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There are simply no sellers of LEO on Hive-Engine

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@jondoe
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There is a major buy-side imbalance on Hive-Engine for LEO

LEO is going to moon once it runs out of sellers.

Do you know how I know this?

This is how I know:

(Source: https://hive-engine.com/?p=market&t=LEO)

As you can see there are way more buyers than sellers currently.

However, that's not the full story.

LEO is currently trading for $.27 while WLEO is trading for $.24 on Uniswap.

Uniswap has significantly more volume and significantly more order depth.

Meaning that Uniswap is the dominant exchange for LEO prices.

However, I suspect at some point people will start buying WLEO on Uniswap, unwrapping it, and then selling it on Hive-Engine if the spread is great enough and the liquidity is great enough.

Thus raising the price on Uniswap and dropping it on Hive-Engine.

Either way, there are just way more buyers than sellers for LEO lately and I don't see that changing any time soon!

Posted Using LeoFinance Beta