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The price of UNUS SED LEO today is $3.35. Its 24H trading volume is at $1.87 M. In the last 24 hours, there has been a decrease of -0.29% in LEO’s price. Leo’s 7-day high stands at $3.69. Leo’s 7-day low stands at $3.33.
Leo’s market capitalization is at $3.2 B. It still has a circulating supply of 954.97 M. There is no information available on its max supply.
LEO Price Trend: 2023 and 2024
According to the latest statistics, LEO’s current volatility is at 3%. Its short-term 50-Day SMA is currently at $3.48. Its long-term 200-Day SMA is around $4. LEO’s RSI number is well below 40 and indicates a SELL. This shows that the ongoing sentiment around LEO is bearish.
It is expected to move along the bearish mood in the next few days. Because in the coming week, LEO’s price is expected to drop further by 1.19% and reach $3.31.
Since September 2022, UNUS SED LEO’s 200-Day SMA has been indicating SELL. It is important to note here that currently, LEO is trading far below its 200-Day SMA.
Since 29 January 2023, UNUS SED LEO’s 50-Day SMA is also been signaling SELL. Its current price is a little below its 50-Day SMA.
LEO’s RSI value is at 37. RSI is an important indicating tool to determine whether a cryptocurrency is overbought if it is above 70 or oversold if it is below 30. Its RSI currently signals that the market for LEO is in a neutral position.
As per crypto analysts, UNUS SED LEO’s 50-Day simple moving average is predicted to be at $3.38, while the 200-Day simple moving average is expected to be more or less the same and close to $4 by mid of March this year.
If we look at 7 months from now, market tendencies are pointing that UNUS SED LEO’s value will not drop below 4.5 in October 2023. While the maximum increase is expected not to cross $6. The estimated average trading value will be $5.25.
As per previous analysis, LEO price is expected to be at a maximum of $7.8 and a minimum of $6.97 in the year 2024. This means the average trading price will be in the range of $7.38 in 2024.
What is UNUS SED LEO?
To correctly understand the price trend of any cryptocurrency, it is important to understand how they are used and how they work. With this point in mind, let us dive into UNUS SED LEO’s history and growth until now.
UNUS SED LEO’s name was derived from a citation in Latin in one of the famous Aesop’s Fables. It means ‘one, but a lion’, which emphasizes the quality of the product rather than its quantity. It is a relatively new currency introduced by Bitfinex exchange.
UNUS SED LEO is the new cryptocurrency introduced by Bitfinex exchange, due to which is going to cover the budget deficit. In May 2019, Bitfinex entrusted LEO to iFinex, which now creates and promotes this cryptocurrency. Developers in iFinex have created over a billion LEO tokens.
During a closed initial exchange offer, one LEO was sold at $1. This attracted investors, and as a result, Bitfinex was able to accumulate $1.8 Billion USD in just 10 days. This ensured LEO was in the chart of TOP-20 cryptocurrencies in the world.
UNUS SED LEO- what advantages does it hold?
LEO tokens use two blockchain technology: Ethereum and EOS. Ethereum accounts for 64% of the LEO supply, and the remaining is looked after by EOS.
Having two different blockchains represents the innovation of the LEO token. Because of this, the users of this cryptocurrency enjoy more flexibility. They can freely convert their LEO tokens to either Ethereum or EOS using Bitfinex.
There is the availability of multiple platforms where users can exchange their LEO tokens. Along with Bitfinex, there are YunEx, C2CX, and DragonEx.
Earlier, it was also available in FTX, but due to its collapse is not useful anymore.
It is also very easy to use and carry LEO tokens. Which is another reason for its popularity. This cryptocurrency is supported by USDT, ETH, and BTC. Some less popular pairs are EOS, USDK, and KRW.
Last Words on LEO
The crypto market trends and market analytics are all singling to a bearish movement in the LEO market. LEO’s prices are expected to drop a bit further in the next few weeks. LEO’s short-term and long-term simple moving index are also indicating a SELL opportunity, which means its price is expected to drop. LEO’s RSI is also in the oversold, which indicates a time to SELL.
Keeping all these in view, it is safe to say that LEO’s price is expected to be volatile. Thus it is not a good time to buy now.
However, if the crypto market manages to go a bit steady owing to economic factors, LEO price may pick up a little bit in the next few months.
Other Alternatives To LEO
Permanency is an elusive concept in the crypto world. Prices tend to go up again. A bearish sentiment will always be followed by a bullish movement. Also, until the LEO price tends to come around to favorable ground, it is better to look at other DEX cryptos that present a better upside than LEO.
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Source: https://insidebitcoins.com/news/leo-price-prediction-where-is-leo-going-in-2023