LEO Token Records Positive Moves While Crypto Market Struggles

LEO, the native token of the Bitfinex exchange, has recorded positive gains as the crypto market struggles to gain footing. The utility token saw a price increase of 4.24% on the day.

Timeline of Unus-sed-leo

In this article, we take a look at an interesting metric (called “Holders Making Money at Current Price“) from crypto analytics startup IntoTheBlock (ITB) and see what it says about some of the most popular top 20 cryptoassets (by market cap). ITB calls itself “an intelligence company that uses machine learning and statistical modeling to deliver actionable

History shows that in major market corrections such the one we're riding now, risk-on assets tend to bottom out a full six months before major indecise. This pattern is evident in crypto as altcoins tend to fall farther and faster than Bitcoin and even Ethereum.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. Bitcoin crashed past multiple important support levels in the past two days, but in the same time period, LEO only saw a pullback on its uptrend from early June.