{"id":386371,"date":"2019-06-17T07:00:48","date_gmt":"2019-06-17T07:00:48","guid":{"rendered":"https:\/\/wncen.com\/?p=386371"},"modified":"2024-06-11T17:31:48","modified_gmt":"2024-06-11T17:31:48","slug":"ifinex-buyback-could-spur-another-wave-of-leo-demand-price-up-8-2","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ifinex-buyback-could-spur-another-wave-of-leo-demand-price-up-8-2\/","title":{"rendered":"iFinex Buyback Could Spur Another Wave of Leo Demand, Price Up 8.2%"},"content":{"rendered":"<ul>\n<li><em>Leo adds 8.2 percent<\/em><\/li>\n<li><em>The public open to tracking iFinex repurchase of Leo coins<\/em><\/li>\n<\/ul>\n<p><em>Behind a surging coin, iFinex plans to open up to the public its buyback program. In an initiative called the UNUS SED LEO Transparency Initiative, the public will track how the parent company would purchase Leo from their gross revenue. Meanwhile, Leo is up 8.2 percent from last week\u2019s close.<\/em><\/p>\n<h2>Leo Price Analysis<\/h2>\n<h3>Fundamentals<\/h3>\n<p>There is noticeable progress. It all has to do with <a href=\"https:\/\/wncen.com\/2019\/05\/26\/bitmexs-hayes-bitfinexs-leo-sale-sign-of-returning-bitcoin-bull-market\/\" target=\"_blank\" rel=\"noopener noreferrer \">BitFinex<\/a> and their effort of improving transparency. Through an initiative that will allow the public to track <a href=\"https:\/\/wncen.com\/2019\/05\/05\/fundstrat-bitfinex-1b-ieo-raise-could-pressure-bitcoin-lower\/\" target=\"_blank\" rel=\"noopener noreferrer \">iFinex<\/a> buying back and \u201cburning\u201d of Leo tokens, they hope the exchange\u2019s reputation will improve. That is even if it is in slightest margins.<\/p>\n<p>The initiative dubbed the UNUS SED LEO Transparency Initiative is no doubt a way of instilling confidence in an exchange struggling to accusations of commingling with <a href=\"https:\/\/wncen.com\/2019\/04\/30\/tether-scandal-could-cause-big-bitcoin-short-squeeze-boosting-btc-analyst\/\" target=\"_blank\" rel=\"noopener noreferrer \">Tether Limited funds<\/a> to stay ashore.\u00a0 Through an <a href=\"https:\/\/www.prnewswire.co.uk\/news-releases\/bitfinex-presents-unus-sed-leo-transparency-initiative-826690241.html\" rel=\"nofollow\">announcement<\/a>, BitFinex said this initiative is around a \u201creal-time token burn redemption mechanism,\u201d adding that:<\/p>\n<blockquote><p>\u201cToken burn mechanism will see iFinex and its affiliates buy back UNUS SED LEO from the market, at market rates and on a real-time basis, equal to a minimum of 27% of consolidated gross revenues of iFinex (exclusive of Ethfinex), until no more tokens are in commercial circulation.\u201d<\/p><\/blockquote>\n<p>The announcement coincides with developing news that the exchange is stepping up its <a href=\"https:\/\/wncen.com\/2018\/05\/25\/blockpass-universal-kyc-solution-investment\/\" target=\"_blank\" rel=\"noopener noreferrer \">KYC and AML rules<\/a> implementation. A user recently took to Twitter, sharing with the community an email from the exchange asking him to share additional details of his account. That, in the email, includes details and explanations of his objectives and activities.<\/p>\n<h3>Candlestick Arrangement<\/h3>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-386372\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/06\/Leo-Daily-Chart-June-17.png?resize=1366%2C768\" alt=\"Leo BitFinex\" width=\"1366\" height=\"768\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/06\/Leo-Daily-Chart-June-17.png?w=1366 1366w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/06\/Leo-Daily-Chart-June-17.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/06\/Leo-Daily-Chart-June-17.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/06\/Leo-Daily-Chart-June-17.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/06\/Leo-Daily-Chart-June-17.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/06\/Leo-Daily-Chart-June-17.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/p>\n<p>At the time of writing, <a href=\"https:\/\/wncen.com\/2019\/06\/13\/bitfinexs-leo-spikes-32-more-valuable-than-iota\/\" target=\"_blank\" rel=\"noopener noreferrer \">Leo<\/a> is three positions away from the top 10. Surging 8.2 percent from last week\u2019s close, the asset is at 13th. Behind this resurgence is the fear of missing out (FOMO) that could even supersede candlestick arrangements.<\/p>\n<p>However, a standout in all this is the performance of an asset that is rallying at the back of solid fundamentals and drives from the issuing company. Presently, May 20 bar overshadows these bullish sentiments. The bar is wide-ranging with decent trading volumes.<\/p>\n<p>Despite a divergence between trading volumes and price, bulls will likely drive prices above May 20 highs. Optimism is because of the iFinex buyback program. Therefore, even if prices falter, support could be at $1.75 or worse $1.5 before buyers flow back.<\/p>\n<p>Overly though, fundamentals mean loading is present on every dip in smaller timeframes. In that case, fitting stops would be at $1.75 and $1.5.<\/p>\n<h2>Technical Indicators<\/h2>\n<p>June 10 bar leads this trade plan. It has high trade volumes of 3.9 million versus 1.3 million. Any close above its high at $1.98 could spark demand as buyers momentum drive Leo towards May 30 high of $2.5<\/p>\n<p><a href=\"https:\/\/www.tradingview.com\/\" rel=\"nofollow\"><strong><em>Chart<\/em><\/strong><\/a><strong><em> courtesy of Trading View. Image Courtesy of Shutterstock<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Leo adds 8.2 percent The public open to tracking iFinex repurchase of Leo coins Behind a surging coin, iFinex plans to open up to the public its buyback program. In an initiative called the UNUS SED LEO Transparency Initiative, the public will track how the parent company would purchase Leo from their gross revenue. Meanwhile, Leo is up 8.2 percent from last week\u2019s close. Leo Price Analysis Fundamentals There is noticeable progress. It all has to do with BitFinex and their effort of improving transparency. Through an initiative that will allow the public to track iFinex buying back and \u201cburning\u201d of Leo tokens, they hope the exchange\u2019s reputation will improve. That is even if it is in slightest margins. The initiative dubbed the UNUS SED LEO Transparency Initiative is no doubt a way of instilling confidence in an exchange struggling to accusations of commingling with Tether Limited funds to stay ashore.\u00a0 Through an announcement, BitFinex said this initiative is around a \u201creal-time token burn redemption mechanism,\u201d adding that: \u201cToken burn mechanism will see iFinex and its affiliates buy back UNUS SED LEO from the market, at market rates and on a real-time basis, equal to a minimum of 27% of consolidated gross revenues of iFinex (exclusive of Ethfinex), until no more tokens are in commercial circulation.\u201d The announcement coincides with developing news that the exchange is stepping up its KYC and AML rules implementation. A user recently took to Twitter, sharing with the community an email from the exchange asking him to share additional details of his account. That, in the email, includes details and explanations of his objectives and activities. Candlestick Arrangement At the time of writing, Leo is three positions away from the top 10. Surging 8.2 percent from last week\u2019s close, the asset is at 13th. Behind this resurgence is the fear of missing out (FOMO) that could even supersede candlestick arrangements. However, a standout in all this is the performance of an asset that is rallying at the back of solid fundamentals and drives from the issuing company. Presently, May 20 bar overshadows these bullish sentiments. The bar is wide-ranging with decent trading volumes. Despite a divergence between trading volumes and price, bulls will likely drive prices above May 20 highs. Optimism is because of the iFinex buyback program. Therefore, even if prices falter, support could be at $1.75 or worse $1.5 before buyers flow back. Overly though, fundamentals mean loading is present on every dip in smaller timeframes. In that case, fitting stops would be at $1.75 and $1.5. Technical Indicators June 10 bar leads this trade plan. It has high trade volumes of 3.9 million versus 1.3 million. Any close above its high at $1.98 could spark demand as buyers momentum drive Leo towards May 30 high of $2.5 Chart courtesy of Trading View. Image Courtesy of Shutterstock<\/p>\n","protected":false},"author":384,"featured_media":347588,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[925,13567,43776],"class_list":["post-386371","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitfinex","tag-ifinex","tag-leo"],"acf":[],"yoast_head":"\n<title>iFinex Buyback Could Spur Another Wave of Leo Demand, Price Up 8.2%<\/title>\n<meta name=\"description\" content=\"With an exemplary performance, BitFinex&#039;s Leo is springback after dumping on May 30. 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Expectedly, prices could rally as iFinex plans to buyback tokens.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/ifinex-buyback-could-spur-another-wave-of-leo-demand-price-up-8-2\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2019-06-17T07:00:48+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-11T17:31:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2018\/08\/techanalysis-alts5.jpg?fit=1200%2C600\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Dalmas Ngetich\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Dalmas_Ngetich\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Dalmas Ngetich\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/wncen.com\/news\/ifinex-buyback-could-spur-another-wave-of-leo-demand-price-up-8-2\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/news\/ifinex-buyback-could-spur-another-wave-of-leo-demand-price-up-8-2\/\"},\"author\":{\"name\":\"Dalmas Ngetich\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/08a2c46e8c02b51b9464d6e0bf2b1586\"},\"headline\":\"iFinex Buyback Could Spur Another Wave of Leo Demand, Price Up 8.2%\",\"datePublished\":\"2019-06-17T07:00:48+00:00\",\"dateModified\":\"2024-06-11T17:31:48+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/ifinex-buyback-could-spur-another-wave-of-leo-demand-price-up-8-2\/\"},\"wordCount\":471,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/wncen.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/ifinex-buyback-could-spur-another-wave-of-leo-demand-price-up-8-2\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2018\/08\/techanalysis-alts5.jpg?fit=1200%2C600\",\"keywords\":[\"bitfinex\",\"iFinex\",\"LEO\"],\"articleSection\":[\"Cryptocurrency Market News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/wncen.com\/news\/ifinex-buyback-could-spur-another-wave-of-leo-demand-price-up-8-2\/#respond\"]}],\"copyrightYear\":\"2019\",\"copyrightHolder\":{\"@id\":\"https:\/\/wncen.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/wncen.com\/news\/ifinex-buyback-could-spur-another-wave-of-leo-demand-price-up-8-2\/\",\"url\":\"https:\/\/wncen.com\/news\/ifinex-buyback-could-spur-another-wave-of-leo-demand-price-up-8-2\/\",\"name\":\"iFinex Buyback Could Spur Another Wave of Leo Demand, Price Up 8.2%\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/ifinex-buyback-could-spur-another-wave-of-leo-demand-price-up-8-2\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/ifinex-buyback-could-spur-another-wave-of-leo-demand-price-up-8-2\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2018\/08\/techanalysis-alts5.jpg?fit=1200%2C600\",\"datePublished\":\"2019-06-17T07:00:48+00:00\",\"dateModified\":\"2024-06-11T17:31:48+00:00\",\"description\":\"With an exemplary performance, BitFinex's Leo is springback after dumping on May 30. 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The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. 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