Key Takeaways
- Unus Sed Leo was designed to give people discounts in the Bitfinex exchange in the wake of the platform being hacked.
- The LEO token reached a new yearly high on March 2024 but has fallen slightly since.
- Our Unus Sed Leo price predictions suggest the price will reach a bottom soon and begin an upward movement.
At a time when the crypto market was living in fear of regulators after the US Securities and Exchange Commission sued the Binance and Coinbase exchanges, Federal Reserve chairman Jerome Powell saying that he considered stablecoins to be money will have come as a bit of relief.
The news was especially good for one particular token. Crypto platform iFinex is the parent company of both the Bitfinex exchange and the Tether (USDT) stablecoin and, with USDT seemingly getting the approval of the authorities, things looked good for Unus Sed Leo, a token linked to Bitfinex.
In 2024, LEO rallied to its best price in nearly 18 months. On July 16, 2024, Unus Sed Leo was worth about $5.87.
Unus Sed Leo did not respond to a request for comment.
Let’s now take a look at our own price predictions for LEO, made on July 16, 2024. We will also examine the LEO price history, and talk a little about what LEO is and what it does.
Unus Sed Leo Price Prediction
Here are the LEO price predictions from CCN on July 16, 2024. It is important to remember that price forecasts, especially for something as potentially volatile as crypto, are often wrong.
| Minimum LEO Price Prediction | Average LEO Price Prediction | Maximum LEO Price Prediction | |
|---|---|---|---|
| 2024 | $6.20 | $6.40 | $6.60 |
| 2025 | $7 | $9.50 | $12 |
| 2030 | $21.6 | $27 | $32.4 |
There are two methods used to create our LEO price predictions. Predictions are created using fractals (mirroring movements and indicator readings) and the wave count.
The mean of the two predictions gives the average LEO price prediction, the more bullish one is used for the maximum price prediction while the more bearish one is for the minimum.
Fractal Method
In June 2020, LEO’s weekly RSI moved above 50 for the first time in history. Shortly afterward, the MACD also moved into positive territory. Then, after struggling with the previous all-time high resistance region, LEO finally broke out and started an upward movement.
Measuring from when the RSI first increased above 50, the price increased by nearly 500% over 721 days.
A similar movement has transpired since October 2023. The weekly RSI moved above 50, and the MACD did the same shortly afterward. However, the magnitude of the movement from the low to the first high was twice as low in the current movement. So, the assumption is made that the entire upward movement will have the same ratio.
This method gives a new all-time high price of $12.20 in June 2025. Projecting a similar rate of increase and decline leads to a Unus Sed Leo price prediction of $7.20 and $9.50 for the end of 2024 and 2025, respectively.
Wave Count Method
The most likely wave count indicates that LEO started a five-wave upward movement in February 2023 (white). If so, LEO is currently in wave three, which has extended. The sub-wave count is in black.
A potential target for the top of wave three is at $7, created by giving sub-wave five 0.618 times the length of sub-waves one and three combined. Then, wave five can end at $8, giving it the same proportion relative to waves one and three (white).
Projecting similar rates of increase and decline as the previous correction leads to the Unus Sed Leo price predictions of $ and $ for the end of 2024 and 2025, respectively.
Finally, we use the daily rate of increase for the past five years to make a Unus Sed Leo price prediction for the end of 2030. In the 1,820 days since July 2019, the LEO price has increased by 350%, for a daily rate of increase of 0.19%. Projecting this until the end of 2030 leads to a price of $27. Adding and removing 20% to this target gives our minimum and maximum LEO price predictions.
Unus Sed Leo Price Prediction for 2024
Our wave count and fractal Unus Sed Leo price predictions give similar targets for the end of 2024. More specifically, they suggest LEO will trade at $6.20 and $6.60, respetively.
Unus Sed Leo Price Prediction for 2025
Our wave count and fractal LEO price predictions give different targets for the end of 2025. While both indicate the price will be correcting by then, the target differs because the preceding rate of increase is much higher in the fractal method. The actual targets are at $7 and 12, respectively.
Unus Sed Leo Price Prediction for 2030
The Unus Sed Leo price prediction for 2030 uses the daily rate of increase and gives a target range between $21.6 and $32.4.
LEO Price Analysis
The daily time frame LEO price chart shows a breakout from a descending resistance trend line and a reclaim of the 0.5 Fibonacci retracement resistance level at $5.78. The level is now likely to act as support. LEO also trades inside a short-term descending parallel channel, which often contains corrective movements.
If LEO breaks out, it will likely increase toward the all-time high resistance region of $7.60. The daily time frame RSI supports this possibility since it has reclaimed the 50 level after previously falling below it.
Short-Term LEO Price Prediction
The Unus Sed Leo price prediction for the next 24 hours rests on the assumption that the price will break out from the channel and gradually move toward the $7.60 resistance area. If LEO breaks out, the price on July 17 could be at $6.20, after which the upward movement could resume toward $7.60.
LEO Average True Range (ATR): LEO Volatility
The Average True Range (ATR) measures market volatility by averaging the largest of three values: the current high minus the current low, the absolute value of the current high minus the previous close, and the absolute value of the current low minus the previous close over a period, typically 14 days. A rising ATR indicates increasing volatility, while a falling ATR indicates decreasing volatility.
On July 16, 2024, LEO’s weekly ATR was at $0.30, a sign of average volatility. Divided by the $5.85 LEO price the ATR is at 0.061.
LEO Relative Strength Index (RSI): Is LEO Oversold or Undersold?
The Relative Strength Index (RSI) is a momentum indicator traders use to determine whether an asset is overbought or oversold. Movements above 70 and below 30 show over and undervaluation, respectively. Movements above and below the 50 line also indicate if the trend is bullish or bearish.
On July 16, 2024, the LEO weekly RSI was at 63, a sign of a bullish trend. However, it is worth mentioning that the RSI has been on a downward trend since March.
LEO Price Performance Comparison
LEO is a centralized exchange-based token, so let’s compare its performance with other similar projects.
Best Days and Months to Buy LEO
We took a look at the LEO price history and found the times when the price was at its lowest across certain days, months, quarters, and even weeks in the year, indicating the best times to buy LEO.
| Time to Buy LEO | Days, Months and Quarters |
|---|---|
| Best Day | Tuesday |
| Best Week | 6 |
| Best Month | February |
| Best Quarter | First |
Advantages and Disadvantages of Unus Sed Leo
CCN’s Senior Research Analyst Toghrul Aliyev took a deep dive into Unus Sed Leo and found the following advantages and disadvantages.
Advantages of Unus Sed Leo
- Multi-Tier Benefits for Token Holders : UNUS SED LEO holders on the Bitfinex exchange receive tiered trading fee discounts of up to 25%, peer-to-peer lending fee discounts of up to 5%, and enhanced affiliate rewards based on their token holdings.
- Burn Mechanism : Bitfinex uses 27% of its monthly revenue to buy back and burn LEO tokens. As of July 16, 2024, they have burned 7.4% of the total supply . The initiative reduces the overall supply and increases the value of the remaining tokens.
- High Transparency in Token Burns: Bitfinex maintains high transparency regarding LEO token burns by providing detailed records of every transaction. Users can access comprehensive information on each burn, from the first to the most recent.
- Fixed Supply: The total supply of UNUS SED LEO is fixed at 1 billion tokens, which can lead to increased scarcity and potentially drive up the token’s value over time. By limiting the number of tokens available, the value of existing tokens may appreciate as demand grows.
- Trustworthiness: The UNUS SED LEO token gains credibility from its association with Bitfinex, which has been in the industry for 12 years. Despite numerous controversies, Bitfinex’s enduring presence fosters trust in the reliability and value of the UNUS SED LEO token.
- Dual Blockchain Compatibility: The UNUS SED LEO token is available on both Ethereum and EOS blockchains. This setup provides users with more options for transactions and storage and enhances the token’s accessibility and flexibility.
Disadvantages of Unus Sed Leo
- Dependency on Bitfinex: The success of LEO is closely tied to Bitfinex’s performance and reputation. Any negative events affecting the exchange, such as legal issues or hacks, can directly impact the token’s value.
- Price Drop Cascade Risk : The exchange holds 21.76% of its assets in LEO tokens. Given that the token’s value is closely tied to the exchange’s performance, this causes concern. If Bitfinex faces issues, it may need to liquidate its LEO holdings, leading to a significant price drop. Conversely, a substantial decline in LEO’s price could create financial stress for the exchange, potentially triggering a negative feedback loop where each issue exacerbates the other. This cyclical risk could lead to severe instability for both the token and the exchange.
- Limited Use Case: LEO provides significant benefits within the Bitfinex exchange, but outside of this environment, its value is primarily speculative.
- High Centralization/Disproportionate Control: The UNUS SED LEO token is highly centralized, giving Bitfinex and its affiliates disproportionate influence over token-related decisions and the network.
LEO Price History
Let’s take a closer look at the Unus Sed Leo (LEO) price history. While past performance isn’t necessarily indicative of future results, understanding what LEO has done can help us contextualize future predictions.
2019-2020: LEO first came onto the open market in May 2019, for about $1.09. It hovered around a dollar for the next 18 months.
2021: In 2021, the crypto market went through a bull run, and LEO reached a high of $3.89 on May 12. The token dropped over the summer, sinking below $2.10 in late June, but recovered to close the year at $3.76.
2022: 2022 started strong for Unus Sed Leo, reaching an all-time high of $8.04 after the US Department of Justice announced it had recovered funds stolen in the 2016 hack. Despite a series of crashes shaking the market, LEO closed the year at $3.61, representing a loss of 4%. However, the crypto market as a whole was down by more than 60% in 2022.
2023: LEO underperformed in 2023. The token, albeit with peaks and troughs, went down in the first half of the year, reaching a low of $3.47 after the June 10 announcement that Crypto.com was suspending its US institutional operations. It made a comeback to close the year at $3.97, a year-on-year rise of under 10%, underperforming against a crypto market that more than doubled in 2023.
2024: In late February and early March 2024, LEO rallied, and by March 25, it was worth more than $6. While the price has fallen slightly since the LEO price today is at $5.87.
| Period | LEO Price |
|---|---|
| Today (July 16, 2024) | $5.85 |
| Last Week (July 9, 2024) | $5.82 |
| Last Month (June 16, 2024) | $5.86 |
| Three Months Ago (April 16, 2024) | $5.87 |
| Last Year (July 16, 2023) | $4.02 |
| Launch (May 21, 2019) | $1.07 |
| All-Time High (February 9, 2024) | $7.60 |
| All-Time Low (December 24, 2019) | $0.79 |
Leo Market Cap
The market capitalization, or market cap, is the sum of the total number of LEO in circulation multiplied by its price. On July 16, 2024, MKR’s market cap was $5.43 billion, making it the 21st largest crypto by that metric.
Who Owns the Most Unus Sed Leo?
On July 16, 2024, the five wallets with the most Unus Sed Leo tokens were:
- 0xc61b9bb3a7a0767e3179713f3a5c7a9aedce193c. This wallet, listed as Bitfinex: MultiSig 3, held 648,000,000 LEO, or 64.8% of the total supply.
- 0x742d35cc6634c0532925a3b844bc454e4438f44e. This wallet, listed as Bitfinex , held 10,088,101 LEO, or 1.01% of the supply.
- 0xf9b35626ae6a1940f4310145b28b2f72e4098057. This wallet held 564,962 LEO, or 0.06% of the supply.
- 0x97f991971a37d4ca58064e6a98fc563f03a71e5c. This wallet, listed as Bitfinex, held 235,565 LEO, or 0.03% of the supply.
- 0x77134cbc06cb00b66f4c7e623d5fdbf6777635ec. This wallet, listed as an OKX Wallet, held 182,834 LEO, or 0.02% of the supply.
Supply and Distribution
| Supply and distribution | Figures |
|---|---|
| Total supply | 985,239,504 |
| Circulating supply as of July 16, 2024 | 925,213,476 (93.9% of supply) |
| Holder distribution as of July 16, 2024 | Top 10 holders owned 65.93% of the total supply |
From the Whitepaper
In its technical documentation, or whitepaper, iFinex says LEO is a key component of its platform, of which Bitfinex is a part. It says: “LEO will be the utility token at the heart of the iFinex ecosystem. Token holders will experience benefits across the entire portfolio and are expected to obtain benefits from future projects, products, and services.”
Is Unus Sed Leo a Good Investment?
It is hard to say. One thing that we do need to point out is that, in 2022, LEO outperformed the market whereas it underperformed last year. The token also does not have that much in terms of utility, although the buyback program that iFinex is carrying out has served, at least in theory, to keep the price high.
That said, it has rallied recently.
As always, you will need to do your own research before deciding whether or not to invest in Unus Sed Leo.
Will Unus Sed Leo go up or down?
No one can really tell right now. Although most of the Unus Sed Leo price predictions are optimistic, at least in the long run, price predictions are very often wrong. You should also remember that prices can, and do, go down as well as up.
Should I invest in Unus Sed Leo?
Before you decide whether or not to invest in Unus Sed Leo, you will need to do your own research, not only on LEO but on other coins and tokens. More importantly, you should make it absolutely essential that you never invest more money than you can afford to lose.
Unus Sed Leo (LEO) Explained
Crypto entrepreneurs Raphael Nicolle and Giancarlo Devasini founded iFinex, the platform behind the LEO token, in 2012. The LEO token was founded in an attempt to solve one particular problem. In 2016, hackers stole Bitcoin (BTC) worth more than $67 million at the time from the Bitfinex exchange.
Unus Sed Leo was an attempt to make things up to people who had lost out in the hack. Holders of LEO are eligible for discounts on Bitfinex, including money off trading fees and withdrawals and deposits.
How Unus Sed Leo Works
LEO is, ultimately, designed to be destroyed. The idea is that iFinex will, over time, spent 27% of its gross revenues on buying back the token at the prevailing market rate.
It’s worth noting that, because Unus Sed Leo is based on the Ethereum (ETH) and EOS blockchains, it is a token, not a coin. You might see references to such things as a Unus Sed Leo coin price prediction, but these are wrong.
FAQs
Will Unus Sed Leo Reach $10?
One of our price predictions suggest LEO can increase above $10 in 2025, possibly even reaching $12.
What is Unus Sed Leo used for?
LEO is used to give people discounts on fees on the Bitfinex exchange.
Will Unus Sed Leo Reach $10?
One of our price predictions suggest LEO can increase above $10 in 2025, possibly even reaching $12.
What is Unus Sed Leo used for?
LEO is used to give people discounts on fees on the Bitfinex exchange.
Disclaimer
Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
