LEO Price Prediction: A Strong Exchange Token in the Making?

Updated: 14 February 2023

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Within the last 24 hours, the crypto market has experienced slight bullish support. While major market movers like Bitcoin are leading the charge, altcoins like LEO have joined the bullish run. Since gains have been few and far between, investors are considering whether this is a good time to purchase LEO.

LEO Price Update

The cryptocurrency market is currently experiencing yet another day of mixed results. While coin prices remain low, the broader market has reclaimed the $1 trillion capitalization spot, and major coins have been regaining lost gains, though many have been trading down in the past day.

Nevertheless, LEO has still managed to be one of the few coins to post gains. The crypto asset, which currently trades at $3.32, is experiencing an uptrend of 0.41% in the past 24 hours. Compared to the broader market, which lost 2.34% during the same period, LEO is doing well.

Despite its price gain, LEO isn’t doing so well on the technical front. The asset is trailing all its moving average (MA) indicators, ranging from the 10-day MA of $3.34 to the 200-day MA of $3.37. The asset’s ability to post consistent gains in the short term should see it overtake some of these indicators, so investors might want to keep an eye on it.

A negative moving average convergence divergence (MACD) shows that LEO is still giving off a sell signal, although the asset’s relative strength index of 39.80 shows that it isn’t overbought yet.

LEO’s Gains Depend on Market Development

LEO is the native token for the Bitfinex cryptocurrency exchange. The digital asset was launched in the wake of the Bitfinex hack, with the exchange’s developers looking to use it to raise funds to support their operations.

As it appears, this strategy worked quite well. Today, LEO is one of the most valuable exchange tokens in the market. The coin also has the objective of helping to reduce trading fees on the Bitfinex platform while offering a more seamless user experience for the exchange’s customers.

Like many other exchanges, Bitfinex is in a strong position to weather the market storm. The exchange has not reported any disruptions to its services, even as the market downturn has caused several businesses in the industry to falter. And with the backing of its parent company, Hong Kong-based holding company iFinex, the exchange appears to be in a strong position than ever.

All of this puts LEO in a great position to challenge the Binance Coin (BNB) and other established assets for the top spot in this growing subgenre of cryptocurrencies. Nevertheless, as the market continues to waver and exchanges lay low to avoid the downturn and the wrath of regulators, LEO is worth keeping an eye on.

LEO Alternative to Consider for Bigger Returns

As the crypto market slowly recovers from the weekend slump, investors are looking for assets that can guarantee returns despite the current market conditions.

Meta Masters Guild, a mobile-based Web3 gaming platform, is introducing a new way to play and earn with its decentralized GameFi ecosystem. The MMG will debut with three games – Meta Kart Racers, NFT Raid, and Meta Masters World. These games will use non-fungible tokens (NFTs), allowing community members to earn rewards, stake and trade them.

Hello #Memagfam😎

The last stage of the Memag presale is live now! 💥💰

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The MEMAG community has raised over $4.2 million! 🤯

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— Meta Masters Guild Games (MEMAGX) (@MEMAGgames) February 13, 2023

The guild is creating an ecosystem of games that will be available to players and contributors worldwide. While each game in the ecosystem is set to function independently, it will also incorporate the MEMAG, the Meta Masters Guild ecosystem’s crypto token, offering different use cases. This opens the door for consistent adoption and a price gain.

Users will earn Gems, an in-game currency that can be exchanged for MEMAG and staked for additional benefits on this platform.

Meta Masters Guild is nearing the end of its token presale, which has already raised over $4.37 million in just a few weeks, making it one of the best of 2023.