It's volatility. LEO can swing from 0.05 to 0.3 Steem. LEO is just much more volatile than Steem being very small in marketcap and having less number of traders.
Posted via Steemleo | A Decentralized Community for Investors
Oh I know, I like the volatility. I just mean other coins that went lower and lower and people stopped caring. Not saying that is going to happen to Leo, just what I've seen happen and don't want to happen.
In case of LEO, in last month 7-10 big holders (5-16K LEO) cashed out for different reasons (e.g. 60-70K LEO dumped). It had a spiral negative effect on LEO's price. One of the reasons is that LEO overshoot to 0.3 Steem and Steem was doing well. They are short-term holders, most are airdrop beneficiaries (i.e. no incentive to hold since some of them have not bought LEO for themselves) and wanted an exit anyway.
If you look into the chart, July to September were the months most airdrop beneficiaries exited and LEO crashed to 0.07 Steem. There were 15 PAL curators who got minimum 30K LEO just free. Some of them cashed in like the end of time.
This time is for another exodus, probably last of them.
No :)
lol fair enough. Just saw a lot of other steem sites spiral out in the market and don't want that to happen here.
It's volatility. LEO can swing from 0.05 to 0.3 Steem. LEO is just much more volatile than Steem being very small in marketcap and having less number of traders.
Oh I know, I like the volatility. I just mean other coins that went lower and lower and people stopped caring. Not saying that is going to happen to Leo, just what I've seen happen and don't want to happen.
In case of LEO, in last month 7-10 big holders (5-16K LEO) cashed out for different reasons (e.g. 60-70K LEO dumped). It had a spiral negative effect on LEO's price. One of the reasons is that LEO overshoot to 0.3 Steem and Steem was doing well. They are short-term holders, most are airdrop beneficiaries (i.e. no incentive to hold since some of them have not bought LEO for themselves) and wanted an exit anyway.
If you look into the chart, July to September were the months most airdrop beneficiaries exited and LEO crashed to 0.07 Steem. There were 15 PAL curators who got minimum 30K LEO just free. Some of them cashed in like the end of time.
This time is for another exodus, probably last of them.
You can track them at : https://steem-engine.rocks/tokens/LEO/richlist?sort_field=pending_unstake&sort_order=desc
As @taskmaster4450le said: