As I've been talking about, LEO just keeps hovering around parity with HIVE.
Every poke above 1:1 brings the same story of the old guard dumping on the bid for whatever they can get.
Every time LEO pumps, we've seen the LEO market play out the same way.
Legacy Hivers offloading every time their internal ratio tilts in their favour, causing a glut of supply with no demand at these levels.
They don’t see LEO as a yield-bearing asset, or a token tied to an expanding ecosystem, they see it as a HIVE trade.
And that's fine, but the supply/demand dynamics of LEO have now changed.
Driven by LeoStrategy and the revenue generated by LeoDex, there is a ton of demand that's now using these legacy LEO holders simply as liquidity to accumulate.
Demand isn’t going anywhere.
If anything, it’s growing.
Led by LeoStrategy, who continue accumulating with the stated goal of holding 10 million LEO, not to mention anyone outside of Hive who see staked LEO as a way to share in LeoDex’s growing earnings.
With these oldschool Hiver's holdings getting smaller every time they dump on the bid, the day is coming where these big sellers simply run out of LEO to offload.
And that’s when things get interesting.
When the oldschool Hivers are done selling, the market loses its reflexive supply.
All that we're left with is organic demand.
The same psychology that’s kept the price under 1:1 will be the reason it rips past it in the end.
It’s not a matter of if these sellers run out.
It’s a matter of when they run out and then what happens after.
Take advantage of the liquidity on offer and continue to load up.
Your future self will thank you.
Best of probabilities to you.
Dane.