The liquid supply of LEO tokens is likely smaller than you think...
In order for the price of something to go up, you need one of two things to happen, you either need increasing demand or you need shrinking liquid supply (all other things being equal).
If you get both at the same time, well you get moon time then.
Interestingly enough, LEO may be on the verge of just that.
As you may or may not know there is only a shade over 5 million LEO tokens out there in circulation currently.
That is a very small number compared to other crypto projects, HIVE by comparison has roughly 400 million coins in circulation.
This means that LEO currently has a market cap of roughly $700k with the current $.14 token price.
The current supply numbers can be seen here btw:
(Source: https://www.steemleo.com/hive-167922/@leo.stats/leofinance-weekly-stats-10-12-2020-to-10-18-2020)
Here's where things get really exciting...
Based on the above, you can already tell that LEO has an extremely small market cap currently, but that isn't really my point.
The really interesting thing is what is going on with the supply vs. the liquid supply.
As you can see on that chart above, the overall supply has been steadily going up, but what I want you to pay attention to is the liquid supply...
The liquid supply has actually decreased from what it was just a couple weeks ago.
Based on the chart above, it looks like the liquid supply of LEO has basically been cut in half over the last couple weeks.
This was due to the wLEO pool on Uniswap and then subsequent hack.
People initially powered down LEO and added it to the liquidity pool thus increasing the liquid supply, and then when the hack happened and the pool was disabled, people powered their LEO back up, cutting the liquid supply.
(Source: https://www.steemleo.com/hive-167922/@leo.stats/leofinance-weekly-stats-10-12-2020-to-10-18-2020)
Here's where things get really really exciting...
As it stands right now, there is only 18% of the 5 million coins liquid.
For those doing that math, that comes out to a little less than 1 million coins liquid currently.
Which means the current liquid supply is a far cry from the total circulating supply and roughly half of what it was just a few weeks ago.
As I mentioned earlier, when you combine this fact with increasing demand like what could be on the way due to the integration of metamask and LeoFinance, we could have the grand slam scenario of dwindling liquid supply in the face of rising demand.
@jrcornel/you-can-now-use-metamask-to-sign-in-to-leofinance-io
When you get a setup like that, that's when moon trips happen.
And we have all the right ingredients for a moon trip with LEO in the coming months.
Stay informed my friends.
-Doc