What is it that you see when you look at that screenshot? Is it a colored pie and some numbers maybe? Because what you see and what I see might be completely different. So leme break it down for you.
At the moment of writing the circulation supply of LEO token is approximately ~6.638 mill. The total supply however is ~7 mill tokens. Those 362K tokens have been removed from circulation and sent to @null.
According to the chart ~ 4.91 million tokens are staked on hundreds of LEO accounts which translates to 78.66% of the circulation supply.
That leaves us with 21.34% to play with.
The thing is that almost another 1.2 million tokens that represent 19.20% of circulation supply are being used from LEO holders to provide liquidity on Uniswap. Those tokens aren't staked of course but they are not entirely liquid as well. What that means is that anyone can remove liquidity from the Uniswap pool at any given time but due to incentives from the LEO team they prefer to have them "locked" in the pool for some time. Not only they earn more LEO once every month just because they are liquidity providers but they also earn fees from the trades, so it's a win win situation for them.
And while buying directly LEO tokens from the pool is the easiest way for anyone to do so, it is also a double edged knife especially now that traffic on Ethereum network is increased. And this is exactly what prevents small investors who want to increase their LEO holdings and stake their tokens in their LEO account so that they can enjoy higher curation rewards.
Still don't get it? Hmmm lets see...
Which leads us to the remaining 2.14% of the pie aka those 133.5K tokens that are really liquid. Does that mean that all of these tokens are sitting on @leodex? Of course not...
There are almost 8.700 tokens in there and one would have to move the price a lot in order to buy some of them. As for the remaining 100K+ tokens, they are still in liquid form but they are patiently sitting in our wallets to be powered up. So Bob is kinda doomed if you ask me. He can post of course and earn via blogging and commenting which is probably the best thing he could do.
The fact that fees on Uniswap are definitely a barrier. Does that mean that things are bad for the LEO token? Quite the opposite...LEO's price is pegged to ETH and 99.9% of the times they act as one. Does Eth go up ? So does LEO...and vise versa...
And exactly because LEO holders have very strong hands but also because 2x - 3x on ETH's price from where it is today is highly probable, expect LEO to rise 2x - 3x too...
However if you think that it won't feel free to place a sell order on @leodex and I promise it will be filled in no time.
Oh and a reminder...are you ready for the upcoming airdrops? No? Then go grab some LEO while you still can...that's if you want a head start at the new projects that are about to launch...
Have a good one people.
Posted Using LeoFinance Beta