UNUS SED LEO is the new cryptocurrency introduced by Bitfinex exchange, due to which it is going to cover the budget deficit. In May 2019, Unus Sed Leo Limited appeared in iFinex, which was entrusted with the creation and promotion of the cryptocurrency. The developers generated almost a billion tokens and sold them for $ 1 during a closed IEO (initial exchange offer), which allowed Bitfinex to gather $1.8 bln and get LEO to the TOP-20 world cryptocurrencies. Today, it’s one of the most successful crypto projects according to the funds collected.
The White Paper of the project states that every month Bitfinex will spend 27% of the profit to buy back tokens at the market rate. The purchased coins will be burned, the money will be put into the budget. If the scheme does not work, there is a plan B: during 4 years, Bitfinex will cover the remaining debt from the main profit of the company. Meanwhile, they plan to use UNUS SED LEO as a utility token and introduce it to other iFinex’ services.
UNUS SED LEO Coin Fundamental Value
The newly created token serves three purposes at once:
- replenishing of the Bitfinex budget;
- expanding opportunities for service customers;
- iFinex ecosystem development.
By analogy with Binance coin, LEO acts as an internal coin of the exchange, the use of which gives a number of advantages:
- Commission fees on Bitfinex and Ethfinex for coin holders are reduced by 15%. The discount applies to all cryptocurrency pairs, including pairs with stablecoins. To use the option, it is enough to have at least one coin on the account.
- The commission for takers who store more than 5000 USDT in cryptocurrency is reduced by another 10% (total savings – 25%).
- An additional 0.05% discount is accrued monthly for every 10,000 USDT held in LEO.
- Holders of more than 50 million coins receive a 25% discount on currency withdrawal (both digital and fiat) and margin trading. Moreover, they do not pay additional fees for the withdrawal of funds equivalent to $ 2 million.
Moreover, LEO will become a utility token in new services that iFinex plans to develop. These are Bitfinex Derivatives, IFinex IEO Platform, Dazaar, μFinex, Betfinex and EOSfinex. Coin holders are promised discounts on the use of services, as well as special conditions for margin trading and working with derivatives (futures, options, etc.).
The largest winners are large asset holders. But ordinary investors have the opportunity to get profit, too. The issuance of the token has already been completed, and new tokens will not be released. On the contrary, each month a certain amount of them will be burned. Consequently, with the growth of market capitalization, the value of each individual token will increase. And traders will be able to earn on the difference in rate.
|Project name||Unus Sed Leo|
|Asset Type||ERC-20 Token|
|Network type||Ethereum + EOS blockchains|
|Market Cap||$1 134 554 075|
|Curr. Supply / Total Supply||999 498 893 / 999 498 893 LEO|
|ROI since launch||7,89%|
|Launch date||13 June 2019|
Unus Sed Leo Price History
Since LEO appeared on the market a couple of months ago, there isn’t a long price history. Right after appearing on the market, LEO was sold for $1, and managed to gain +$.14 to its value (LEO coin price today is $1.14). It has become possible thanks to burning of LEO tokens.
UNUS SED LEO Technical Analysis
Let’s check out the technical analysis from several traders & analysts on TradingView:
UNUS SED LEO Popularity Trend / Community Reputation
Since UNUS SED LEO is partially aimed at restoring Bitfinex reputation, the company has cared to make things as transparent and clear as possible. Currently, LEO enjoys positive reviews and the fact that the project successfully gone through a series of security audits adds up to its value.
Of course, some Internet users were shocked by the fact that LEO has managed to get into the Top-20 too quickly. However, the possibility of potential gain couldn’t stay unnoticed, and many traders admit that. Before LEO entered the market, most traders were optimistic and planned to invest:
Judging by Google Trends statistics, the interest in LEO was hot right after the start of IEO. After that, the hype around the coin slightly cooled down:
Influencers Projections / Opinions / Views on Unus Sed Leo
When it comes to such coin as LEO, its price cannot stay the same since the tokens are being constantly burned, and the interest to the coin among traders is enormous. Although experts don’t hurry to share their opinion, Internet users are arguing over its future price. Here’s what people say:
- Quora users think that LEO will either join the bull trend and gather +100% in price, or stay at the same level.
- Davis Byrne from TokenHell website claims that LEO will stay around $1.7 support level and try to test $1.9 resistance in the nearest future.
- According to TradingView users, Leo made a very nice retracement of the first impulse. It has all the chances to gain at price. The coin is on its way to $2 value during 2020.
What to expect from Unus Sed Leo in 2020-2025?
If the current dynamics are not broken by the correction, and iFinex continues to promote new services, the price of LEO will increase significantly. Analysis of the monthly rate suggests that the maximum price spikes are still to come. So far, there are no serious corrections, which means LEO might reach $2 before the end of 2020.
In 2020, the price of LEO coin can multiply since the tokens will be burnt further on. LEO coin rate growth will be enormous, and in the worst case, should stay somewhere around $2. In the best case, LEO price prediction 2020 is $6. The altcoin season can add to its potential, too.
So, is LEO worth investing? Adding LEO to the cryptocurrency portfolio can be a profitable strategy for experienced investors. The main condition is to notice a trend change in time and have time to get rid of coins if they start to fall in price (for example, playing in short positions). It would be an optimal choice to allocate some 5-10% of your crypto portfolio for an asset.
If you’re a starter, wait until iFinex solves problems with state regulators. Active traders working on Bitfinex and Ethfinex should enter right now to enjoy the significant savings on fees (it will allow them to increase profits from major transactions).