There are simply no sellers of LEO on Hive-Engine
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