UNUS SED LEO price prediction: Surging coin bucks bear market
UNUS SED LEO has seen its value rise as other cryptos suffer in the current market slump
Named after a Latin phrase in the Aesop fable The Sow and the Lioness, UNUS SED LEO is the most recent cryptocurrency project of Bitfinex’s parent company iFinex, the British Virgin Islands-registered entity also in control of the stable coin Tether.
Throughout Bitfinex’s turbulent history, the centralised exchange faced major hacks, multimillion-dollar fines from the New York state attorney general, a ban from operating in New York state and a seizure of assets of its former payment processor, Crypto Capital.
That seizure pre-empted the deployment of the LEO token through an initial exchange offering (IEO) in May 2019, when $1bn was raised through the sale of one billion tokens. Unique among other projects, LEO has a limited lifespan; iFinex is committed to buying back and burning all commercially available tokens until supply runs out.
The life span of the project is unclear, but in the following UNUS SED LEO price prediction, we take a look at what price LEO could hit in the years ahead, using chart analysis and forecast price targets. If you want to get up to scratch on the specifics of the UNUS SED LEO project before continuing, be sure to check out our comprehensive guide.
LEO’s latest trading activity
Despite being subject to large price fluctuations, LEO surprised the market with a sustained uptrend in the fourth quarter of 2021. There were spikes of selling pressure observed in the mid to late November, and again in December, rejections swiftly followed, lifting the support line from $2.70 on 14 November to $3.40 on 26 December.
Though the coin dropped 5.2% on 7 January after the Bitcoin crash, LEO rallied the following day, regaining lost ground to close at $3.77.
On 8 February, LEO reached a new all-time high of $8.04 after it surged by more than 50% following the announcement that most of the stolen funds from a $4bn Bitfinex hack in 2016 were recovered by the US Department of Justice.
In its LEO whitepaper posted in 2019, Bitfinex stated its intentions to use approximately 80% of any found funds to repurchase and burn outstanding LEO tokens within 18 months of their recovery, and has reconfirmed its commitment to this in a statement posted on 8 February.
A few LEO token facts
At the time of writing on 2 July 2022, LEO is trading at roughly $5.74 and is bucking the current crypto bear market. Circulating supply is 953.9 million out of an initial one billion supply from the IEO. LEO is a top-20 cryptocurrency; market capitalisation is $5.4bn, currently placing it at number 15 on the charts.
UNUS SED LEO underwent an IEO in May 2019 on the Bitfinex exchange. The tokens, priced at $1 each, were, uniquely, deployed on two blockchains: 64% of supply on Ethereum and 36% on EOS. The token is interoperable between both blockchains.
Forecaster price targets
DigitalCoinPrice’s UNUS SED LEO crypto price prediction is an average $7.66 for 2022. In the longer term, the forecaster gives an UNUS SED LEO price prediction for 2025 of $10.81.
With WalletInvestor’s LEO price prediction, we are presented with a five-year price target of $21.835. In the shorter term, the forecaster presents a UNUS SED LEO price prediction for 2022 of $7.127 by the end of December.
Gov.Capital’s LEO coin price prediction gives a 12-month price target of $10.87 and a five-year target of $47.37.
Bear in mind that digital forecasters do not take into account external factors and fundamental analysis when making their UNUS SED LEO price prediction estimates. As such, they should not be considered true investment advice.
UNUS SED LEO is potentially a good investment, although the project has a limited life span and unique utility. Although this article aims to present you with balanced information, it should not be taken as genuine investment advice. Always conduct independent research before placing an investment.
The LEO price prediction coverage among the forecasters suggests that it could go up, but bear in mind that these predictions do not qualify as genuine investment advice.
UNUS SED LEO is a unique project with specific utility and a limited life span. It is advised to read the white paper and conduct thorough research if you are considering an investment.