The big LEO squeeze: The sell orders get obliterated!
Nobody is selling LEO.
On the other hand, I had 1700 PAL sell order for more than a week. It was never executed. Looks like everybody wants to sell PAL.
PAL was trading at 0.133 Steem and LEO at 0.75 a week back. Since then PAL is trading toward 0.11 and LEO trading up at 0.12 few hours back. In PAL's heyday it was 0.78 Steem and LEO 0.22 Steem.
Now LEO had a spike. The sell orders get obliterated!
It looks like very few want to depart with their LEO. The order book looks like a short squeeze. By the way, the large million LEO sell order will be burned by the founders week by week.
What happened?
Is it the investor mindset of LEO HODLers that keeps them from selling. Or, it is the effect of low volumes. Or, few buyers suddenly thought that LEO is a great investment. Or, it is coordinated pump and dump, that is very frequent in low volume market.
Even one LEO was sold as high as 2 Steem. If it indicates the future, LEO hodlers are here for great future.
My observation is that we have more buyers and less sellers. There are two LEO whales (@kubbyelizabeth and @ma1neevent), basically who are PAL moderators who have still 30K LEO in their wallet. They have not staked or even not selling. Most likely that they are not fully aware of LEO at this moment.
On the other hand, the LEO order book from few weeks back:
I would like to poke them to sell these LEO to the market to provide some liquidity. I have few thousand LEO buy order which is waiting for days. If you know them personally, can you request them to sell to us. Because, the current order book is not optimum for both buyers and sellers.
However, the total marketcap of LEO compared to its peer like PALnet or ACTNEARN or SportsTalk, is lower. Therefore, the growth is still there. But traders are not participating at this time to find the appropriate value.
Till then, enjoy your LEO trade and if you can provide some liquidity to the market, please do so.
Disclaimer: This opinion is not a financial advice, it my personal perspective and opinion. Please seek professionals for financial decisions.
Thanks for reading.
@dtrade
Cryptominer since 2013, trader and tech blogger
It was me.
https://www.steemleo.com/leo/@mysearchisover/mysearchisover-the-leo-the-lion-trader-1-615
HAHA!
I suspected as much, but wasn't gonna out you just yet. After all rising prices are great for me :-).
And LEO!
Thanks for the big very valuable upvote. :)
The long side is clear for takeoff. I have never seen anything like this. Barely any sellers and less than 100 Steem which is less than $20 takes the market cap from like $83,000 to over $200,000. lol
Good Job! lol
Feel free to take out the .19 seller and any other sellers you want to. lol
I should have had you bid a little lower but I get a little bit gung ho sometimes. I've made the same mistake before but live and learn. lol
Looks like the sellers came back for more "reduction". lol It looks like today will be an easy day. I'm thinking .45 resistance makes sense.
Wow! Was wondering when someone was gonna write about it :-)
Came back to the computer today and suddenly my stake value had doubled. Unfortunately most of my stake is well... staked, but I may try and get in and provide some small liquidity if I have time tonight (and make some small money too :-0).
The SteemLeo project is looking better each day. I have been buying for a couple weeks now. Adding to my position was vital.
I am doing all I can to add to my stake. Everything I bring in ends up staked. These tokens are going to be very scarce.
It is my favorite tribe on the Steem blockchain and this is project is rock!
https://www.steemleo.com/dtube/@nealmcspadden/3fqhmqfdd91
You bought all the tokens in the market killing the liquidity! 😉
It was good to see someone finding value in buying a STEEM token for as high as 2 STEEM. Alas, I don't have any liquidity with me at the moment!
Related article: https://steemit.com/steemleo/@jk6276.leo/leo-fomo