3 Reasons Why Bitfinex LEO Token has Flopped

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As we’ve seen from powerhouse examples like Binance’s BNB, exchange tokens can often make promising returns for investors. However, that has not been the case with the Bitfinex’s LEO token. Here are three possible reasons why that might be. 1. LEO Came Late to the Game Bitfinex’s LEO token was launched in May of this year after the company claimed it had raised $1 billion USDT and USD in a private token sale. As per the whitepaper, the LEO token promises holders reduced fees and other discounts on BitFinex and EthFinex. And, very much like the BNB token, one of LEO’s most important value props is that it carries out token burning to increase the token’s scarcity over time. However, unlike BNB, LEO was launched on an exchange that saw the slowest growth in 2019. This was coupled with some rather low trading volume, despite once claiming the lion’s share…

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