitfinex.
- It becomes a kind of discount for makers and takers or a reduction in borrower costs.
- LEO holders are also useful for 25% cryptographic withdrawals and reduced deposit fees.
- Another use of the Leo token is to provide discounts on products and services of the iFinex company, which is the parent company.
- Tradable tokens are available on some exchanges.
How to buy Unus Sed Leo
How to buy Leo tokens, the first is to find an exchange that provides Leo tokens on their platform for trading. The exchange can be a centralized exchange or a decentralized exchange known as Dex.
Furthermore, depending on the procedure for purchasing through the selected exchange, it may be that the buyer has to register first, then verify the account if it is a centralized exchange.
But if it uses a decentralized exchange, you have to prepare a wallet, a number of crypto assets for swapping, or ETH, which is the token that is widely used for swapping Leo tokens.
It is important that you have a wallet to store Leo tokens, and thanks to ERC-20 tokens, users can use crypto wallets such as MyEtherWallet, Jaxx, Ledger, and Trezor.
Where to buy Unus Sed Leo?
Since this Leo token is basically having the purpose for Bitfinex recovery, the first to get this token is on the Bitfinex exchange.
Bitfinex
Bitfinex users can trade or buy Leo tokens with USD pairs, to start trading users must fund their accounts using available methods, credit cards, or with asset crypto.
OKEx
OKEx platform also uses dark theme colors, users can trade LEO with USDT. To start the user must register first, and log in using the password to access the platform.
Gate.io
Leo tokens are also available on the Gate.io platform, users can trade Leo tokens for USDT. Since it is a centralized exchange, users must first register to use the trading platform.
FTX
The FTX exchange which is a leveraged token derivative cryptocurrency exchange also provides Leo tokens, it offers LEO/PERP, USD trading.
Hotcoin global
Hotcoin Global exchange headquarters in Sydney Australia, but covers services globally. Users can find Leo tokens on this exchange which is a centralized exchange.
Digifinex
Digifinex has an average trading volume of 6 billion, it is a cryptocurrency exchange based in Singapore. Users can find Leo tokens on the Digifinex platform.
Is Unus Sed Leo a good investment?
Cryptocurrency investment is a risky asset, there is no guarantee that the token will increase in value in the future. It will all depend also on the demand in the market. When demand increase, hence value also arises.
The Leo token itself has its own advantages and disadvantages. For investors, volume and price can be useful information for analyzing an asset, whether it is worth investing in or not.
Based on Coinmarketcap data, the current Leo token has scored a market cap of more than 5 billion USD. With an average daily volume of 8 million USD, the volatility of the Leo token is high.
Referring to Cointobuy, this Leo token received a score of 2.8 from all user votes. This is a low score, so the conclusion is that the risk is still high to choosing Leo tokens.
Unus Sed Leo price prediction
CryptonewsZ predicts Leo token 2022 to hit $8.29. a year later the value increases in 2023 with the expectation of reaching $9.32. Forecast for 2026 Leo token price up to $15.99.
Wallet investors predict the value of the Leo token in the next year to reach $98.90, and the forecast for the next five years or 2027 its value will reach $25,293.
Priceprediction dot net predicts the Leo token to increase from year to year. Where in 2022 they predict the value of the Leo token will reach $8.06. Furthermore, the token price is increasing and the forecast for 2031 token value will reach $253.89
Digitalcoinprice is also optimistic about the future of the Leo token. This forecasting site in 2022 will reach an average of $7.90. The asset value tends to increase after that, and the forecast 2030 token value increases to $30.39
Final thought
The launching of Leo token was basically an attempt to recover for the Bitfinex. After the hacker attacked this exchange. This may be one of the drawbacks, Leo token.
Although this becomes controversial for Leo token, Bitfinex is one popular exchange. This included crypto-asset stand on top hundred crypto rank based Coinmarketcap.
Note: this article is for informational purposes only and does not constitute investment advice or solicitation. Forex, crypto CFDs are risky assets, each investor is responsible for his/her investment.
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