In this post, we will focus on the LEO coin to answer the question of whether UNUS SED LEO is a good investment or not? Here, we will try to answer the most important questions concerning UNUS SED LEO, including: What is the LEO coin? What is it for? How does it work? Is it reliable? What are its goals? How do crypto analysts and experts think about it? Is it likely to go up or crash in the future? How high can the UNUS SED LEO price go?
If you are interested in learning more about UNUS SED LEO and its investment opportunities, keep reading this post. We will try our best to provide comprehensive information and a guide about it.
What Is LEO Coin?
LEO or UNUS SED LEO launched by Bitfinex exchange in May 2019 -at the core of the IFinex ecosystem- to be used to get a discount on crypto to crypto pairs when trading. More interestingly, Other cryptocurrencies are issued on one blockchain, but LEO was launched on two blockchains. Around 64% of the (original) supply lies within Ethereum, while the others are located within EOS.
In essence, LEO is an exchange utility coin similar to Binance Coin. If LEO works well, it may give Bitfinex exchange the boost it has been seeking. Bitfinex LEO users can get a %15 discount from crypto to crypto pairs and an additional 10 percent off for those having over 5,000 LEO tokens. Also, LEO can be used to reduce other fees on trading, lending, deposits, and withdrawals.
Nevertheless, LEO coin investors have to remember that it doesn’t offer anything in terms of smart contracts or dApps. LEO coin’s value is interrelated with the Bitfinex exchange. In other words, If Bitfinex performs well-thought strategies like what we saw concerning Binance, LEO coin’s price will go up in the market; otherwise, both of them will doom to failure.
How Does LEO Coin Work?
Like Binance coin, LEO coin will go through a token burning event in which Bitfinex will buy back LEO coins with their monthly revenues. In the end, they plan to reduce the total supply of LEO coins to 100 million. As Bitfinex burns more LEO coins, their value will rise as they become scarcer.
LEO coins are available with a credit or debit card on crypto exchanges like Bitfinex, OKEx, Gate.io, Coinbase, or Coinmama. You must create an LEO wallet (an account) and get it approved before you can buy LEO. Since UNUS SED LEO was issued on both Ethereum and EOS, it is supported by a wide range of crypto wallets. This includes wallets tied to centralized exchange accounts, as well as unregulated wallets. Of these wallets we can name MyEtherWallet, imToken, Jaxx, MetaMask, Trezor, and the Ledger Nano S.
Finally, let me say that there are some limitations. Most traders will not be able to buy or take part in the LEO like US citizens. They can’t access Bitfinex, and LEO tokens cannot be sold to them. It is important because US traders represent a large part of the crypto market.
LEO Coin: Is It Reliable?
Critics are unsure about the LEO coin because the past actions taken by Bitfinex and Tether are both highly controversial. Considering Bitfinex has had a long history of banking issues, such as closing accounts and changing them frequently. Moreover, Bitfinex’s payment provider, Crypto Capital, lost nearly $850 million of their money. It is still unclear how and why the money went missing. Also, take into account that Crypto Capital has been associated with several suspicious companies. Then, Bitfinex had to borrow the money from Tether’s reserves to cover the losses. Thus, the most important goal of the LEO coin is to gain what was lost by Crypto Capital.
Bitfinex Started an IEO with its new token LEO to repay Tether. The name LEO comes from the company’s motto: “One, but (it is) a lion”. In a nutshell, the motto is a Latin citation from Aesop’s fable, “The Sow and the Lioness.” In the tale, the sow brags about her numerous children then asks the lioness how many children she has. The lioness responds, “UNUS SED LEO,” meaning, “One, but a lion.” The fable illustrates the virtue of quality over quantity and individual strength.
LEO was not an unprecedented experience for Bitfinex. In 2016, Bitfinex was hacked and lost almost $60 million in Bitcoin, and subsequently, launched the BFX coin. Bitfinex could raise enough money to cover the losses, because of the 2017 bull market. With that said, all BFX holders received a full refund in US dollars. However, it is worth considering if they could do this if the market had not reached such highs. Additionally, adding to the negativity of the situation, it has to be mentioned that Bitfinex is not a regulated exchange.
With that said, it also has to be added that to maintain investor confidence and add more transparency, a dedicated dashboard was created to break down in full detail the coin repurchases and burn process together with the current circulating supply available in real-time. Nevertheless, there is this possibility that data updated on the dashboard may be inaccurate.
LEO Coin Price
Source: TradingBeasts (UNUS SED LEO Price History)
The LEO coin was issued through an Initial Exchange Offering (IEO) from May 2019 till May 13, 2019. In this IEO, they raised $1 billion following the sale of one billion newly minted LEO coins. The starting price was $1. Shortly after the IEO, the UNUS SED LEO coin grew in value. By June 2019, it was trading at around $1.98. This growth happened partly because of LEO’s listing on the OKEx exchange. Following this, the token fell to below $1 during October of the same year. However, its price rose back above $1 at the end of March 2020. Since this time, it has not fallen below the initial sale price.
At the peak of the Bull run in cryptography between February to May 2021, the LEO coin reached an all-time high of $3.92. On June 10, 2021, the LEO coin dropped to $2.43. So far, UNUS SED LEO has performed relatively well and catered to the consistent rise in demand of the investors.
At the time of writing this article on August 26, 2021, one LEO coin costs about $2.94 and is the 44th largest cryptocurrency on CoinMarketCap. It shows a %0.56 decrease since yesterday. You can exchange one UNUS SED LEO for 0.00006280 Bitcoin(s) at major exchanges.
Source: WalletInvestor (LEO Coin Technical Analysis)
LEO Coin Price Prediction in 2021 and Beyond
Providing cryptocurrency price predictions can be challenging, given the innate volatility of the crypto market. In this regard, it is essential to remember that these price predictions are just speculations, and better be considered as a guide and not a final verdict.
WalletInvestor LEO Coin Price Prediction
According to the WalletInvestor forecast system, LEO is an awesome long-term (1-year) investment. Then, in their view, if you are looking for virtual cryptocurrencies with good returns, LEO can be a profitable investment option. WalletInvestor says that with a 5-year investment in the LEO coin, the revenue is predicted to be around +290.77%. That is to say, your current $100 investment may be up to $390.77 in 2026. Since this digital currency has a positive prospect, they recommend it as a part of your investment portfolio.
Source: WalletInvestor (Short-term LEO Coin Price Predictions for the Next Days and Weeks)
Long-term LEO Coin Price Predictions
Digital Coin Price Prediction
The platform predicts that UNUS SED LEO will be $4.3 in 2021. Moreover, LEO’s predicted price will reach ($5.12) in 2022, ($6.21) in 2023, ($7.51) in 2024, ($8.52) in 2025, ($10.59) in 2026, ($11.7) in 2027, and finally ($13.42) in 2028.
Source: DigitalCoin (LEO Coin Price Prediction from 2021 to 2028)
As shown in the graph above, UNUS SED LEO (LEO) price will increase in the future. Then, UNUS SED LEO is a profitable investment. Accordingly, the LEO’s maximum price will be up to $14.54.
Gov Capital LEO Coin Price Prediction
Based on the website, the future price of the asset will be $5.9423776545548 (%103.785) after a year. It means that if you invested $100 now, your current investment may be worth $203.785 on August 27, 2022.
Source: Gov Capital (One-year UNUS SED LEO Price Prediction)
LEO Coin Price Prediction for 2022
TradingBeasts LEO Coin Price Prediction
The LEO price is forecasted to reach $2.61092 by the beginning of September 2021. The expected maximum price is $3.26365, and the minimum price is $2.21928. The LEO price prediction for the end of the month is $2.61092.
The LEO price can reach $2.67352 by the beginning of December 2021. The expected maximum price is $3.34190, and the minimum price is $2.27249. The LEO price prediction for the end of the month is $2.67352. The platform holds that at the end of 2023, the LEO’s price will be $2.84736, representing a %12.41 increase. Its price may reach $3.18266 by December 2024.
Source: TradingBeasts (LEO Coin Price Forecast)
Therefore, TradingBeasts thinks that the LEO Token coin is going to drop. Now the LEO price is $2.98000, but by the end of 2021, the average LEO price is likely to be $2.69489. However, according to their forecasts, the LEO price is going to increase in the next year. Thus, the average LEO coin price maybe $2.99247 in 2022.
CryptoNewsZ LEO Coin Price Prediction
According to their deep technical analysis, the price of UNUS SED LEO will sustain a minimum support level of $3.20 in 2021. The LEO price may also reach a maximum level of $3.66 this year.
Accordingly, the LEO coin value will increase in the next year, i.e., 2022, with enough volume and supply. In their opinion, the LEO coin value may cross its crucial resistance level of $5.2.
Even if keeping up with rivals makes a path for UNUS SED LEO coin investments somewhat challenging, the LEO coin value would reflect a moderate bearish trend in a pessimistic scenario, dropping to $6 on the price chart in 2023.
According to their long-term predictions, 2025 might mark as the benchmark year as the LEO coin value has the potential to surpass $10 by all means. UNUS SED LEO coin price may reach $12 by 2025 if mass adoption occurs.
Based on their technical analysis and crypto forecast, LEO has many potentials during this decade. Predictive modeling and investor sentiment obtained from various sources online predicted a price of $15-$20 for LEO beyond 2025.
Conclusion: Is it Worth Investing in LEO Coin?
In short, there is not any significant technology or idea behind LEO Coin. If Bitfinex exchange performs well and burns more monthly, the LEO price will increase, making it more profitable to sell. Also, the excellent performance of the LEO may go some way to repairing the reputation and image of the Bitfinex exchange. LEO investors have to know that a distinctive characteristic of the LEO coin is that it will not last forever and one day it will cease to exist. Therefore, the coin will never be a better option for those looking to invest in the LEO coin for the long term. Then, the coin can be appealing and ideal for experienced investors who are looking for getting a discount from the platform or profitable investment return for a short period after Bitcoin cloud mining.
On the whole, Aside from this, it has seen a good price history, and regarding the fact that the small number of coins burned so far, it is rational to assume that the upward price trend will continue. However, there are plenty of controversies and skepticism concerning the Bitfinex exchange. Therefore, in deciding to invest in the LEO coin, you had better take into account possible risks and rewards. Do not allocate more than %5-10 of your portfolio to this asset.